As RIMS 2014 kicks off in Denver, Mary Roth, executive directorof the Risk and Insurance Management Society Inc., speaks withNU's Shawn Moynihan about TRIA, a proposed rule that wouldchange the way employee injuries are reported, and what she'sseeing among the Society's membership in terms of cyber liability,among other topics.

Q: A bi-partisan agreement was recently introduced forlong-term TRIA extension, but obviously a solution there stillseems pretty far off. What do you think it will take for TRIA to beextended? How must the industry, and RIMS in particular, educateand convince lawmakers of the importance of this issue? 

A: RIMS thinks that it is important for the industry, andparticularly risk professionals, to continue to educate members ofCongress that TRIA is not just an insurance issue, but also aneconomic one. We are already seeing the effects on the workerscompensation market, particularly in areas with high concentrationsof employees. Further, allowing TRIA to expire could have farreaching ramifications on construction contracts and lendingagreements which could set the economy back. We hope that all riskprofessionals will reach out to their Congressional representativesand join us for RIMS Legislative Summit in June to furtheremphasize the importance of extending TRIA in a timely manner.

Similarly, in a comment letter to the OccupationalHealth and Safety Administration (OSHA), RIMS disapproved of aproposed rule that would require organizations to electronicallydivulge statistics regarding employee injuries and change thecurrent reporting system, forcing risk practitioners to duplicatetheir record-keeping and data submissionresponsibilities. Accepting data submitted through thecurrent Electronic Data Interchange system, it was said, would be abetter option. I'm curious as to your take on this, and what mightbe a more thoughtful approach here.

Accepting data through the Electronic Data Interchange wouldcertainly be a good step. Many of our members already use thissystem, so it would be costly to use another. We would also like tosee some form of protection for organizations reporting this data.We have concerns with how this publically available informationcould be misused, whether through enforcement targeting or by otherorganizations looking for an unfair competitive advantage.

Do you think the still-recovering economy has had anaffect on risk managers' ability to buy appropriate levels ofinsurance coverage? Have lower earnings across the board doneanything to fundamentally alter risk appetites, and if so, how? Ifnot, why?

The argument can be made that with a better understanding of anorganization's risks, it will be better positioned to invest in newtechnologies, research and development or other opportunities thatcan produce significant financial rewards. Understanding theinsurance market can have the same advantages. Every summer, RIMSand Advisen publish the RIMS Benchmark Survey that provides datafrom more than 52,000 insurance programs from 1,500 organizationsto further educate members on the markets' intricacies. Accordingto the 2013 Survey, the average Total Cost of Risk increased fivepercent in 2012, placing more stress on organizations' to affordnecessary coverages.

Let's talk about the RIMS Marketplace platform. I knowthe society was very excited about it as an alternative to the RIMSBuyer's Guide. Why?

RIMS Buyer's Guide was a terrific directory; RIMS Marketplace isso much more. Having a strong network can be the difference betweensuccessfully navigating a risk or falling to its consequences. RIMSMarketplace gives risk professionals access to solution providers,those providers' latest news, videos, presentations, social mediapages and other intellectual property. For providers, the resourceallows them to not just connect with an engaged audience but alsodeliver information about the value of their services and otherthought leadership.

What are you seeing among the RIMS membership in termsof cyber liability? At this point, even with repeated high-profilebreaches being reported (and who knows how manymore not reported), the prevailing sentimentseems to be that it's a coverage everyone should have, but it'sstill a hard sell. Does the Society have any resources that it isdeveloping on this front?

The challenge to protect data has become increasingly difficultfor organizations, no matter the size or the industry. Cyberconcerns remain a top risk that our members face, in fact,"Avoiding Cyber Liability Pitfalls–Lessons Learned from RiskManagers, Legal and Forensic Experts" is a Hot Topic Session atRIMS '14. Throughout the year, the Society will produce severalworkshops and webinars on this evolving risk management challenge,giving practitioners access to some of the industries' mostaccomplished thought-leaders. Already scheduled during our RIMSCanada Conference is the "Cyber Risk and Data Security Management"workshop in Winnipeg lead by Walter C. Boyd Jr., Esq., CIPP/G,CHPSE, a senior privacy advisor and consultant, and Deena Coffman,CEO of IDT911.