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RIMS on the Hill 2010 Recap

As Congress was in the midst of debating its financial regulatory modernization legislation, more than 40 RIMS members gathered for the 12th annual RIMS on the Hill Legislative Conference in Washington, D.C. on June 6-8.

On the first day of the program, RIMS legislative priorities were presented to attendees in preparation for lobbying members of Congress. This year's event focused on three legislative priorities: HR 3424, which would deny tax deductions for insurance ceded to foreign affiliates; the Medicare Secondary Payer Enhancement Act (HR 4796); and the risk committee provision included in the Senate’s financial regulatory reform package.

Brad Kading of the Association of Bermuda Insurers and Reinsurers joined Christine Vaughn of Vinson and Elkins LLP to discuss the consequences of the controversial tax legislation (HR 3424) introduced by Rep. Richard Neal (D-MA). Currently being debated in the House, it has found opposition from consumer groups, foreign governments and state insurance commissioners. Despite these objections, a similar proposal is included in the Obama Administration’s FY 2011 budget.

The Medicare Secondary Payer Enhancement Act was explored in a panel discussion with David Farber, a lawyer and leading expert on Medicare secondary payer laws, and Katie Fox, manager of the Medicare Secondary Payer Compliance and Resolution Unit for MedInsights, Inc. They presented a case for RIMS’ support of this bipartisan legislation to remedy current problems in the implementation of the Medicare Secondary Payer process.

Attendees also enjoyed a luncheon with keynote speaker Charlie Cook, publisher of the "Cook Political Report" and political analyst for the National Journal Group. Cook writes weekly for National Journal magazine and CongressDailyAM, and is a regular columnist for the Washington Quarterly.

On day two, members took action on Capitol Hill. This year, more than 60 meetings were arranged for RIMS members to meet with their legislative representatives. In some cases, members were able to speak directly with their elected officials.

Visit the RIMS on the Hill 2010 image gallery to browse through more photos. 

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