Nearly 50 RIMS members gathered in Washington, D.C. in early June for the 13th annual RIMS on the Hill Legislative Conference. Ron Brownstein, renowned political observer, writer and Pulitzer prize-winner, addressed attendees during one of the sessions. Ron is political director for Atlantic Media Company and is a staple on Meet the Press, This Week, Face the Nation, Washington Week in Review and CNN. He has also been a national political correspondent and columnist for the Los Angeles Times, as well as a finalist for a Pulitzer prize for his coverage of the 1996 and 2004 presidential elections.
Rep. Ed Royce, R-Calif., was also on hand and praised the newly formed Federal Insurance Office. During his remarks, he expressed that in order to compete internationally, the U.S. insurance industry needs to have a voice at the international level and he urged risk managers to take a more direct role in shaping policy—part of the goal of the annual legislative gathering.
Rep. Peter Welch, D-Vt., who recently co-sponsored legislation that would allow risk retention groups to offer property as well as liability coverage to their members, addressed attendees during the gathering’s annual dinner. RIMS is in support of the bill, H.R. 2126.
In their meetings with legislators, attendees focused on the Strengthening the Medicare and Repaying Taxpayers Act of 2011, expansion of the Risk Retention Act to include property insurance and limits on deductibility of reinsurance premiums ceded by domestic insurers to offshore affiliates.