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RIMS Supports Federal Insurance Office Legislation 12/3/2009

House Financial Services Committee Passes H.R. 2609

The Risk and Insurance Management Society, Inc. (RIMS) today announced its strong support of legislation that would form the nation’s first federal office of insurance. The proposed office would be the first centralized authority on insurance matters and would enable the federal government to gain an insurance expertise as well as speak with one voice on international insurance policy. H.R. 2609, an amendment in the nature of a substitute, largely reflects the efforts of the Administration and Insurance Subcommittee Chairman Paul Kanjorski, D-Pa, but also enjoys broad-based bipartisan support. RIMS also views the legislation as a precursor to the Society’s long-held support of an optional federal charter for commercial property and casualty insurers and reinsurers.
RIMS is encouraged by the House of Representatives inclusion of H.R. 2609 in the regulatory modernization effort, and calls upon the Senate to include this same proposal in its version.

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About RIMS

As the preeminent organization dedicated to advancing the practice of risk management, RIMS, the Risk Management Society™, is a global not-for-profit organization representing more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. Founded in 1950, RIMS brings networking, professional development and education opportunities to its membership of more than 11,000 risk management professionals located in more than 60 countries. For more information on RIMS, visit www.RIMS.org.

 

For more information, contact:

Josh Salter, RIMS communications manager, (212) 655-6059 or jsalter@RIMS.org

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