Los Angeles Chapter of Risk and Insurance Management Society

Next Meeting

June 9th, 2021
"LA RIMS Golf Tournament"

News Items

How to Make the Most Out of 2021’s Virtual Conferences for Rising Risk Professionals and Employers
Amid a second wave of the COVID-19 pandemic, people around the world are going back into lockdowns or rolling back phased reopenings, and it appears remote work arrangements and virtual events will continue to be the norm for many. Throughout the pandemic and now, moving into 2021, these shifts have prompted serious consideration about what it means to connect at work and how to build and maintain relationships in your professional network without seeing people in person.

PAID Act Becomes Law, Fixing Medicare Secondary Payer Flaw
On December 11, the Provide Accurate Information Directly (PAID) Act was signed into law as a part of the funding bill to keep the government running. A top priority of RIMS Advocacy since it was introduced in 2019, the PAID Act will fix a current flaw in Medicare Secondary Payer (MSP) compliance. Specifically, the PAID Act amends 42 U.S.C. § 1395y(b)(8)(G) to require that the Centers for Medicare and Medicaid Services (CMS) expand its Section 111 Query Process to identify whether a claimant is currently entitled to, or during the preceding 3-year period has been entitled to, Medicare Part C (Medicare Advantage) and/or Medicare Part D (prescription drug) benefits. If so, CMS is then required to provide the names and addresses of any such Medicare plans through the Section 111 Query Process. Included in the bill is a one-year implementation provision that requires the fix to go live by December 11, 2021.

Three Ways to Reduce Insider Threat Risks During COVID-19
Months into the pandemic, organizations have recovered from the initial emergency of trying to ensure that their employees could safely work from home. They now realize that this remote reality will be extended--and they need to determine if they have the right cybersecurity protections in place. Most importantly, they need to stop insider threats, which account for more than 30% of all data breaches.

How Businesses Can Become More Eco-Responsible
The Environmental Protection Agency (EPA) estimates that 75% of the U.S. waste stream is recyclable, yet only about 30% of it is recycled. Even though individuals can be more diligent in their daily lives, businesses can make a larger difference at a greater scale, while setting a precedent for people within their company. This weekend's America Recycles Day, celebrated on November 15, is a great opportunity to take action.

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President's Message

Jeff Stolle
Greetings from my home office! I hope all of our LA RIMS members and friends are doing well in this new Covid world. I almost wrote post-Covid world, but realized that we are, unfortunately, still a ways away from a "post" Covid world. Nothing you or I can do about, we just need to adjust to this new normal and hope that we can eventually get back to our pre-Covid routines.

No one is immune from the effects of the pandemic, including our small group of risk and insurance management professionals. From dealing with Covid related claims to Covid related clean-up, the risk management industry is actively involved with the ramifications of this virus. While we have had to change the way we work, never has the work we do been more important.

The fallout of Covid has impacted every organization in one way or another, including our Chapter and the Society. Initially we canceled a couple of lunches, then the national Conference was canceled, then our Golf Tournament, the Summer Social, etc...so let's just all forget about 2020 and hope for a great 2021!

The LA RIMS Chapter has officially cancelled/postponed all of our in-person events for rest of 2020. We were hoping we could move the Golf Tournament to October and still have the Holiday Party, but, with an abundance of caution, the Board made the decision to look forward to 2021.

We are looking at virtual opportunities for the remainder of the year with such events as virtual Risk Managers Roundtables and other educational/networking events hosted by our Platinum sponsors.

I hope many of you were able to listen in on our weekly Covid update calls we hosted with the DFW and Chicago RIMS Chapters from April through June, they were a great source of information when this pandemic was just getting started and we were all learning how to adjust to the new realities. This is the type of educational outreach we want to bring to our membership.

With that said, there is currently so much risk management content available virtually from RIMS and others, that the Chapter wants to only focus on experiences that are unique and customized to our membership. Stay tuned!

The good news is our Golf Tournament is already scheduled June 9th, 2021 and the inaugural Summer Cruise is scheduled for August 12, 2021 – mark your calendars! Other than those two events, we are waiting to see what opportunities exist for other in-person educational and networking events in 2021.

One of the current opportunities that we have right now is the chance to become a LA RIMS Platinum Chapter Sponsor for the rest of 2020 and all of 2021 (for only the one year cost). Recently we announced all Platinum sponsors for 2020 would roll over to 2021 at no cost. While many of the benefits of being a sponsor are at the individual events; the on-going presence on our website, on all of our emails, shout-outs on LinkedIn, and ability to host a virtual event exclusive to our members are some of the benefits you continue to get in this virtual world of LA RIMS.

Recently we have added two new Platinum members to our esteemed sponsor portfolio: Bolen & Associates and AIMS/Allied Managed Care. They join FM Global, Willis Towers Watson, ATI Restoration, EPIC Insurance Brokers and BluSky Restoration as our 2020-2021 Platinum Sponsors. THANK YOU!


Upcoming Events:
June 9th, 2021
LA RIMS Golf Tournament

August 12th, 2021
FantaSea Yachts Cocktail Cruise

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LA RIMS Thank Our Sponsors

Become a 2021 Sponsor

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