NEW YORK (March 15, 2022) — Advocating for the risk management profession is an integral part of RIMS, the risk management society®, mission. The Society’s External Affairs Committee met last month to review existing and looming legislative activity that could impact the profession. The committee identified these issues, activities, and resources as RIMS top legislative priorities for 2022:
PANDEMIC RISK INSURANCE ACT (PRIA)
Introduced by Congresswoman Carolyn Maloney (D-NY) on November 2, 2021, the proposed legislation would create a Federal program that provides a transparent system of shared public and private insurance-backed compensation for business interruption losses resulting from a pandemic or an outbreak of communicable disease. In doing so, it would help create a much softer market for buyers of pandemic risk insurance.
CYBER SECURITY AND DATA PRIVACY
As technology continues to evolve and organizations become more dependent on digital communication and online commerce, RIMS advocacy efforts in this arena will focus on helping to define a Federal framework for protecting privacy and data systems. The American Data and Dissemination Act, the Consumer Protect Act and the Data Care Act were presented in previous Congressional sessions but, currently, no similar bill is pending.
Additionally, RIMS will explore the patchwork of State-by-State laws that govern data privacy, including the California Consumer Privacy Act, the Massachusetts Data Privacy Act and others.
RISK PAC – THE RIMS POLITICAL ACTION COMMITTEE
RIMS political action committee – RISK PAC – was formed to allow RIMS members to provide financial support to U.S. elected officials who value legislation that aligns with RIMS priorities. All U.S. RIMS members are permitted to contribute to RISK PAC and donations of any amount are accepted.
RISK PAC will hold its annual reception at RISKWORLD 2022 in San Francisco on Monday, April 11. RISKWORLD attendees are invited to attend and connect with RIMS External Affairs Committee members to learn about the Society’s priorities and how to get involved. To learn more about RISK PAC, visit www.RIMS.org/advocacy. To contribute, visit https://cqrcengage.com/rims/riskpac1.
RIMS LEGISLATIVE SUMMIT
Scheduled for June 7 – 9, 2022, the RIMS Legislative Summit will be in-person in Washington, DC. On June 8th, attendees will have access to a series of educational sessions delivered by risk professionals, elected officials and government representatives. The sessions will cover the top legislative issues impacting risk management and insurance, as well as strategies for effective lobbying. On June 9th, attendees will meet with elected officials and their legislative staffs to share RIMS position on current and future legislation.
For more information about RIMS Advocacy, visit www.RIMS.org/Advocacy.
RIMS, the risk management society®, is a global professional association committed to advancing the practice of risk management throughout the world. We bring networking, professional development, certification, and education opportunities to our membership of 10,000 risk management professionals in over 60 countries. Founded in 1950, the Society represents more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. To access RIMS Risk Knowledge resource library and for additional information about the Society, visit www.RIMS.org.
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