Rims promises to keep battling for public-private partnership for pandemic risk

US risk management society Rims said creating a public-private partnership for pandemic risk and moves to protect cybersecurity and data privacy are among its top legislative priorities for the year.

Introduced in November last year, the proposed Pandemic Risk Insurance Act (PRIA) in the US would create a federally-backed risk transfer programme, providing compensation for business interruption losses due to a pandemic or outbreak of communicable disease.

Rims has backed calls for a public-private partnership to help companies tackle pandemic risk and will be supporting the PRIA legislation this year.

As first reported in our sister publication Business Insurance, Rims said the PRIA would “help create a much softer market for buyers of pandemic risk insurance”.

Rims will also focus on helping to define a federal US framework for protecting privacy and data systems, and explore the patchwork of state laws that govern data privacy.

The New York-based organisation’s external affairs committee met last month to review existing and looming legislation, and define its top legislative priorities for 2022.

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