Skip Ribbon Commands
Skip to main content
symbol

RIMS


RIMS Backs U.S. Treasury Department's Proposed United States-European Union Covered Agreement 5/17/2017

 

Agreement Would Improve Access and the Management of Reinsurance
Between the United States and Europe
 
NEW YORK (May 17, 2017) – RIMS, the risk management society ™, delivered an official letter to The Honorable Steven T. Mnuchin, Secretary of the Treasury, U.S. Department of the Treasury, that expressed the Society’s support for the recently proposed U.S.-EU Covered Agreement on reinsurance.
 
The letter, submitted by RIMS President Nowell Seaman, cites the Covered Agreement’s propensity to benefit RIMS members – a constituency of approximately 11,000 risk management professionals – by:
•    Eliminating collateral requirements that would result in additional capital;
•    Increasing reinsurance capacity;
•    Requiring the appointment of insurance commissioners for service; and
•    Streamlining the dispute process by clarifying jurisdiction and payment of final judgements.
 
“For risk professionals to support their organizations’ expansion into global markets, it is important that RIMS advocates for regulation that facilitates opportunities for our members’ to effectively achieve their objectives,” said RIMS President Nowell Seaman. “RIMS is encouraged by the U.S.-EU Covered Agreement on reinsurance and looks forward to working with the Department of the Treasury to help bring this agreement to fruition.”
 
To read the full letter, click here.
 
For more information about RIMS External Affairs initiatives, visit www.RIMS.org.
 

# # #

About RIMS

As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society™, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 11,000 risk practitioners who are located in more than 60 countries. For more information about the Society’s world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org.

​ ​

For more information, contact:

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

POPULAR TOPICS


RIMS MARKETPLACE

Access the most comprehensive directory of solution providers for risk professionals.

myCOI

myCOI's suite of products provides you with the right solution to simplify the tracking process and minimize your risks of an uninsured claim and costly litigation...

RWH Myers

RWH Myers is committed to helping policyholders through business interruption and property damage claims, efficiently and accurately...

Navigant

Navigant represents policyholders in the analysis of losses and preparation of complex insurance claims...