Risk Managers Form Political Action Committee

Risk managers have started a new political action committee to support the campaigns of candidates for Congress.

The Risk and Insurance Management Society (RIMS) has registered the new PAC with the Federal Election Commission.

Scott Clark, president of RIMS, said the RIMS board of directors unanimously voted to authorize the establishment of RISK PAC to “help elect candidates who will advance the practice of risk management and the interests of our members on public policy issues important to the risk management profession.”

RIMS maintains a government relations department in Washington, D.C. to lobby for RIMS’ positions on issues and maintain relationships with industry groups, government agencies and federal and state legislators.

“RISK PAC will strengthen the voice of RIMS members in the U.S. Congress on enterprise and strategic risk management and insurance issues,” says Mary Roth, executive director of RIMS.

Under federal law, RIMS is restricted from making political contributions to federal candidate campaigns and political committees. RIMS may, however, create a separate segregated fund, or political action committee, and pay all the administrative costs of operating the PAC.

Terry Fleming, immediate former president of RIMS, has agreed to serve as the chairman of the RISK PAC Trustees Committee. The committee, to be comprised of RIMS members, will govern RISK PAC and report to the RIMS board of directors.

“RISK PAC gives over 3,000 RIMS deputies in the U.S., representing more than 6,000 individuals, a way to legally pool their voluntary donations and support federal candidates,” says Fleming. “This is an important advocacy tool and will help increase awareness and understanding of the interests of risk management among our nation’s policymakers.”