NEW YORK (January 15, 2025) — Recent legislation in Nevada that attempts to eliminate the availability of “defense within the limits” insurance coverage would significantly disrupt the state’s professional liability insurance market, according to RIMS Legislative Review: Exploring Nevada’s “Defense Within Limits” Laws.
Authored by RIMS Public Policy Committee member Katherine J. Henry, with the support of her colleague at Bradley, Associate Aaron Campbell, the report identifies three pitfalls that would result from Nevada’s decision to eliminate “defense within limits” provisions in commercial insurance policies, as well as strategies to proactively address them. The challenges highlighted in the report include:
- Increased insurance costs that trickle-down to consumers.
- Insurers potentially leaving the state due to legal cost uncertainty.
- Compliance issues for commercial insurance buyers with nationwide footprints.
RIMS Legislative Review: Exploring Nevada’s “Defense Within Limits’ Laws report is exclusively available to RIMS members for the first 60 days and then will be available to the greater risk community following that period. To download the report, visit RIMS Risk Knowledge library at www.RIMS.org/RiskKnowledge. For information about RIMS wide selection of risk management publications, learning experiences and events, visit www.RIMS.org.
RIMS LEGISLATIVE SUMMIT 2025
RIMS Legislative Summit 2025 is scheduled for March 19 and 20, 2025 in Washington, DC at the U.S. Chamber of Commerce. On March 19th, the event will feature an educational program delivered by risk professionals, elected officials and Congressional staff members. The sessions will cover the top legislative issues impacting the risk management and insurance communities, as well as strategies for effective lobbying. On March 20th, attendees will meet with elected officials and their legislative staff to share RIMS position on current and future legislation. To learn more and to register, visit RIMS Legislative Summit 2025.
RIMS PUBLIC POLICY COMMITTEE
The RIMS Public Policy Committee promotes and supports risk management by analyzing legislative, regulatory, and legal issues; recommending policy and viewpoints for RIMS; providing sound risk management responses to these issues and educating members on how these issues will affect their industry and/or profession. To learn more about RIMS advocacy efforts, visit RIMS Advocacy.
RISK PAC – THE RIMS POLITICAL ACTION COMMITTEE
RIMS political action committee – RISK PAC – was formed to allow RIMS, through contributions from RIMS members, to provide financial support to the campaigns of U.S. elected officials who understand and support RIMS legislative priorities. All U.S. RIMS members are permitted to contribute to RISK PAC and donations of any amount are accepted. To contribute, visit the RIMS RISK PAC page.
About RIMS
RIMS, the risk management society®️, empowers risk professionals to make the world safer, more secure, and more sustainable. Through networking, professional development, certification, advocacy, and research, RIMS and its 80 chapters serves more than 200,000 risk practitioners and business leaders from over 75 countries. Founded in 1950, the Society publishes the award-winning Risk Management Magazine and produces RISKWORLD®️, the largest annual gathering of global risk professionals. RIMS embraces diversity, equity and inclusion and welcomes all risk professionals to connect and learn, explore the online Risk Knowledge library, tune into the RIMScast podcast series, and engage with the RIMS Community on the Society’s social medial channels. To learn more, visit https://www.RIMS.org.
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