The Risk and Insurance Management Society (RIMS) has joined a coalition including movie companies and hospitality groups that is campaigning for a US Government-backed business interruption insurance program.

The Business Continuity Coalition has brought together groups from COVID-hit industries to develop a plan with policyholders to limit impacts from future pandemics and other national emergencies.

RIMS CEO Mary Roth says it’s encouraging to see an increased recognition of the value of risk management, and the society will be sharing experience from within its network.

“The COVID-19 global health pandemic has taught business leaders many valuable lessons, most importantly the need for insurance solutions to protect assets and employees and keep their enterprises up and running amidst a health crisis,” she said.

Other coalition members include the American Hotel and Lodging Association, Fox Corporation, the Independent Film and Television Alliance, the International Council of Shopping Centers, the National Football League, National Restaurant Association, the National Association of Manufacturers, The Real Estate Roundtable and The Walt Disney Company.

The Business Continuity Coalition backs a bill introduced last year – the Pandemic Risk Insurance Act – that was inspired by the Terrorism Risk Insurance Act. The proposed law would impose mandatory insurer participation.