RIMS, the risk management society, announces its legislative priorities for 2026, identifying third-party litigation funding and the reauthorisation of the Terrorism Risk Insurance Act (TRIA) as critical issues for the industry. The RIMS Public Policy Committee is tasked with evaluating legal and regulatory developments to support the ability of risk professionals to implement mitigation strategies for their organisations.
The society intends to focus on these priorities during the RIMS Legislative Summit scheduled for 18 to 19 March in Washington, DC. A primary concern for the upcoming year is third-party litigation funding, which the society suggests exacerbates legal exposures by allowing outside investors to finance lawsuits. RIMS is advocating for increased transparency regarding these arrangements and is urging congressional leaders to prevent foreign entities from financing civil litigation in the US.
The looming expiration of TRIA in December 2027 also remains a high priority. The act, originally signed in 2002, provides a federal backstop for insurance claims related to acts of terrorism. RIMS plans to begin early advocacy efforts to ensure a seamless reauthorisation process, citing the importance of the backstop for maintaining market stability.
Additionally, the society is monitoring the Federal Trade Commission (FTC) proposal to ban non-compete clauses. RIMS argues that such a ban could threaten the protection of proprietary risk data and trade secrets, potentially impacting the competitive advantage of various organisations. The society also continues to support the Clarifying Lawful Overseas Use of Data Act (CLOUD Act) to streamline how law enforcement accesses data stored across international borders.
Jennifer Santiago, RIMS president, says: “RIMS is committed to ensuring that the voices of risk professionals are heard by policymakers. Our 2026 legislative priorities reflect the most pressing challenges facing our members and the broader business community. By advocating for sensible solutions to these issues, we can help to create a more stable and predictable environment for risk management.”
The society also highlights its ongoing work with RISK PAC, the RIMS political action committee, which provides financial support to US elected officials who align with the legislative goals of the risk management profession.
