By PC360 Staff Writer
RIMS, the risk management society, has announced which legislative issues its Public Policy Committee will prioritize in 2026.
The organization’s 2025 legislative priorities included third-party litigation funding, data privacy and security, the National Flood Insurance Program, non-profit tax reform and the Invest in Tomorrow’s Workforce Act. Many of these issues remain on RIMS’ radar for the coming year.
The areas where RIMS plans to focus in 2026 include the following.
Third-party litigation funding
Like last year, third-party litigation remains at the top of RIMS’ priority list for 2026.
RIMS says: “Protecting organizations against nuclear verdicts and other legal exposure is quickly climbing to the top of most risk professionals’ priority lists. Third-party litigation funding (TPLF) exacerbates legal exposures, enabling outside investors to finance plaintiffs’ lawsuits in return for a portion of any settlement or award. RIMS is advocating for greater transparency around these funding arrangements and urging Congressional leaders to prevent foreign third parties from financing U.S. civil litigation.”
Terrorism Risk Insurance Act
RIMS says: “In 2019, RIMS celebrated the reauthorization of Terrorism Risk Insurance Act, a Federal law signed by U.S. President George W. Bush in 2002 that created a federal backstop for insurance claims related to acts of terrorism. TRIA is set to expire in December 2027. RIMS will, once again, advocate for TRIA’s value and the critical role it plays in ensuring the affordability and availability of insurance in major cities while also establishing a public/private insurance response to catastrophic losses resulting from terrorism.”
The TRIA created a temporary federal program that provides for a transparent system of shared public and private compensation for certain insured losses resulting from a certified act of terrorism. The program is managed by the Secretary of the Treasury, with assistance from the Federal Insurance Office.
National Flood Insurance Program
In 2026, RIMS will continue to call for the reauthorization of the National Flood Insurance Program.
RIMS says: “The program is the primary source of flood insurance coverage for residential properties in the U.S. The NFIP encourages private insurance companies to remain in the flood insurance market, helps property owners and developers to better protect assets, and includes provisions to fund flood zone mapping and building code standards updates.”
Non-profit tax reform
RIMS says: “Last year, the incoming administration held preliminary discussions about prioritizing a tax reform that would seek tax revenue from tax-exempt organizations. Those initial conversations were said to include a 21% corporate tax rate on all net, non-donation income. While those conversations never materialized, RIMS has joined the Steering Committee of ASAE’s Community Impact Coalition to protect the nonprofit community, educate Congress on the societal benefits of the tax-exempt sector, and to help ensure that such a tax burden is not reintroduced.”
The 2026 RIMS Legislative Summit will be held March 18 and 19 in Washington, D.C. at the U.S. Chamber of Commerce.
(Photo credit: Андрей Яланский/ AdobeStock)
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