Group Challenges Okla.'s Stance On Collateral Insurance

Law360, New York (September 18, 2012, 8:38 PM EDT) -- A risk purchasing group launched a suit against Oklahoma's insurance regulator Monday, seeking a ruling that collateral protection insurance is a form of liability coverage that can be written by risk retention groups and purchased by risk purchasing groups like itself.

Creditors Insurance Purchasing Group — an Oklahoma-based federal risk purchasing group charged with buying liability insurance for used automobile dealers — told an Oklahoma federal court that a state insurance regulator improperly blocked it from continuing to buy collateral protection insurance from Vehicular Services Insurance...
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