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RIMS


October 2016 Newsletter 10/31/2016

Whitney B. Warrick RIMS Director of Government Relations

US Department of Labor Releases Workers Compensation Report
The United States Department of Labor (DOL) issued a 43-page report on the condition of state-based workers' compensation systems. The report, prompted by a Congressional letter, calls for a new federal commission to review how the state-based workers’ compensation system is run. Secretary of Labor Thomas Perez plans to use this report as a platform for workers’ compensation reform moving forward. Additionally, in response to the report, Senator Sherrod Brown (D-OH) has stated that he is drafting legislation to address some of the issues identified in the DOL report. To read the report click here.

RIMS Opposes Foreign Reinsurance Legislation
RIMS, as a member of The Coalition for Competitive Insurance Rates (CCIR), issued a press release opposing legislation introduced by Sen. Mark Warner (D-VA) and Rep. Richard E. Neal (D-MA) (S. 3424 and H.R. 6270) to raise taxes on foreign-based companies providing reinsurance to US affiliates. The Warner-Neal legislation closely resembled a provision in President Obama’s FY 2017 budget that would deny a routine business tax deduction for certain reinsurance premiums paid to foreign-based affiliates by domestic insurers. This legislation is the fourth time Congressman Neal has sought to impose this punitive tax, and RIMS has opposed each iteration. To read the press release click here.

OSHA Issues Proposed Rule to Modernize Standards
The Occupational Safety and Health Administration (OSHA) announced 18 proposed changes to the agency's recordkeeping, general industry, maritime, and construction standards. OSHA states that the proposed revisions are estimated to save employers $3.2 million per year by modernizing OSHA standards, helping employers better understand their responsibilities, increasing compliance, and reducing compliance costs. To view a summary of the changes click here.​ 


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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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