White paper delves into techniques and tools for analyzing text data

An active hurricane season, however, could bring a swift end to the soft market.

NEW YORK (July 21, 2010) — Today, Aon Corporation, a leading global brokerage firm, issued a statement outlining its approach to market remuneration and contingent commissions. The firm has stated that it will accept various forms of compensation, which may include supplemental and/or contingent commissions in areas of the world where it is legally permissible. The Risk and Insurance Management Society, Inc. (RIMS) maintains its opposition to the practice of collecting contingent commissions and is disappointed in Aon’s decision.

“RIMS urges Aon to join other large brokers in agreeing not to accept contingent commissions,” says Scott Clark, RIMS secretary and director of RIMS External Affairs Committee and Risk and Benefits officer for Miami-Dade County School Board. “Ultimately, we would like to see the insurance industry as a whole adopt practices that place the broker in a position that best serves purchasers of insurance.”

RIMS has always maintained the position that contingent commissions should be universally banned and views Aon’s intentions as a step backwards with regard to the level of service it provides to its clients. RIMS will continue to call upon all brokers to refrain from accepting contingent commissions, as they pose an inherent conflict of interest and interfere with the relationship of trust between the broker and insurance consumer, regardless of the nature of the client or the intermediary. .

RIMS will continue to work closely with all parties on the issues of producer compensation and disclosure.    

 

RIMS maintains tax on foreign-based insurance companies will have crippling effect on consumers

White paper explores the risks and benefits of forming a captive

Marsh-RIMS Survey finds strategic risk initiatives slowed by silos Divergent views on ERM and risk management priorities

Volunteers to build and stock bookshelves as part of RIMS’ fourth annual Community Service Day.

Risk managers called upon to examine emerging risks.

Risk managers are benefitting from lower premiums, but looming catastrophe losses could portend a turn in the market.

World’s largest gathering of risk professionals takes place April 25-29 in Boston

New measure to promote greater efficiencies in the insurance marketplace

New measure to include commercial property insurance

White paper addresses financial recovery from disasters through FEMA claims

Special sessions help risk professionals address solar risks and contingent commissions

RIMS to bring world’s largest conference for risk professionals to LA

New York Insurance Department and Attorney General’s decision to reinstate contingent commissions, not in the best interest of the insurance consumer.

Risk managers continue to enjoy favorable insurance prices, but brokers struggle with declining revenues.

RIMS Chapter membership grows despite depressed economy

House Financial Services Committee Passes H.R. 2609

RIMS 2010 Annual Conference & Exhibition to feature speaker powerhouse that includes Fortune 500 CEO, New York Times best-selling author & innovative entrepreneur

Risk managers called upon to demand higher standards of independence and disclosure

Proposed committees will decrease likelihood of a future financial crisis

Rising premiums are on the horizon, but the recession continues to delay their arrival.

Winner of prestigious Donald M. Stuart Award announced at 2009 RIMS Canada Conference in St. John’s, Newfoundland and Labrador

“Robert E. Gallagher and John P. Gallagher Scholarship” announced at Spencer Educational Foundation’s 30th anniversary gala

House of Representatives makes insurance more available and affordable for consumers

Financial solutions just a click away

The Risk and Insurance Management Society (RIMS) will host a webinar, Disaster and Recovery: Preparing Your Business for Hurricane Season, on Thursday, August 13, at 1:00-2:00 pm EST. This webinar, sponsored by Ernst & Young, will discuss what companies can do right now, and immediately after a hurricane or other disaster strikes, to expedite and optimize operational, business and financial recovery. Panelists include David B. Goodwin, partner at Covington & Burling LLP; Nigel Henley, senior manager of insurance claims services practice at Ernst & Young; Polly E. James, manager of risk analysis and control at General Motors; and Allen Melton, partner and Americas leader of insurance claims services practice at Ernst & Young.

Early bird registration closes August 21

NEW YORK (July 29, 2009) — The Risk and Insurance Management Society (RIMS) is disappointed with the decision taken by the Illinois Attorney General and the Illinois Department of Insurance to allow Arthur J. Gallagher & Co. to begin accepting contingent commissions. RIMS has consistently stated that contingent commissions should be broadly prohibited as they represent an inherent conflict of interest. The investigations, admissions and fines that culminated in the agreement signed by some brokers in 2005 prove that these practices can be, and were, manipulated to the detriment of the insurance consumer.

However, depletion of insurance capacity signals rising commercial insurance rates

NEW YORK (July 27, 2009) — Spencer Educational Foundation, Inc. today unveiled its new website, www.spencered.org. The newly designed site provides professional networking opportunities for students studying risk management and insurance, and offers a convenient way for students to interact with risk practitioners. On the site, users can create and manage profiles, form special interest groups, participate in online discussions, explore scholarship and grant programs, learn about upcoming events and make a donation.

In celebration of its support of risk management education for 30 years, Spencer Educational Foundation, Inc. announced a special fundraising dinner gala to be held September 10 at the Waldorf=Astoria^® in New York City.

Today’s economic challenges and leadership techniques are two of the topics to be addressed at the 34th annual Florida RIMS Educational Conference on July 28-August 1 in Naples. More than 500 risk management professionals are expected to attend. The conference is hosted by all seven RIMS Florida chapters. The deadline to register online is July 20.

Society boasts 81 chapters worldwide

RIMS working with IRMI on Management Liability Insurance Specialist program

Annual publication results help insurance buyers compare premiums, limits and retentions

One month only economy special: Free 30-day job postings

Online service connects risk professionals with suppliers

NEW YORK (May 21, 2009) — The Risk and Insurance Management Society (RIMS) supports the efforts of Rep. Dennis Moore, D-Kansas, and Rep. Scott Garrett, R-New Jersey, on reintroducing the Non-Admitted and Reinsurance Reform Act of 2009 to the U.S. House of Representatives. This important legislation will provide much needed reform in the non-admitted and reinsurance markets.

The Risk and Insurance Management Society (RIMS) has made available a podcast series, Swine Flu and the Pandemic Plan of Action, to help risk practitioners during the swine flu epidemic. In the first podcast, Fact vs. Fiction, Bill Coffin, publisher and editorial director of Risk Management magazine, gets the inside story from Michael Liebowitz, past president of RIMS and director of risk management and insurance at New York University. They will discuss how bad the swine flu may become, what insurance implications will stem from it and what can be done to manage the risk swine flu poses to companies large and small.

Approximately 100 volunteers take part in third annual Community Service Day during RIMS 2009 Annual Conference & Exhibition

Data shows hard market in financial institutions’ directors and officers; Rates flat or modestly down in other product lines

The Institutes and RIMS Announce Advanced ERM Course

Largest gathering of risk professionals takes place April 19-23 in Orlando

Executive report provides risk practitioners guidance on enhancing enterprise risk management programs

In response to the continuing financial industry crisis, the Risk and Insurance Management Society, Inc. (RIMS) has organized a two-part webinar series on Thursday, March 5, and Friday, March 6, Operating in Today's Business Environment. These webinars have been designed to help explain the potential impact the latest changes in the financial markets may have on risk managers.

"Accounting In An Hour" focuses on the basic skills necessary to understand financial statements

The Risk and Insurance Management Society, Inc. (RIMS) applauds the U.S. Government Accountability Office (GAO) for its report, “A Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial Regulatory System,” calling it timely and constructive. The GAO study comes on the heels of the financial market turmoil and focuses on an analysis of factors leading to the financial crisis and proposes a framework for Congress in crafting potential regulatory reform proposals.

New sessions help risk professionals address impact of financial crisis

NEW YORK (February 5, 2009) — The Risk and Insurance Management Society (RIMS) announced its "Hot Topic" sessions to be presented at RIMS 2009 Annual Conference & Exhibition on April 19 - 23 in Orlando. Hot Topic sessions include:

• Navigating the Financial Tsunami will lead attendees through recommendations to help their organizations prepare for economic recovery.
• Five Questions to Ask Before Switching Insurance Companies will help attendees examine the effectiveness of their insurance portfolios.
• Insurance Coverage for Subprime Mortgage Lawsuits will educate attendees on how to defend their organizations against mortgage litigation.
• D&O Insurance During the Economic Crisis will show attendees how to stay a step ahead of the economic crisis.

RIMS executive report outlines next steps for ERM

The Risk and Insurance Management Society (RIMS) invites you to participate in a Press Conference via Conference Call on:

Modest decreases in premium rates; Global economic crisis increasing pressure on insurers to raise rates

RIMS 2009 Annual Conference & Exhibition unveils rich program outlining latest leadership strategies and techniques

NEW YORK (January 5, 2009) — Amidst the recent turmoil in the financial markets, the risk management industry has been placed into the spotlight and risk practitioners are being asked to re-evaluate their risks and exposures. The Risk and Insurance Management Society (RIMS) 2009 Annual Conference & Exhibition, taking place April 19-23 in Orlando, Florida will provide risk managers and other executives charged with risk management responsibilities with proven leadership strategies and techniques to successfully navigate this time of economic uncertainty, and the surfacing global threats. The conference will take place at the Orange County Convention Center.