| RIMS Calls for United States Government Action on Terrorism Insurance Solutions for Nuclear, Biological, Chemical or Radiological Events | 12/18/2008 |
The Risk and Insurance Management Society (RIMS) commends the Government Accountability Office (GAO) for its report on the availability of insurance coverage caused by acts of terrorism involving nuclear, biological, chemical or radiological (NBCR) weapons. The GAO was tasked to undertake the study by Congress when it passed the "Terrorism Risk Insurance Program Reauthorization Act of 2007" in December of last year. |
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| Joseph Restoule Takes Reins as President of World's Largest Risk Management Professional Organization | 12/17/2008 |
RIMS announces board of directors for 2009 term NEW YORK (December 17, 2008) — The Risk and Insurance Management Society, Inc. (RIMS) announced today that Joseph A. Restoule, CIP, CRM, will take the helm as president for the 2009 term, effective January 1. Restoule is leader of risk management at NOVA Chemicals Corporation. |
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| RIMS Supports NAIC Reinsurance Regulatory Modernization Framework Proposal | 12/10/2008 |
The Risk and Insurance Management Society, Inc. (RIMS) is encouraged that the National Association of Insurance Commissioners (NAIC) has approved the Reinsurance Regulatory Modernization Framework Proposal at its recent Winter National meeting. |
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| RIMS Chicago Chapter Pledges $100,000 to Spencer Educational Foundation | 12/8/2008 |
NEW YORK (December 8, 2008) — Spencer Educational Foundation has received a $100,000 commitment from the Risk and Insurance Management Society (RIMS) Chicago Chapter. |
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| Groundbreaking Study Validates Enterprise Risk Management Boost to Business Performance | 11/19/2008 |
RIMS State of ERM Report 2008 demonstrates link to higher credit ratings New York (November 19, 2008) — The Risk and Insurance Management Society (RIMS) and LogicManager today released RIMS State of ERM Report 2008. The report—the first truly in-depth study on ERM practices—unequivocally substantiates the value of ERM for organizations of all types. It also indicates that companies that have greater risk management and ERM maturity levels enjoy higher credit ratings. RIMS State of ERM Report 2008 is available here.
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| RIMS Announces New Online Business Training Library | 11/17/2008 |
50 training programs available NEW YORK (November 17, 2008) — The Risk and Insurance Management Society (RIMS) has made available a new library of online courses to help enhance risk practitioner business management and leadership skills. The 50-course collection was developed by Winchester Center for Management Development, a subsidiary of MindEdge, Inc., a premier information and learning company.
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| RIMS Hosts Virtual Conference on Risk Management | 11/6/2008 |
Society leverages 3-D technology for optimal conference experience NEW YORK (November 6, 2008) — The Risk and Insurance Management Society (RIMS) announces a new learning forum for risk practitioners—the first-ever RiskLive! RIMS Virtual Conference & Expo taking place November 12-13 in cyberspace. Participants from around the world will log in to participate in learning, networking and a virtual exhibit hall. |
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| RIMS and Ernst & Young Launch Risk Insights | 10/28/2008 |
White paper series addresses current issues impacting the risk management profession NEW YORK (October 28, 2008) — The Risk and Insurance Management Society (RIMS) and Ernst & Young present Risk Insights, a series of articles that provide insight into various risk management and insurance-related issues. The white paper series is available at no cost as a benefit to RIMS members. |
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| Third Quarter RIMS Benchmark Survey™ Shows Relentless Softening Despite Hurricanes and Financial Calamity | 10/23/2008 |
But deteriorating results may hint to a turn in the market NEW YORK (October 23, 2008) — Two major hurricanes and a global credit crunch were not enough to derail the relentless soft commercial insurance market in the third quarter, according to RIMS Benchmark Survey™, the industry's leading survey of policy renewal prices as reported by North American corporate risk managers. However, lower insurance industry net income may signal a coming turn in the insurance pricing cycle. |
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| RIMS Endorses NY Insurance Superintendent's Policy on Contract Certainty | 10/21/2008 |
RIMS encourages other states to follow New York's lead NEW YORK (October 21, 2008) — The Risk and Insurance Management Society, Inc. (RIMS) commends New York State Insurance Department Superintendent Eric Dinallo for asserting a strict policy on contract certainty for brokers and insurers operating in-state, calling for 90 percent of cases to achieve contract certainty within 30 days of inception and enforcing that service providers are in compliance within the next 12 months. |
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| RIMS Publishes 2008 Risk Management Compensation Survey | 9/29/2008 |
For the first time, survey covers salary information for Chief Risk Officers NEW YORK (Sept. 29, 2008) — According to the 2008 Risk Management Compensation Survey, the average base salary for a chief risk officer/vice president, risk management, of a U.S.-based company is $170,683. Salary information for this position as well as other senior risk management levels is included for the first time in the survey, which was released today by the Risk and Insurance Management Society (RIMS). Survey data was compiled by enetrix®, a provider of online survey services and e-commerce solutions to associations. To read the executive summary of the 2008 Risk Management Compensation Survey, click  here. |
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| RIMS Ontario Chapter Presents Donald M. Stuart Award at 2008 RIMS Canada Conference in Toronto | 9/22/2008 |
Society also honors recipients of Fred H. Bossons Award NEW YORK (September 22, 2008) -- The Risk and Insurance Management Society (RIMS) Ontario Chapter earlier today presented the Donald M. Stuart Award to George Simpson, CRM, FCIP, at the 2008 RIMS Canada Conference in Toronto. Created by RIMS Ontario Chapter in 1979, the award is granted annually to a Canadian risk professional in recognition of one's outstanding contributions to the profession. The Donald M. Stuart Award is RIMS highest honor for risk management in Canada. |
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| RIMS Opposes Legislation to Increase Tax on Non-U.S. Reinsurers | 9/22/2008 |
NEW YORK (September 22, 2008) --The Risk and Insurance Management Society, Inc. (RIMS) announced its opposition to legislation disallowing tax deductions for reinsurance premiums paid to foreign affiliates that exceed the industry average for each line of property and casualty insurance business. The legislation, H.R. 6969, was introduced on Friday by Rep. Richard E. Neal, D-Mass., a senior member of the U.S. House of Representatives Committee on Ways and Means. |
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| RIMS Addresses Financial Crisis | 9/22/2008 |
Organizes series of webinars featuring thought leaders who will provide insight on insurance and financial market changes In light of the recent turmoil in the financial markets, many RIMS members are reevaluating their risks and exposures. While there is some relief in the risk community from the government intervention secured last week, uncertainty of the long term impact still exists.
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| RIMS SUPPORTS ADVANCEMENT OF INSURANCE INFORMATION ACT | 9/16/2008 |
Calls for Congress to pass H.R. 5840 and S. 929 to promote insurance accessibility and affordability NEW YORK, N.Y., September 16, 2008—The Risk and Insurance Management Society, Inc. (RIMS) supports efforts to bring H.R. 5840, the Insurance Information Act of 2008, to the floor of the U.S. House of Representatives this week. This important legislation represents a much-needed step forward in the process of financial services modernization, particularly in light of current financial market turmoil. |
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| RIMS ISSUES POSITION ON WEAPONS IN THE WORKPLACE | 9/15/2008 |
Statement on Weapons in the Workplace
September 2008
Employers have a legal obligation to maintain a safe and healthful workplace for their employees. To protect workplace safety, employers must establish rules and policies applicable to employees and others who enter onto their work premises. |
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| SECOND QUARTER RIMS BENCHMARK SURVEY™ SHOWS SOFT MARKET SLOGS ON DESPITE LOWER INDUSTRY EARNINGS | 8/5/2008 |
Heading into hurricane season, average property premium plummets NEW YORK, N.Y., August 5, 2008--As insurance company earnings begin to show the strain of eroding rate levels, average premiums fell for all major commercial line insurance in the second quarter of 2008, according to RIMS Benchmark Survey™, the industry's leading survey of policy renewal prices as reported by North American corporate risk managers. |
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| RIMS Media Advisory: RIMS Testifies at Broker Compensation Hearings | 7/25/2008 |
The Risk and Insurance Management Society (RIMS) today called upon the insurance industry to eliminate certain broker compensation arrangements at a public hearing in New York City. Janice Ochenkowski, ARM, RIMS president and managing director at Jones Lang LaSalle Incorporated, testified on behalf of the Society to New York Superintendent of Insurance Eric Dinallo and New York Attorney General Andrew Cuomo. |
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| RIMS ANNOUNCES NEW ONLINE PROGRAM AND CERTIFICATION FOR CONSTRUCTION RISK AND INSURANCE SPECIALIST (CRIS®) | 7/15/2008 |
Program focuses on specific needs for risk managers in the construction sector NEW YORK, N.Y., July 15, 2008--The Risk and Insurance Management Society (RIMS) announced today the addition of an online program and certification-Construction Risk and Insurance Specialist (CRIS®). The curriculum--developed by International Risk Management Institute, Inc. (IRMI)--allows risk practitioners to develop specialized expertise in construction risk and insurance. More information is available at www.RIMS.org/CRIS. |
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| RIMS SUPPORTS LEGISLATION MOVED BY INSURANCE SUBCOMMITTEE | 7/9/2008 |
House subcommittee tackles insurance issues to promote accessibility and affordability NEW YORK, N.Y., July 9, 2008--The Risk and Insurance Management Society (RIMS) endorses the legislation marked up and favorably reported by the U.S. House of Representatives Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. The Insurance Information Act and the Increasing Insurance Coverage Options for Consumers Act were hot topics at RIMS on the Hill legislative conference where RIMS members met with members of Congress and staff to lobby for both bills in June 2008. The two bills are legislative priorities for insurance buyers and risk managers. |
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| RIMS HOSTS WEBINAR ON ENTERPRISE RISK MANAGEMENT | 7/3/2008 |
Partners with Stanford Center for Professional Development and Strategic Decisions Group to explore what top management wants in an ERM program NEW YORK, N.Y., July 3, 2008--The Risk and Insurance Management Society, Inc. (RIMS) announced that it will present a free one-hour webinar covering C-suite needs and enterprise risk management (ERM) programs. The webinar is hosted in conjunction with the Stanford Center for Professional Development and Strategic Decisions Group. Complete details are online at www.RIMS.org/ERMwebinar. |
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| FLORIDA RIMS EDUCATIONAL CONFERENCE TO ATTRACT 600 RISK PROFESSIONALS | 7/2/2008 |
NEW YORK, N.Y., July 3, 2008--The 33rd Annual Florida Risk and Insurance Management Society (RIMS) Educational Conference takes place on July 29-August 2, 2008 in Naples, Florida. More than 600 risk professionals are expected to attend. The conference is hosted by all seven RIMS Florida chapters. Complete details are online at http://florida.RIMS.org. |
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| RIMS CANADA CONFERENCE TO ATTRACT MORE THAN 1,500 RISK PROFESSIONALS FOR FOUR DAYS IN TORONTO | 6/30/2008 |
Event features nearly 20 educational sessions, more than 80 exhibitors and numerous networking events for the Canadian risk community NEW YORK — The 33rd Annual Risk and Insurance Management Society (RIMS) Canada Conference will take place on September 21-24 in Toronto, Ontario. More than 1,500 risk professionals and industry partners are expected to attend. The conference is hosted by RIMS Ontario Chapter. Complete details are available at http://conference.RIMScanada.org. |
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| RIMS WESTERN REGIONAL CONFERENCE CONVENES IN SAN FRANCISCO | 6/4/2008 |
NEW YORK, N.Y.—The 52nd Annual Risk and Insurance Management Society (RIMS) Western Regional Conference kicks off on September 2-5 in San Francisco. More than 100 risk professionals are expected to attend. The conference is hosted by RIMS Golden Gate Chapter. Complete details may be found at www.RIMS.org/wrc. |
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| SPENCER EDUCATIONAL FOUNDATION ELECTS NEW BOARD MEMBERS | 6/2/2008 |
NEW YORK, N.Y.—Spencer Educational Foundation, Inc. has announced the appointment of Brion E. Callori, ARM, and Andrew L. Miller to its Board of Directors. |
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| SPENCER EDUCATIONAL FOUNDATION ANNOUNCES DEVELOPMENT DIRECTOR | 5/14/2008 |
NEW YORK, N.Y.—Spencer Educational Foundation has announced that P. Richard Hackenburg, CPCU, has been contracted by the Foundation to be the Director of Development. Hackenburg will raise funds for scholarships and grant programs that support aspiring students of risk management and insurance. |
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| RIMS LAUNCHES RISK MANAGEMENT PROFESSIONAL GROWTH MODEL AT RIMS 2008 ANNUAL CONFERENCE & EXHIBITION | 4/30/2008 |
SAN DIEGO, CALIF.—The Risk and Insurance Management Society (RIMS) released its Risk Management Professional Growth Model today at RIMS 2008 Annual Conference & Exhibition in San Diego. RIMS Quality Advisory Council developed the model as a way to assess various risk manager experience levels and corresponding skill sets, and to be used as a guide in professional development. The career tool is being distributed to all RIMS members starting in May will be made available as a benefit to new members. |
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| SPENCER EDUCATIONAL FOUNDATION RECEIVES $100,000 GIFT FROM ZURICH FINANCIAL SERVICES | 4/29/2008 |
SAN DIEGO, CALIF. — Spencer Educational Foundation has received a $100,000 donation from Zurich Financial Services. |
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| SPENCER EDUCATIONAL FOUNDATION AWARDS $266,000 IN SCHOLARSHIPS TO RISK MANAGEMENT AND INSURANCE STUDENTS | 4/29/2008 |
Foundation extends $160,000 in program and university grants SAN DIEGO, CALIF. — Spencer Educational Foundation, Inc. announced today at the Risk and Insurance Management Society (RIMS) 2008 Annual Conference & Exhibition that more than $266,000 will be awarded to select undergraduate, graduate and doctoral students in the risk management and insurance disciplines. In addition, $160,000 will be used towards the Foundation’s programs and university grants. |
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| RIMS HONORS RISK MANAGEMENT’S SHINING STARS AT RIMS 2008 ANNUAL CONFERENCE & EXHIBITION | 4/29/2008 |
Society presents highest honors to accomplished members and chapters SAN DIEGO, CALIF. — The Risk and Insurance Management Society (RIMS) honored some of the risk profession's brightest stars today at RIMS 2008 Annual Conference & Exhibition in San Diego. |
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| NEW ADVISEN-RIMS STUDY FINDS SHIFTING RELATIONSHIP BETWEEN INSURANCE BUYERS AND BROKERS | 4/28/2008 |
Broker Services and Remuneration Study shows buyers driving brokers towards services, moving from commission to fees; Buyers still waiting for certain placement and non-placement services SAN DIEGO, CALIF. — The Risk and Insurance Management Society (RIMS) and Advisen, Ltd. announce the release of the Broker Services and Remuneration Study as part of the 2008 RIMS Benchmark Survey™ book. The study—based on data gathered in February from 1,519 participants—has found that insurance buyers are driving brokers to change their service offerings and the way brokers are compensated. |
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| RIMS PLEDGES $10,000 DONATION TO MONARCH SCHOOL IN SAN DIEGO | 4/25/2008 |
Gift to support programs for homeless and at-risk children SAN DIEGO, CALIF. — The Risk and Insurance Management Society (RIMS) has announced a $10,000 donation in honor of the 400 speakers at RIMS 2008 Annual Conference & Exhibition to the Monarch School, a San Diego-based school that provides accredited educational programs and a stable environment for homeless and at-risk youth. |
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| RIMS ATLANTA CHAPTER PLEDGES $100,000 TO SPENCER EDUCATIONAL FOUNDATION | 4/17/2008 |
Dozens of students to benefit from donation NEW YORK — Spencer Educational Foundation has received a $100,000 commitment from the Risk and Insurance Management Society (RIMS) Atlanta Chapter to be contributed over a three-year period beginning in 2008. The scholarship has been created in memory of Dr. Edgar J. (E.J.) Leverett, founder of the University of Georgia (UGA) risk management and insurance program. |
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| NEW 2008 RIMS BENCHMARK SURVEY™ BOOK FINDS TOTAL COST OF RISK FALLS AGAIN | 4/17/2008 |
Annual publication reveals risk managers experiencing material benefits as soft market continues to create highly competitive insurance company and broker pricing practices; Accompanying broker study shines additional light on market dynamics NEW YORK, N.Y. — According to the forthcoming 2008 RIMS Benchmark Survey™ book published by the Risk and Insurance Management Society (RIMS), the commercial insurance industry continued to experience an overall decline in total cost of risk (TCOR) in 2007. The 2008 RIMS Benchmark Survey™ book provides risk managers with objective and actionable insurance market information based on the insurance programs of more than 1,000 participants from the U.S. and Canada. |
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| RIMS SUPPORTS INCREASING INSURANCE COVERAGE OPTIONS FOR CONSUMERS ACT | 4/16/2008 |
NEW YORK, N.Y.—The Risk and Insurance Management Society, Inc. (RIMS) supports the efforts of Congressman Dennis Moore, D-Kansas, and Congresswoman Deborah Pryce, R-Ohio, on introducing HR 5792 Increasing Insurance Coverage Options for Consumers Act to the U.S. House of Representatives yesterday. This important legislation represents a much-needed step forward in increasing coverage options for commercial property insurance. |
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| RIMS ISSUES POSITION ON BROKER COMPENSATION | 5/30/2007 |
Statement on Industry Compensation and Placement Practices
May 2007
Much has changed since RIMS issued its August 2005 statement on industry compensation and placement practices. In response to regulatory matters and settlement agreements, many brokers pledged to refuse to accept placement fees from insurers on business where they represent the buyer. RIMS applauded this action and supported the prohibition on the use of placement service agreements or other similar arrangements for the entire broker industry. We are disappointed to learn that some brokers are apparently reconsidering their pledge to refuse to accept these fees. |
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