American Property Casualty Insurance Association
  • Staff Contact: Eileen Gilligan     
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Contact:

Eileen Gilligan

Phone:

202-639-0497

Email:

Eileen.Gilligan@pciaa.net

 

 

FOR RELEASE ON RECEIPT

February 12, 2014

PCI Reacts to House Majority Leader Cantor’s Statement on House Flood Relief Bill

 

WASHINGTON – Today, House of Representatives Majority Leader Eric Cantor announced plans to bring legislation to the House floor the week of February 24 that will address concerns about the implementation of the Biggert-Waters Flood Insurance Reform Act of 2012. Nat Wienecke, senior vice president, federal government relations for the Property Casualty Insurers Association of America (PCI) issued the following statement.

“PCI strongly supports a financially sound National Flood Insurance Program (NFIP). We understand the desire to address issues impacting flood insurance policyholders following the enactment of the Biggert-Waters Flood Insurance Reform Act of 2012. We are thankful that the Majority Leader is addressing these issues and protecting the NFIP. We look forward to working with members of the House to make appropriate changes that protect taxpayers, consumers, and the long-term fiscally soundness of the flood insurance program,” concluded Wienecke.

PCI’s members include more than two-thirds of the insurers that partner with the NFIP through the “write-your-own” (WYO) program to sell, service, and administer this federal program.

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.

 

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