Whether it is at a local chaptermeeting or in the halls of Congress, the Risk and InsuranceManagement Society is setting an ambitious goal to increase itsinfluence over issues that affect the world of risk, says theassociation's president.

During a press conference, Deborah M. Luthi said a major focusof the association is politics and compliance risk for itsmembership. The association today is in the process of building thetools it will need to be an effective advocate of regulatory issuesin the future.

This is the purpose of RIMS' Political Action Committee, whichLuthi says is a bi-partisan vehicle aimed at ensuring “RIMS has aspot at the table and our voice is heard.”

RISKPAC, now in its second year, currently stands at $28,000, andshe says members need to help raise that figure. She saysrisk-management colleagues need to understand that their personalcontribution to the PAC is how they will have a voice in politicalaffairs. 

Dan Kugler, board liaison to RIMS external-affairs committee andassistant treasurer of corporate risk management at Snap-on Inc.,(and a member of NU's Risk Managers Advisory Board), notedthere are several pieces of federal legislation RIMS has aninterest in and on which it is making its opinion known. Theseinclude reauthorization of the National Flood Insurance Program;the Risk Retention and Modernization Act governing captiveprograms; and HR3157,which RIMS opposes and is bottled up in Congress.

The latter bill, which would prevent the avoidance of taxthrough reinsurance through non-tax affiliates, would have theeffect of reducing capacity, among other adverse fallout for theinsurance industry.