2008 RIMS Annual Report
2008 was a year of challenge and vast changes to the global business environment. The financial industry fallout put risk management in the spotlight and propelled many organizations to re-examine their risk management practices. Now more than ever it is critical that risk practitioners stay connected and informed—and RIMS members are doing just that.
The Society held RIMS 2008 Annual Conference & Exhibition in San Diego and challenged more than 10,000 industry professionals to talk and think about risk in new and different ways. At the conference, RIMS debuted the Risk Management Professional Growth Model, a unique tool to help practitioners and their organizations set a path for continuous advancement and development. Several other notable publications were released including "Selecting and Working with a Broker," RIMS State of ERM Report 2008, the "2008 RIMS Benchmark Survey™", 2008 Risk Management Compensation Survey and Risk Insights white paper series.
2008 was a significant year for RIMS legislative program. Now in its 10th year, RIMS on the Hill legislative conference brought more than 40 RIMS members to Washington, D.C. for a learning experience that culminated in an opportunity to lobby legislators and incorporate the voice of risk management in key legislation. RIMS also testified at the New York Insurance Department and Attorney General's public hearings on broker compensation and called upon the insurance industry to eliminate certain broker compensation arrangements. Under the Society's State and Regulatory Affairs Program, "how to" training was offered on establishing or expanding a chapter government affairs program and hosting local legislative conferences. As you will see, several chapters are poised to host legislative visits to their state capitols in 2009.
RIMS.org, the Society's premier website, was redesigned to give members faster and easier access to an electronic world of customized products, services and networking opportunities. RIMS use of technology paved the way for the first ever RiskLive! RIMS Virtual Conference & Expo—an interactive event where attendees participated in a learning experience right from their desktops. Participants attended live sessions, visited exhibitors in a virtual Exhibit Hall and networked with others in real-time.
These conferences weren't the only learning opportunities that members embraced in 2008—a record-breaking 1,000 risk practitioners took advantage of RIMS professional development courses and RIMS Fellow® designation workshops. And, when the financial crisis hit, RIMS conducted a series of webinars featuring industry leaders who provided insight to insurance and financial market changes.
2009 poses many challenges for risk practitioners and their businesses. As the leading association for risk professionals, RIMS will continue to offer members the learning opportunities, tools and resources to succeed in an ever-changing environment.