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

March 5, 2014

PCI Outlines Priorities for NCOIL Spring Meeting

International Issues Top PCI Agenda

 

CHICAGO - Engagement on international issues will be a top priority for the Property Casualty Insurers Association of America (PCI) at the Spring National Conference of Insurance Legislators (NCOIL) meeting in Savannah this March 7 – 9 as NCOIL lawmakers set out to determine their agenda for action in the global arena.

PCI will also be closely following developments associated with the Property-Casualty Insurance Committee’s consideration a proposed resolution in support of No Pay, No Play laws and proposed model act regarding Medicaid interception of insurance payments at this meeting. Additionally, PCI will be monitoring the committee’s discussions regarding proposed regulation of consumer litigation funding.

“NCOIL’s agenda for this meeting is aggressive and timely. It will set the stage for a series of very busy meetings throughout 2014,” said Frank O’Brien, vice present state government relations for PCI. “We are pleased to see NCOIL President and Alabama state Rep. Greg Wren make international issues the hallmark of his presidency. State lawmakers have an important voice that needs to be heard on these issues.”

In late January, NCOIL announced the formation of a special task force, the International Issues Task Force, to work in conjunction with the NCOIL International Insurance Issues Committee. The mission of the task force is to promote understanding of the U.S. state-based insurance system in the international arena and guard the soundness of state-level consumer protection and insurer solvency laws against the potential overreach of international insurance regulatory efforts. The task force will be having its first in person meeting in Savannah.

“PCI appreciates and supports the emphasis NCOIL is placing on international regulatory developments,” said David Snyder, vice president, international policy, policy development and research for PCI. “We are at a critical juncture in international discussions and it is very important to have NCOIL work with the NAIC and other state organizations to protect the many good features of our system that support competition and protect consumers.”  

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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