The US-based Risk and Insurance Management Society (RIMS) has established an Australasian chapter in Melbourne, with members in Sydney and New Zealand.

The group has about 10 to 12 foundation members – mostly large corporates – and intends to grow in Australia.

“We’re really excited by the association with RIMS,” Australasia Chapter President Eamonn Cunningham told insuranceNEWS.com.au.

“It’s a well-respected body – so respected that some senior leaders have testified to [the US] Congress. We’re dealing with a body [which has] a lot of credibility and experience.”

RIMS has more than 11,000 members in more than 60 countries.

Mr Cunningham, who has been a member of RIMS for more than 13 years, says he is excited to extend the society’s benefits to local risk management professionals.

“There’s a wealth of data, knowledge, support and networking opportunities to tap into.”

Educational material, regular bulletins and mentoring programs are available, Mr Cunningham says.

The chapter plans to hold regular meetings once it gains enough members, offering networking and discussion opportunities.

RIMS has also established a new chapter in Peru.

“Most companies today have some level of foreign exposure, requiring risk professionals to think globally when analysing threats and opportunities,” RIMS President John Phelps said.

“Expanding RIMS’ global presence with new chapters in these two countries makes it even easier for the society to share its wealth and resources.”