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Risk and Insurance Management Issues in 2012

2012 brings issues on the state level regarding risk management, U.S.-wide.  The Risk and Insurance Management Society, Inc. (RIMS) provides education, information and strategies at their annual Conference.

Among these RIMS said in a statement that it plans to follow several state issues this year.  Included in this RIMS will work with New York State Sen. Jeffrey Kelin, D-Bronx/Westchester, to push for New York State to establish an Office of Risk Assessment.  This would then integrate comprehensive risk management into the State’s operations.

Property and Casualty Insurers Association of America, located in Des Plaines, Ill will be tracking legislative developments that involve the Florida Hurricane Catastrophe Fund.

Hurricanes in Florida, windstorms in Texas, and earthquakes in Virginia…these and other concerns are being examined.  Four states recently passed legislation defining construction defect claims as occurrences under commercial liability policies.  The insurance industry experts say this is a trend they expect will definitely continue.  Meanwhile, if you live in a high risk state, you may want to check out this disaster assistance sooner, rather than later!

Most states actually have not gone on to define occurrence.  The majority have acknowledged how important it is to allow insurers and policyholders to define the terms.  Even so, Mr. Jim Whittle, vice president and chief claims counsel for the American Insurance Association in Washington says “we do expect similar legislation in some places in the coming year.

In an uncertain World in which we have seen so many natural disasters and destruction it’s no wonder these issues are hot.  One wonders how much man is responsible himself for bringing on more of these disasters – disasters which might not have occurred in such abundance, or as frequently.

2012 has just begun, and while we all pray for a calm and peaceful Earth this year, on April 16-18 the Risk and Insurance Management Society, Inc. will be coming to the Philadelphia Convention Center to  bring industry professionals together for educational sessions and strategies to assist organizations of all kinds.  “Everyone has risk management responsibilities,” states the RIMS 2012 Annual Conference & Exhibition description.   They continue, “Sessions are offered at all experience levels…so you can design an educational experience that fits your needs.”

The Pensylvania Convention Center is located on 1101 Arch St., Philadelphia, PA 19107.  Meanwhile, you can never be too prepared.  Create a family plan!

 

Risk and Insurance Management Issues in 2012

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