The Insurance Company of the State of Pennsylvania v. James P. Corcoran, Superintendent of Insurance of the State of New York

WINTER, Circuit Judge:

The Product Liability Risk Retention Act of 1981 (“RRA”), as amended by the Liability Risk Retention Act of 1986, 15 U.S.C. §§ 3901-3906 (1982 & Supp. IV 1986), authorizes persons or businesses with similar or related liability exposure to form “purchasing groups” for the purpose of purchasing liability insurance on a group basis and “risk retention groups” for the purpose of self-insuring. 15 U.S.C. §§ 3901(a)(4) & (5). Because purchasing and risk retention groups are illegal under some states’ laws, and state regulation or prohibition of such groups would otherwise be…