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RIMS


May2017 Newsletter 5/5/2017

Whitney B. Craig - RIMS Government Relations Director

House Introduces five-year NFIP Reauthorization Bill

In late May, the House Financial Services Committee Republican leadership released six discussion draft bills along with their summaries. The six draft bills will form the ultimate NFIP reauthorization bill or bills the House will introduce in June. In the drafts, the mandatory purchase by commercial properties has been eliminated implying that property holders will have to get flood insurance from the private market. These bills would reauthorize the program for five years, while the legislation to reauthorize the program introduced in the Senate would reauthorize the program for ten years. To view the draft bills click here.  


President’s Budget has Workers Compensation Implications

On May 23, 2017, The President's FY 2018 Budget was released. The $4.1 trillion budget drastically cuts or completely eliminates funding for numerous long-standing departments and initiatives, and raises spending in other areas. Specifically, the budget would eliminate the Workers' Compensation Reverse Offsets for Social Security in 15 states that were preserved in federal legislation in 1981. These states have plans that reduce workers' compensation benefits when the disabled worker is also receiving Social Security disability insurance benefits. This is known as reverse offset. To view the entire budget click here.

 

California RIMS Resumes Monthly Tele-Coffee Calls with DIR Director Christine Baker

On May 22, 2017, the California Legislative Delegation resumed monthly calls with Department of Industrial Relations Director Christine Baker. Workers compensation and DIR objectives were discussed, along with questions from attendees. Please email RIMSCLD@gmail.com if you would like your question asked during the next call, and to be added to the invite list. 


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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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