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RIMS

Conflict of Interest and Ethics Policy

RIMS Conflict of Interest and Ethics Policy for RIMS Officers, Directors and Committee Members, and Other Volunteers

Those who choose to serve as officers, directors and committee members, or any other volunteers, of the Risk and Insurance Management RIMS, Inc. (RIMS), are held to the highest standards of conduct. These individuals assume an obligation to subordinate individual interests to the interests of RIMS. The purpose of this policy is to help inform these individuals about what constitutes a conflict of interest or unethical behavior, assist them in identifying and disclosing actual and potential conflicts or unethical behavior, and help ensure the avoidance of conflicts of interest or unethical behavior, where necessary.

Those who serve RIMS must do so in keeping with the utmost business standards, without personal gain, without regard to personal relationships and without financial gain to their employers, and must behave in such a way so as to enhance member and public trust and confidence in RIMS. These individuals must avoid any real conflicts of interest or improprieties, as well as even the appearance of any conflicts of interest or improprieties. This may lead to a level of conduct beyond that appropriate for circumstances outside RIMS.

The key elements of this policy are the disclosure of circumstances which may give rise to a conflict or impropriety or unethical behavior, the physical absence and non-participation in the decision making process that might lead to a potential conflict or impropriety or unethical behavior, and the commitment to honor the confidentiality of organizational information.

Under no circumstances shall any member of RIMS Board of Directors, Standing or Ad Hoc Committees, Councils or task forces participate in the evaluation or approval by RIMS of any contractual arrangement of which RIMS may become a party, if such individual, or such individual’s employer, would benefit financially, either directly or indirectly, from RIMS becoming a party to such agreement.

All actual and potential conflicts of interest or unethical behavior shall be disclosed by such individuals covered hereunder to RIMS Executive Committee through an annual disclosure form and whenever a conflict or unethical behavior arises. The disinterested members of the Executive Committee shall make a determination as to whether a conflict exists or unethical behavior has occurred, and what subsequent action is appropriate (if any). RIMS Executive Committee shall inform the Board of Directors of such determination and action. The Board shall retain the right to modify or reverse such determination and action, and shall retain the ultimate enforcement authority with respect to the interpretation and application of this policy.

On an annual basis, all Board, committee, council and task force members shall be provided with a copy of this policy and be required to complete and sign the acknowledgement and disclosure form below. All completed forms shall be provided to and reviewed by RIMS Executive Committee, as well as all other information provided by such individuals.

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