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RIMS March Government Affairs Update 2015 3/31/2015

Nathan Bacchus, RIMS Sr. Government Affairs Manager

TRIA Interim Guidance and Request for Comment on Certification
On March 6, RIMS submitted its comments to the Department of Treasury relating to changes to the TRIA certification process. The comments call for a 60 to 90 day deadline for certification of a terrorist event as well as suggestions for expediting and streamlining communication and estimates of losses. The full letter can be found here.  

California RIMS on the Mall Legislative Event 
The 7th Annual RIMS on the Mall event was held in Sacramento, CA on March 17-18th. Nearly 20 RIMS members attended the two day event which featured speakers such as California Insurance Commissioner Dave Jones, legislative staff, and CA Director of Industrial Relations Christine Baker. Attendees then met with their legislators to discuss legislative issues of importance to risk managers. 

Cybersecurity Legislation
On March 17, the Senate Intelligence Committee passed the Cyber Information Sharing Act of 2015. The legislation offers liability protections to private companies who participate in a cyber threat information sharing framework. More information on that legislation can be found here. The RIMS External Affairs Committee continues to monitor and study this issue and more information will be forthcoming. 

NAIC Cybersecurity Guidelines

The National Association of Insurance Commissioners newly formed Cybersecurity Task Force has released its draft of “Principles for Effective Cybersecurity Insurance Regulatory Guidance.” This document will be the guiding document going forward for all of the NAICs efforts on cybersecurity. The draft is open to comment until April 10. If you do have comments you would like RIMS to consider, please send to

Texas State Legislative Conference
The Texas RIMS Legislative Conference is scheduled for Wednesday, March 8th in Austin, TX. If you are interested in attending, please contact Nate Bacchus, RIMS Sr. Government Affairs Manager, at

2015 RIMS Legislative Summit
The 2015 RIMS Legislative Summit has been scheduled for June 8-9, 2015 in Washington D.C. This year’s event will be held at the Capitol Visitor’s Center directly on Capitol Hill. For more information, please contact or visit the Legislative Summit site

RISK PAC Annual Report
The 2014 RISK PAC annual report has now been released. You can find the full report here.  

RISK PAC Reception
The annual RISK PAC reception will be held on Monday, April 27 at 5:15 pm CT in the Rivergate Room of the convention center. This year’s featured guest will be Louisiana Insurance Commissioner, and former NAIC President, James Donelon. If you are interested in attending the reception, please RSVP to by April 13th.  

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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 10,000 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

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