WELCOME TO THE DELAWARE VALLEY CHAPTER WEBSITE!

 
 
Greetings!  Welcome to the Delaware Valley Chapter of RIMS! 
 
 
Please check out our Chapter Calendar under Meetings and Events for our future event lineup! Check here for more information about our meetings! Also feel free to take some time to explore the site and check out some of the changes and enhancements that have been recently made. 

See our Gallery that highlights RIMS special events! 

You may join our chapter by filling out the RIMS Membership Application here

Be sure to select the Delaware Valley Chapter

 


 

CHAPTER ANNOUNCEMENTS


January Meeting

Please join your peers for the Delaware Valley of RIMS January Chapter meeting. The meeting will be held on Tuesday, January 13, 2015 from 4:00 pm to 5:30 pm at St. David’s Golf Club, 845 Radnor Street Road, Wayne, PA 19087. Please note that this is an afternoon meeting. The meeting will be immediately followed by our Chapter Holiday Party.

 We will be joined by Wendy Peters, Senior Vice President, Terrorism Practice Group, of Willis. You may have read a recent status update from Wendy recently:

 Reports from Washington, D.C. today indicate that Capitol Hill may be finally closing in on a potential compromise to renew the Terrorism Risk Insurance Program Reauthorization Act of 2007 or TRIPRA. 

 As we have previously reported, the US Senate on July 17th, in a vote of (93-4), passed a bill (S.2244) sponsored by Senator Charles Schumer (D-NY) to extend TRIPRA, with minor modifications. However, no similar legislative proposal was moved through the House due to firm opposition to the continuation of the program by key members of the House Financial Services Committee.  With Chairman Jeb Hensarling (R-Texas) stating as recently as this week that program extension would “violate House spending rules,” a compromise seemed unlikely.  He further went on to say that “if Senate Democrats continue to insist on their ‘my way or the highway’ approach ….. a long-term reauthorization may have to wait until the next Congress.”  With Congress adjourning on the 11th of December, many have predicted a temporary, short-term extension which would achieve just that.

But now, initial reports of discussions held today between Chairman Hensarling, Senator Schumer House, Majority Leader Kevin McCarthy and other key members seem to indicate that a deal may be close to finalization.

What Might the deal look like?

The deal would maintain the federal insurance backstop passed by Congress, and extend the program for six years, incrementally increasing the program threshold to $200 million (from the current $100 million) and the coinsurance percentage to 20%  (currently 15%).  Many other provisions have yet to be negotiated, and it is not apparent how the dispute over the funding of the bill will be resolved.  There may also be a bifurcation between program thresholds for nuclear, biological, chemical and radiological events and those deemed as “conventional terrorism.”

While these encouraging signs signal movement away from the determined position of key House leadership, we caution that negotiations are still ongoing.   While agreement on the key points may be imminent, there is still the possibility that the extension could not ultimately be finalized before the end of the current session.

Please join us for an informative discussion from Wendy which will certainly bring us all up to speed on the latest updates.

There is a meeting fee of $40 for non-members of the Society to attend this meeting.

Please register for the meeting at http://cf.rims.org/Template.cfm?Section=View_All_Events&template=Calendar/CalendarEventDisplay.cfm&CalendarEventID=2922

 

Holiday Party

You are cordially invited to the 2014 DV-RIMS Holiday Party on Tuesday, January, 13th from 5:30 to 8:00 p.m. at St. David’s Golf Club, 845 Radnor Street Road, Wayne PA 19087.

Please join us for an evening of cheer, charity and comedy as we celebrate the Holidays and support Philabundance as our charity of choice for the Holidays.

 Admission will be $25and will be collected at the door. Admission includes food, one drink ticket and entertainment. Cash bar will also be available.

 Bring a food donation (please see list below for high priority items), or make a donation with a credit card, check or cash to receive a raffle ticket for door prizes

  Any question please contact Jeff Quinn - Jeff.Quinn@AlliedBarton.com 484.351.1430.

 

Make sure to register early as space will be limited!!

 Register by clicking on the following link:

 http://cf.rims.org/Template.cfm?Section=View_All_Events&template=Calendar/CalendarEventDisplay.cfm&CalendarEventID=2978

 Food Donation Ideas:

 Canned tuna
Macaroni and cheese
Canned pasta
Canned beef stew or chili
Creamy peanut butter
Jelly
Canned green beans or corn
Canned fruit
Breakfast cereal and hot cereal

Please note that there is a separate registration link for the Chapter meeting which begins at 4:00 pm, and a separate registration link for the Holiday party which begins at 5:30 pm. We ask that if you intend to attend both events that you click each link to register so that we can have an accurate headcount for both events.

 

To register for the Chapter meeting and discussion with Wendy Peters; click here:  http://cf.rims.org/Template.cfm?Section=View_All_Events&template=Calendar/CalendarEventDisplay.cfm&CalendarEventID=2922

 To register for the Holiday event beginning at 5:30 pm; click here: http://cf.rims.org/Template.cfm?Section=View_All_Events&template=Calendar/CalendarEventDisplay.cfm&CalendarEventID=2978

 

Thank you for your continued support of the chapter.

 

 

 

 

 

 

 

 

 

 

RISK NEWS

Insurance Industry ‘Disappointed’ by Senate’s Non-Renewal of TRIA

Last week’s optimism about the possible reauthorization of the Terrorism Risk Insurance Act was replaced by “disappointment” today, as the insurance industry sounded off about the Senate’s failure to pass the House-approved TRIA bill before adjourning. TRIA, the federal insurance backstop that requires insurers to offer terrorism insurance coverage to policyholders, is set to expire [...]

Annual Judicial ‘Hellholes’ Report is Out

Each year the American Tort Reform Association (“ATRA”) publishes its “Judicial Hellholes Report” and examines problems in state court systems and challenges for corporate defendants in the fair and unbiased administration of justice. The ATRA’s 2014 report was published this morning; a copy is here, as well as an executive summary here. Insofar as the report [...]

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