In fulfilling our Mission to educate, engage and advocate for the Australasian risk and insurance community, the RIMS Australasia Chapter runs topical educational events and networking sessions and pursues key initiatives of relevance to our members. We provide some information about our current highlight initiatives in risk and insurance below.
Directors and Officers Insurance – Side C
The Chapter is keenly aware of the current level of claims activity in the Directors & Officers marketplace, particularly in respect of securities class actions targeting Entity, or as it is commonly referred to, Side C cover. The current level of claims paid or current pending, outstrips annual premium levels by a significant margin.
Clearly this situation, if left unchecked, will have significant and far reaching consequences for a marketplace where buyers of insurance seek to readily obtain adequate cover at reasonable pricing levels.
Given the above, the Chapter has embarked on a process of consultation with a number of industry stakeholder groups. While this initiative is currently is still in its formative stage, we will provide updates from time to time.
RIMS Australasia Diversity, Equality & Inclusion in Risk
The RIMS Australasia Diversity, Equality & Inclusion in Risk initiative is committed to achieving diversity within the risk and insurance professions; providing visibility of career paths and enhancing career progression; providing mentoring opportunities and a support network; and educational and networking opportunities through RIMS Australasia events.
Further details to be announced shortly about the newly formed committee and initiatives.