NEW YORK (February 19, 2026) – To best support RIMS, the risk management society’s® founding principles, the Society’s Public Policy Committee is charged with evaluating legislative, regulatory, and legal developments and identifying priorities that have a significant impact on risk professionals’ ability to implement insurance and risk mitigation strategies for their organizations. The Committee has identified the following as the RIMS legislative priorities for 2026 and will focus on these issues at the upcoming RIMS Legislative Summit scheduled for March 18-19 in Washington, DC:
- THIRD-PARTY LITIGATION FUNDING
Protecting organizations against nuclear verdicts and other legal exposure is quickly climbing to the top of most risk professionals’ priority lists. Third-party litigation funding (TPLF) exacerbates legal exposures, enabling outside investors to finance plaintiffs’ lawsuits in return for a portion of any settlement or award. RIMS is advocating for greater transparency around these funding arrangements and urging Congressional leaders to prevent foreign third parties from financing U.S. civil litigation.
- TERRORISM RISK INSURANCE ACT
In 2019, RIMS celebrated the reauthorization of Terrorism Risk Insurance Act, a Federal law signed by U.S. President George W. Bush in 2002 that created a federal backstop for insurance claims related to acts of terrorism. TRIA is set to expire in December 2027. RIMS will, once again, advocate for TRIA’s value and the critical role it plays in ensuring the affordability and availability of insurance in major cities while also establishing a public/private insurance response to catastrophic losses resulting from terrorism.
- NATIONAL FLOOD INSURANCE PROGRAM
RIMS will continue to call for the reauthorization of a long-term National Flood Insurance Program (NFIP). The program is the primary source of flood insurance coverage for residential properties in the U.S. The NFIP encourages private insurance companies to remain in the flood insurance market, helps property owners and developers to better protect assets, and includes provisions to fund flood zone mapping and building code standards updates.
NONPROFIT TAX REFORM
Last year, the incoming administration held preliminary discussions about prioritizing a tax reform that would seek tax revenue from tax-exempt organizations. Those initial conversations were said to include a 21% corporate tax rate on all net, non-donation income. While those conversations never materialized, RIMS has joined the Steering Committee of ASAE’s Community Impact Coalition to protect the nonprofit community, educate Congress on the societal benefits of the tax-exempt sector, and to help ensure that such a tax burden is not reintroduced.
ABOUT RIMS LEGISLATIVE SUMMIT 2026
RIMS Legislative Summit 2026 is scheduled for March 18 and 19, 2026 in Washington, DC at the U.S. Chamber of Commerce. On March 18th, the event will feature an educational program delivered by risk professionals, government relations professionals, and Congressional staff members. The sessions will cover the top legislative issues impacting the risk management and insurance communities, as well as strategies for effective lobbying. On March 19th, attendees will meet with elected officials and their legislative staff to share RIMS position on current and future legislation. To learn more and to register, visit RIMS Legislative Summit 2026.
ABOUT RISK PAC – THE RIMS POLITICAL ACTION COMMITTEE
RIMS political action committee – RISK PAC – was formed to allow RIMS, through contributions from RIMS members, to provide financial support to the campaigns of U.S. elected officials who understand and support RIMS legislative priorities. All U.S. RIMS members are permitted to contribute to RISK PAC and donations of any amount are accepted. To contribute, visit the RIMS RISK PAC page.
ABOUT RIMS
RIMS, the risk management society®️, empowers risk professionals to make the world safer, more secure, and more sustainable. Through networking, professional development, certification, advocacy, and research, RIMS serves more than 200,000 risk practitioners and business leaders from over 75 countries. Founded in 1950, the Society publishes the award-winning Risk Management Magazine, RIMScast podcast series, and produces RISKWORLD®️, the largest annual gathering of global risk professionals. RIMS welcomes all risk professionals to explore the online Risk Knowledge library, earn the RIMS-CRMP certification, and connect with the global risk community via the RIMS Engage online forum. Follow RIMSorg on X, Facebook, Instagram, and RIMS on LinkedIn. To support the future of the risk management profession, visit RIMS, The Foundation for Risk Management®. To learn more or to join, visit www.RIMS.org.
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