American Property Casualty Insurance Association
  • Staff Contact: Jeffrey Brewer     
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Contact:

Jeffrey Brewer

Phone:

847-553-3763

Email:

Jeffrey.brewer@pciaa.net

 

 

FOR RELEASE ON RECEIPT

February 11, 2014

Virginia Insurers Discuss Key Issues During Legislative Action Day

RICHMOND Va. - Insurance industry representatives had an opportunity to discuss key issues with state lawmakers today as they participated in the fourth annual Virginia Legislative Action Day held at the state capitol in Richmond.

The event, hosted by the Property Casualty Insurers Association of America (PCI) and the National Association of Mutual Insurance Companies (NAMIC), featured an address by David Irvin, senior assistant attorney general of Virginia who works in the Consumer Protection Section of the attorney general’s office. Joining him on the agenda was Richard Holcomb, Department Motor Vehicle commissioner and Roger Williams, Workers Compensation Commission chairman.

“Legislative Action Day provides an opportunity for the insurance community to hear from legislative and regulatory leaders and discuss issues such as workers compensation reform and towing and storage fees that have a direct impact on the industry’s ability to service their customers efficiently and effectively in Virginia,” said Micaela Isler, assistant vice president for PCI.

Virginia’s 2014-2015 legislative session, which convened Jan. 8 and is scheduled to meet until March 8, has reached the midpoint for 2014. Bills that have not advanced out of the chamber where they originated by today will be considered dead.  

“This is the first year of a two-year session and we look forward to working with lawmakers on issues that will help to maintain and promote the Commonwealth’s competitive insurance marketplace,” said Erin Collins, director of state affairs, Mid-Atlantic region for NAMIC.

Virginia’s property casualty industry plays a vital role the state’s economy by employing more than 8,000 people across the state and paying more than $6 billion in claims to Virginia residents every year.

PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $195 billion in annual premium, 39 percent of the nation’s property casualty insurance. Member companies write 46 percent of the U.S. automobile insurance market, 32 percent of the homeowners market, 37 percent of the commercial property and liability market, and 41 percent of the private workers compensation market.

NAMIC is the largest property/casualty insurance trade association in the country, serving regional and local mutual insurance companies on main streets across America as well as many of the country’s largest national insurers. Its 1,400 member companies serve more than 135 million auto, home and business policyholders, and write more than $196 billion in annual premiums.

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