RIMS joins BC Coalition to develop pandemics cover

US risk management society, RIMS has joined the Business Continuity Coalition to help build a more stable insurance market that will support organisations navigate future pandemics.

The Business Continuity Coalition represents a broad range of business insurance policyholders – large and small – from across the country. It works with policymakers and other US stakeholders to develop insurance programmes that ensure business continuity in the event of a pandemic or other emergency necessitating widespread closures of the economy.

“The COVID-19 global health pandemic has taught business leaders many valuable lessons, most importantly, the need for insurance solutions to protect assets, employees and keep their enterprises up-and-running amidst a health crisis,” said RIMS CEO, Mary Roth. “It is encouraging to see so many organisations – even those outside of the risk management and insurance space – recognise the value of risk management. We are excited to be a part of the Business Continuity Coalition, look forward to collaborating with others and are ready to share RIMS network’s vast experience to help advance this effort.”

Last year, RIMS announced its support for HR 7011 the Pandemic Risk Insurance Act of 2020, which was introduced by Congresswoman Carolyn Maloney (D-NY). Prior to that, the Society issued a letter in April 2020 to Congress and the Trump Administration supporting PRIA, highlighting the legislation’s propensity to provide greater access to capital from lenders, establish a viable insurance market with sufficient, affordable capacity and create certainty for businesses and organisations of all sizes across the United States.

The Business Continuity Coalition members are:

American Gaming Association

American Hotel and Lodging Association

American Institute of Architects

American Land Title Association

American Resort Development Association

American Society of Association Executives

Appraisal Institute

Associated General Contractors

Building Owners and Managers Association

CCIM Institute

CRE Finance Council

Exhibitions & Conferences Alliance

Fox Corporation

Independent Film & Television Alliance

Institute for Portfolio Alternatives

International Association of Exhibitions and Events

International Council of Shopping Centers

International Franchise Association

Live Nation

Marriott International

Motion Picture Association

National Apartment Association

National Association of Broadcasters

National Association of Home Builders

National Association of Manufacturers

NAIOP – Commercial Real Estate Development Association

Nareit

National Independent Venue Association

National Football League

National Restaurant Association

National Multifamily Housing Council

National Retail Federation

NCTA – The Internet & Television Association

Partnership for New York City

RIMS, the Risk Management Society

Society of Independent Show Organizers

Sony Pictures Entertainment

The Real Estate Board of New York

The Real Estate Roundtable

ViacomCBS

The Walt Disney Company

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