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Advocacy in Action - Tracy Flynn's Experience at the RIMS Legislative Summit

In October of this year, our very own Tracy A. Flynn AIC, AIS, Chief of Risk Management with the City of Jacksonville had the opportunity to participate in the RIMS (Risk and Insurance Management Society, Inc.) Legislative Summit held in Washington, DC. Tracy, who currently serves as the Chapter's Vice President of Events and Chapter Advocate was asked to share her experiences and insights into this impactful event, shedding light on the significance of advocating for the risk management profession at a national level. For those who are not familiar with this event, the Legislative Summit is an annual event that brings together risk management professionals from all over the country to engage with policymakers and discuss key issues affecting the industry. Tracy added the Legislative Summit is also "an opportunity to network with RIMS leadership and other Risk Managers..., [from both] public and private sectors." 

Glimpse into the Legislative Summit

For some, this opportunity may feel daunting and a lack of experience may hinder their ability to effectively advocate on key issues. The summit agenda features a Congressional Staff Panel and a "How to Lobby" Training session. Coupled with networking opportunities and team breakout sessions, these activities will equip every participant with essential tools to embark on their path to becoming an effective advocate. Tracy, who attended the summit for the first time, shared that it was a privilege to represent the Northeast Florida RIMS Chapter. She noted that "about 25% of those who attended were first-timers." With roughly 100 RIMS representatives traveling to Washington, DC she felt "RIMS did a very good job of preparing [attendees] for the legislative meetings as well as pairing [them] with seasoned advocates." Among the RIMS representatives from Florida were Barry Dillard, MBA, RIMS-CRMP (Disney), Chauncey Fagler (FCSRMC), and Liz Smith, MS-RMI (PODS) who was another first-timer attending. 

Initiatives: Issues Facing the Risk Community

Each year the Public Policy Committee & RISK PAC Trustees select key issues impacting the risk management profession that will be discussed with members of Congress and their staff. For example, in 2022 the issues that were discussed included pandemic risk insurance, flood insurance, and cybersecurity. For 2023, the issues that were discussed included NFIP reauthorization, data privacy, and a federal insurance backstop for catastrophic events. We asked Tracy to elaborate on several of the issues discussed and why they should matter to members of the RIMS community. See her responses below:

• Freedom to Invest in Tomorrow's Workforce - This is an act that would expand when and how 529 plans can be used for education, including trade schools, licensure, and certifications. HR1477, S722
• Tracy's Insight: "This Act would expand qualified expenses under 529 savings plans to include postsecondary training and credentialing, such as licenses and professional certifications. The bill would provide valuable tax-advantaged resources for families, students, and workers—with or without a college degree—who pursue career growth, mid-career changes, or pathways that diverge from a typical academic route, such as Trade Schools or apprenticeships."
• Data Privacy Act of 2023 - This would amend the current Gramm-Leach Blilely Act to modernize and standardize the protection and handling of personal information for individuals. HR1165, HR8152
• Tracy's Insight: "A national standard for data protection would provide uniformity, clarity, and certainty to businesses and consumers alike. Most states have enacted their own form of data privacy and data breach notification laws, which has created a patchwork of state laws that can cause confusion and lessen efficiency, especially for businesses operating in multiple jurisdictions."
• National Flood Insurance Program Reauthorization and Reform Act of 2023 - This act will allow FEMA to continue selling and renewing policies for millions of properties in communities across the nation. S2142, HR4349
• Tracy's Insight: "Congress must renew the NFIP's statutory authority in order to continue, which is set to expire on November 17, 2023. If the NFIP is not reauthorized or amended by Congress and lapses, the authority to provide new flood insurance contracts will expire. In addition, the authority for NFIP to borrow funds from the Treasury will be reduced from roughly $30B to only $1B. We are advocating for Congress to reauthorize the NFIP through at least December 2024 and to pass the "National Flood Insurance Program Reauthorization and Reform Act of 2023" (S. 2142/H.R. 4349) which would reauthorize the NFIP through September 2028. 
• Pandemic Risk Insurance Act (PRIA) - This act would require insurers to offer coverage in all commercial property and casualty lines of insurance for insured losses resulting from public health emergencies or future pandemics. The federal government would provide a backstop. 
• Tracy's Insight: "A  public/private business continuity insurance program is necessary to ensure the availability of federal pandemic insurance coverage while bolstering the development of private reinsurance and capital market alternatives to reduce taxpayer exposure moving forward. It is important to note that this effort is not about COVID-19 but rather is about the next national health emergency our country faces. Our goal is for Congress to create the infrastructure to better prepare our nation for the next pandemic, whenever it may be. 

Memorable Moment(s)

When asked to share a memorable moment/experience Tracy was most impressed with her conversations with Senator Rick Scott's Staffer, Katie Weissert. She added, that Katie "was knowledgeable, interactive, and very welcoming. She seemed very informed and interested in what we were presenting." When asked about attending the event again, Tracy expressed a resounding yes, highlighting the eye-opening experience of witnessing the workings of Washington, DC. She shared that "watching the staffers, seeing the offices, and being part of that everyday fabric was fascinating." Tracy went on to say "if you have interest in making an impact in the decisions and legislation that is affecting the risk arena on a federal level, this the event for you. The interaction you have with other high-level risk managers is invaluable and is key to forming relationships with peers and those in the risk community that have the most influence." 

Capital Tour with Senator Jon E. Sununu - Behind-The-Scenes

Tracy recounted the Capital tour led by former Senator John E. Sununu as a highlight of the week. It had been at least 30 years since she had last done a tour on a personal trip. The distinguished and well-qualified tour guide for the evening provided true behind-the-scenes access to attendees, shared information that one would not receive on the public tour, and took the group to the old Senate Chamber which was Tracy's personal favorite. She had this to share about the old Senate Chamber, "the history made there and the simplicity of such a formal place really resonated with me." To add to the tour the group witnessed an active set as the Senate was holding a floor vote that evening and the press was in attendance to watch Senators moving in and out during the vote. 

 In addition to the group's tour guide being a former Senator, there was a notable connection between Senator Sununu and insurance, as he sits on the Board of Lloyd's of London. Tracy mentioned that Sununu provided insights into the current state of the insurance market during the opening reception, offering valuable perspectives on both international and domestic markets. She added, "he understands insurance, the insurance market, and what influences the market. He attended our opening reception the second night and spoke to the group about the current state of the market, including some of the drivers of the international and domestic insurance and reinsurance markets."

Conclusion

 In conclusion, Tracy's experience at the RIMS Legislative Summit serves as a testament to the importance of advocacy in the risk management profession. Her insights provide a glimpse into the inner workings of Washington, encouraging RIMS members to actively participate in shaping the industry's future at a national level!

We would like to thank Tracy for sharing her valuable insights and experiences at the RIMS Legislative Summit. To learn more about this event and the issues that were discussed at the 2023 RIMS Legislative Summit be sure to chat with Tracy at our next Chapter meeting and check out www.rims.org. 

Tracy Flynn is Chief of Risk Management for the City of Jacksonville, Florida’s largest city and the 11th largest city in America.  Tracy directs risk management, insurance placement, safety, claims, compliance, and business continuity objectives for the City. She has previously held leading roles in claims and risk management with the State of California, Marriott Hotels, and various Tier 1 auto manufacturers and suppliers.  Serving on multiple steering committees and boards has honed her skills as a leader, negotiator, planner, and diplomat.  She earned her Bachelor of Science in Business Administration in Marketing and Management from Sonoma State University School of Business and Economics and has over 24 years of experience in the risk management arena.