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RIMS ON THE MALL LEGISLATIVE CONFERENCE EXPLORES

KEY RISK MANAGEMENT ISSUES IN CALIFORNIA

On March 19^th and 20^th, 2013, RIMS, the risk management society™, held its 5^th Annual RIMS on the Mall in Sacramento. The legislative conference gave members of RIMS’ California chapters the opportunity to meet with local legislators to discuss key risk management issues relevant to the State’s citizens and businesses.

The conference reviewed a wide-range of legislation including two important pieces of legislation supported by RIMS.

The first was AB 584 (Perea/Cooley): Risk and Solvency Assessment.  This bill would require all domestic, foreign, and alien insurers doing business in California to submit to the Insurance Commissioner an Own Risk and Solvency Assessment (ORSA) Summary Report on an annual basis. 

The second was AB 918 (Cooley): Emergency Preparedness. This bill authorizes the Office of Emergency Services to prepare, in voluntary cooperation with specific local governmental and nongovernmental entities, a specialized plan to mobilize senior citizens and disabled persons during an emergency or natural disaster.

To review RIMS’ opinion on these two bills, click AB 584 and AB 918. For more information, contact RIMS Government Affairs Senior Manager Nathan Bacchus at nbacchus@RIMS.org.

The expanded regional RIMS on the Hill events are part of a strategic initiative to expand the scope of RIMS’ foothold in legislative and regulatory matters in addition to RISK PAC, which was created in 2011. RIMS will continue to be a watchful advocate on the national front, but will also dedicate resources to its regional RIMS on the Hill events in coming years. For more information on RIMS legislative initiatives or to reach out to a member of Congress, visit www.RIMS.org.