Liability Risk Retention Amendments of 1990

[AI summary unavailable — showing source text] Liability Risk Retention Amendments of 1990 - Amends the Liability Risk Retention Act to change the ways in which: (1) States are allowed to regulate risk retention groups; (2) such groups are explicitly exempt from State regulation; and (3) States may control the licensing of agents or brokers for such groups. Allows a risk retention group to provide liability insurance to a nonmember in certain circumstances. Changes the ways in which: (1) purchasing groups are explicitly exempt from State regulation; and (2) States may control the licensing of agents or brokers for such groups. Requires additional information in the notice to State insurance commissioners of intent by a purchasing group to do business. Allows a purchasing group to purchase insurance only from an insurer meeting certain requirements of this Act. Authorizes admitted insurers, approved surplus lines insurers, and other nonadmitted insurers to provide insurance under the Act to purchasing groups, provided certain conditions are met. Requires the provision of insurance by a qualified purchasing group insurer to be regulated in specified ways by the State in which the group has its principal place of business. Require…