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

April 3, 2014

PCI Hosts TRIA Briefing

 

WASHINGTON – The Property Casualty Insurers Association of America (PCI) today hosted a policy briefing on the importance of reauthorizing the Terrorism Risk Insurance Act. The briefing, entitled “Enduring Protection and Vigilance: Reauthorizing the Terrorism Risk Insurance Act” is part of PCI’s Capital Engagement Series. The event was held on Capitol Hill.

Nat Wienecke, PCI’s senior vice president, federal government relations gave opening remarks. Robert Gordon, PCI’s senior vice president, policy development and research moderated the panel that included Justin Lumadue, U.S. Chamber of Commerce director, congressional and public affairs, Courtney Temple, U.S. Travel Association, director, government relations, Joseph Yohe, Georgetown University, associate vice president for risk management, and Marcus Jadotte, NASCAR vice president public affairs and multicultural development. The panelists discussed the importance of TRIA in their business.

“PCI is pleased to welcome our esteemed panelists to talk about the importance to consumers and our nation’s economy of extending the current TRIA protection. TRIA is a rare example of a government program that has worked continuously for over a decade to help jobs, growth, and the economic security, all at essentially no estimated cost to the taxpayers. The TRIA extensions have always been primarily about supporting policyholders and our nation’s businesses and we are pleased to have with us today several leaders of our business community,” said Gordon. “We would like to thank the panelists for their thoughtful insights on the importance of extending the current TRIA program to businesses, consumers, and our economy.”

In addition, PCI’s recent research confirms that business executives are worried about the possibility of a terrorist attack happening in the U.S. in the next few years and they are concerned the attack could have a negative impact on the economy and significantly impact their business operations.

“PCI, our members, and a broad coalition, including the panelists that join us today, will continue to work with Congress on reauthorizing TRIA in the form that works for the policyholders, our members, and the American economy,” concluded Wienecke.

The PCI’s Capital Engagement Series is a series of briefings and policy discussions bringing together insurance industry thought leaders to discuss the importance of property casualty insurance and the current issues impacting the industry. Additional PCI Capital Engagement Series policy briefings will be scheduled throughout the 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.

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