| RIMS Announces Keynote Speakers for 2012 Annual Conference & Exhibition | 1/19/2012 |
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| RIMS ON THE HILL: Tallahassee, Florida -- January 2012 | 1/18/2012 |
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| Deborah Luthi Named 2012 President of RIMS | 1/3/2012 |
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| RIMS Letter to U.S. Treasury Calls for More Uniform State Insurance Regulations | 12/15/2011 |
RIMS LETTER TO U.S. DEPARTMENT OF THE TREASURY CALLS FOR MORE UNIFORM STATE INSURANCE REGULATIONS
RIMS Files Comment Letter Recommending Federal Oversight in Modernizing Insurance Regulation
NEW YORK (December 15, 2011) – An official comment letter submitted by RIMS (the Risk and Insurance Management Society, Inc.) to and at the request of the U.S. Department of the Treasury stressed the Society’s support for more uniform and national insurance regulations that would enable commercial insurance consumers to readily and affordably purchase the appropriate lines of insurance, pivotal to their organization’s economic stability and well-being.
“With a state-by-state patchwork of laws related to producer licensing and forms and procedures, additional costs are commonly incurred by consumers; inefficiencies have become more profound, raising questions about fundamental fairness in the insurance market,” said RIMS President Scott B. Clark. “The recent implementation of the surplus lines law is a great example of the confusion caused by state-by-state implementation of a Congressional directive.”
Other key issues in the comment letter filed by RIMS include:
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RIMS requests that the Federal Insurance Office Director’s report to Congress advocate for greater uniformity through Congressional action to clarify its intent for the states to adopt such a standard. The recommendation was made to counter the inherent weakness in the state-based system that allows states to legislate variance to national standards or model laws or simply apply or interpret these standards in a manner that diverges from any national standard.
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RIMS identifies the lack of uniformity in licensing requirements, new product entry, requirements, or terms and conditions, without any sound policy justification for differences as creating significant barriers to entry into the market.
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In regards to insurance subsidiaries of groups that are internationally active, RIMS advocates in favor of credit to be given to the capital held at the subsidiary level and that capital requirements should be the same for domestic and international insurers and subsidiaries. Disparate regulations can lead to lower credit ratings, higher borrowing costs for international groups, as well as affect capacity and therefore increase cost of insurance to consumers.
On December 9, 2011, Janice Ochenkowski, former RIMS President and current Chair of the Society’s International Committee attended a one-day conference held by the Department of the Treasury titled “Insurance Regulation in the United States: Modernization and Improvement.” The session brought together approximately 100 industry leaders, insurance regulators and association experts to explore the challenges and best practices to enhance the country’s current insurance system.
Both the conference and solicitation for comment by Treasury are part of an effort to seek input from interested parties on a study and report due to Congress early next year. The report is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Link to full letter.
For more information about RIMS External Affairs initiatives or about the RIMS International Committee, visit www.RIMS.org. |
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| Risk Management Monitor Named to LexisNexis “Top Blogs 2011” List | 11/22/2011 |
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| RIMS Launches Website for RIMS 2012 Annual Conference & Exhibition | 11/16/2011 |
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| Soft Market Seemingly Hits Bottom, According to RIMS Benchmark Survey | 11/15/2011 |
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| Risk Management Hall of Fame Nomination Form Now Available | 11/9/2011 |
Deadline to Submit: December 31, 2011 |
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| Paychex Wins 2011 RIMS ERM Award of Distinction | 11/4/2011 |
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| RIMS Immediate Past-President Appointed to Maryland’s Workers' Compensation Benefit & Insurance Oversight Committee | 11/2/2011 |
Terry Fleming, immediate past-president of RIMS, has been appointed to Maryland's Workers' Compensation Benefit & Insurance Oversight Committee. |
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| RIMS Opposes Harmful Tax Penalty on Reinsurers | 10/14/2011 |
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| RIMS ON THE HILL: Lansing, Michigan | 10/10/2011 |
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| RIMS Ontario Chapter Presents Glen Frederick with the Prestigious Donald M. Stuart Award | 9/19/2011 |
Drew Collins Named this Year’s Winner of the Fred H. Bossons Award At the 2011 RIMS Canada Conference, the Risk and Insurance Management Society, Inc. (RIMS) Ontario Chapter presented the Donald M. Stuart Award to Glen Frederick, Director, Risk Management Client Services – Core Government and Crowns in the Risk Management Branch of the Government of British Columbia. |
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| 2011 RIMS Canada Conference: CAPITAL CONNEXIONS to Explore Current and Future Risk Management Trends | 9/15/2011 |
Canada’s largest gathering of risk professionals takes place September 18-21 in Ottawa, Ontario
The Risk and Insurance Management Society, Inc.'s (RIMS) Canadian Capital Chapter will host the annual RIMS Canada Conference at the Ottawa Convention Centre, September 18-21, 2011 in Ottawa, Ontario. The conference brings together some of Canada's and the world's most renowned thought leaders in the risk and crisis management discipline who will share their approach to challenges they have encountered throughout their careers. |
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| RIMS to Host Inaugural Enterprise Risk Management Conference | 8/17/2011 |
Risk Professionals to gather in San Diego, November 1 - 3 to take on innovation in ERM NEW YORK (August 17, 2011) — RIMS will host its first full conference devoted to Enterprise Risk Management (ERM), RIMS ERM Conference 2011, at the Westin Gaslamp in San Diego November 1 through 3, 2011. Resiliency, stakeholder engagement and ERM tools and techniques will be just a few of the many topics covered through a series of sessions, roundtable discussions and solutions showcase. The program is designed to meet the needs of those considering an ERM program, those who have partially implemented ERM and those with fully integrated programs. |
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| Soft Market May be Near Bottom, According to Latest RIMS Benchmark Survey™ | 8/11/2011 |
Second quarter renewals were essentially flat for three of four lines tracked by the survey. NEW YORK (August 11, 2011) – A lack of substantive change in average renewal premiums for three of four lines tracked by the RIMS Benchmark Survey™ in the second quarter suggests that the soft commercial lines insurance market may be close to its bottom. General liability, property and workers’ compensation all fell by less than 1 percent on average, while directors & officers liability policies renewed 4.5 percent lower. The survey, which is administered by Advisen Ltd., tracks changes in policy renewals as reported by risk managers. |
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| RIMS Approved as Accredited Standards Organization by American National Standards Institute | 7/15/2011 |
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| Members of Congress Address RIMS on the Hill 2011 Attendees | 6/15/2011 |
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| RIMS Director Named to Treasury & Risk’s 2011 100 Most Influential People in Finance | 6/7/2011 |
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| RIMS President to Speak at 3rd Asian Risk Management Conference - RIMS Members Receive 20% Discount on Registration | 5/24/2011 |
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| RIMS’ 13th annual RIMS on the Hill Legislative Conference | 5/20/2011 |
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| RIMS Defines an Emerging Discipline | 5/3/2011 |
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| Eighth Annual Excellence in Risk Management Study Results Released at RIMS 2011 | 5/3/2011 |
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| RIMS & Chartis Announce Inaugural Inductees to Risk Management Hall of Fame | 5/2/2011 |
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| RIMS Presents Highest Industry Honors at 2011 Annual Conference & Exhibition | 5/2/2011 |
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| RIMS 2011 Community Service Day to Benefit Youth Athletic Program | 4/26/2011 |
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| RIMS and Chartis Announce Formation of Risk Management Hall of Fame | 4/25/2011 |
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| Commercial insurance premiums again tumble as capacity grows, according to RIMS Benchmark Survey™ | 4/25/2011 |
Average premiums fall in three of four lines tracked by the survey. NEW YORK (April 25, 2011) – What appeared to be an effort by underwriters to hold the line on premiums gave way under the pressure of a highly overcapitalized market in the first quarter of 2011, according to the RIMS Benchmark Survey™, administered by Advisen Ltd. Three of the four lines of business tracked by the survey posted material decreases in average renewal premium, as reported by risk managers. |
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| RIMS Announces Hot Topics at 2011 Annual Conference & Exhibition | 4/5/2011 |
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| RIMS Establishes Federal Political Action Committee | 4/1/2011 |
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| Support RIMS' Relief Efforts in Japan | 3/30/2011 |
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| State Legislative Conferences in Texas, California and Florida | 3/24/2011 |
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| RIMS Supports New Legislation to Ease Medicare Secondary Payer Reporting Requirements | 3/22/2011 |
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| RIMS Partners with Bloomberg Businessweek to Produce Special Section on Risk Management | 3/15/2011 |
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| An Overview of Widely Used Risk Management Standards & Guidelines | 3/15/2011 |
A new executive report from RIMS NEW YORK (March 15, 2011) — Today, RIMS announced the release of its latest executive report, An Overview of Widely Used Risk Management Standards & Guidelines. The report, a joint production of the RIMS Standards & Practices and RIMS Enterprise Risk Management Committees, is designed to provide the reader with a view of six widely used risk management standards, guidelines and self-described “best practices” to help identify common elements in each and to simplify the arduous process of wading through competing standards, frameworks and guidelines related to risk management. |
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| RIMS Expresses Mixed Reaction to Obama's 2012 Budget Proposal | 2/15/2011 |
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| Recent Changes to the ACORD Form – Cause and Effect | 2/15/2011 |
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| RIMS 2011 Annual Conference & Exhibition to Address Cyber Risk, Energy Resources, Social Media Threats and More | 2/14/2011 |
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| Excellence in Risk Management VIII - Take part today! | 2/9/2011 |
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| Identity Theft 911 Leads Cyber Risk Training for RIMS | 1/27/2011 |
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| Commercial Insurance Pricing Little Changed in Q4, but Soft Market is Far From Over, According to RIMS Benchmark Survey™ | 1/24/2011 |
Average D&O premium continues to fall, but other lines show stability during the quarter. NEW YORK (January 24, 2011) – Average renewal premiums for commercial lines property & casualty insurance were largely unchanged during the fourth quarter of 2010, according to the RIMS Benchmark Survey™, administered by Advisen Ltd. Directors & Officers Liability (D&O) was the only line tracked by the survey experiencing a material decrease, falling almost 5 percent compared to the prior year. Advisen analysts caution, however, that a turn in the market is not imminent. |
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| RIMS Concerned Over Cuomo Announcement to Consolidate New York Insurance Department | 1/11/2011 |
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| RIMS Unveils New Look | 1/10/2011 |
Bold new logo highlights RIMS’ commitment to an all-encompassing approach to risk NEW YORK (January 10, 2011) — The Risk and Insurance Management Society, Inc. (RIMS) today unveiled a new appearance that emphasizes the organization’s growth strategy. By way of the initiative, which includes a contemporary new logo and compelling tagline (pictured above), RIMS aims to capture the evolving nature of risk management. RIMS’ focus includes strategic and enterprise risk management and the new branding speaks to strategy and integration. |
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| Ensuring Value and Sustainability from Your ERM Investment: Major Concepts from RIMS 2010 ERM Summit | 1/3/2011 |
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| RIMS Introduces 2011 President and Board of Directors | 12/21/2010 |
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| RIMS ON THE HILL: Tallahassee, Florida -- January 2012 | |
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