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The Risk & Insurance Management Society Inc. on Wednesday said its political action committee will be soliciting donations to support the organization’s engagement with Congress on a potential reauthorization of the National Flood Insurance Program.
In a statement, RIMS warned that the program’s Sept. 30 expiration would leave many businesses with significant lapses in flood coverage, difficulty in procuring affordable coverage and uncertain of current and future flood regulation within their jurisdictions.
“For thousands of organizations, the reality that access to affordable flood insurance might disappear and that their businesses would instantly become susceptible to destruction caused by flooding is unacceptable,” RIMS Vice President Robert Cartwright Jr. said in the statement. “RIMS has launched a grass-roots effort to ensure that the commercial insurance buyer’s voice is heard and that legislators are reminded of the consequences of the NFIP’s expiration and the need for expedient action.”
RISK PAC will begin soliciting donations on Wednesday to allow RIMS to continue to engage and support members of Congress who have demonstrated their commitment to the reauthorization of the NFIP, according to the release.
The Risk & Insurance Management Society Inc. said Wednesday that it has sent a letter to U.S. Treasury Secretary Steven Mnuchin voicing its support for the proposed covered agreement reached between the United States and the European Union.