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RIMS Supports Federal Insurance Office Legislation 12/3/2009

House Financial Services Committee Passes H.R. 2609

The Risk and Insurance Management Society, Inc. (RIMS) today announced its strong support of legislation that would form the nation’s first federal office of insurance. The proposed office would be the first centralized authority on insurance matters and would enable the federal government to gain an insurance expertise as well as speak with one voice on international insurance policy. H.R. 2609, an amendment in the nature of a substitute, largely reflects the efforts of the Administration and Insurance Subcommittee Chairman Paul Kanjorski, D-Pa, but also enjoys broad-based bipartisan support. RIMS also views the legislation as a precursor to the Society’s long-held support of an optional federal charter for commercial property and casualty insurers and reinsurers.
RIMS is encouraged by the House of Representatives inclusion of H.R. 2609 in the regulatory modernization effort, and calls upon the Senate to include this same proposal in its version.

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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.

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For more information, contact:

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

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