RIMS Legislative Agenda for 2025: Key Priorities in Risk Management
The Risk Management Society (RIMS) has unveiled its legislative agenda for 2025, focusing on critical areas designed to bolster the risk management profession. This initiative reflects the organization’s commitment to navigating the complexities of a rapidly evolving landscape, addressing pressing issues that affect businesses and risk professionals nationwide.
Advocating for Transparency in Litigation Funding
One of the foremost priorities outlined by RIMS is the call for enhanced transparency in third-party litigation funding. This issue has garnered attention due to the rising legal risks that threaten businesses across the United States. RIMS advocates for legislation that would prohibit foreign entities from financing civil lawsuits filed domestically, thereby safeguarding the integrity of the legal process and ensuring fair outcomes. By promoting transparency, RIMS aims to minimize the potential for conflicts of interest and protect the interests of American businesses.
Establishing a National Framework for Data Privacy and Cybersecurity
As businesses increasingly rely on digital solutions, the need for robust data privacy and cybersecurity measures has never been more urgent. RIMS is pushing for a cohesive national framework that standardizes data protection laws across states. This initiative seeks to replace the current patchwork of state regulations with a unified standard, enhancing operational efficiency and security for organizations. By advocating for this legislative change, RIMS aims to empower businesses to navigate the complexities of data management while safeguarding consumer information.
Reauthorization of the National Flood Insurance Program (NFIP)
The reauthorization of the National Flood Insurance Program (NFIP) is another critical area of focus for RIMS. The NFIP plays a vital role in providing flood insurance and incentivizing private insurers to engage in the flood insurance market. RIMS recognizes the importance of this program in protecting communities from the financial devastation caused by flooding and is committed to ensuring its continued viability.
Supporting Nonprofit Tax Reform
In light of ongoing tax reforms, RIMS is collaborating with the ASAE’s Community Impact Coalition to advocate for the protection of nonprofit organizations from unfavorable tax policies. These reforms are crucial for maintaining the societal impact of nonprofits, which play an essential role in communities across the nation. By engaging in this legislative dialogue, RIMS aims to ensure that nonprofits can continue their vital work without the burden of detrimental tax implications.
Investing in Tomorrow’s Workforce
RIMS is also championing the bipartisan Freedom to Invest in Tomorrow’s Workforce Act, which seeks to expand the scope of 529 savings plans. This initiative would allow individuals to use these plans for professional training and certifications, providing tax advantages for those pursuing diverse career paths. By supporting this legislation, RIMS aims to foster a more skilled and adaptable workforce, essential for meeting the challenges of the future.
Engaging with Lawmakers at the RIMS Legislative Summit 2025
RIMS will further discuss these legislative priorities at the upcoming RIMS Legislative Summit 2025, scheduled for March 19-20 in Washington, D.C. This event will feature educational sessions and opportunities for attendees to engage directly with lawmakers, fostering dialogue on the pressing issues facing the risk management profession.
Join the Conversation
As the risk management landscape continues to evolve, RIMS remains dedicated to advocating for policies that protect businesses and the profession. Stakeholders are encouraged to participate in discussions surrounding these legislative priorities and share their insights.
In essence, the RIMS legislative agenda for 2025 underscores the organization’s commitment to addressing the multifaceted challenges faced by the risk management profession. By prioritizing transparency, data protection, insurance reform, nonprofit advocacy, and workforce investment, RIMS is poised to make a significant impact on the future of risk management in the United States.
For more information about RIMS and its initiatives, visit the RIMS official website.