American Property Casualty Insurance Association
  • Staff Contact: Brooke Kelley     
    • Printer-Friendly Printer-Friendly PDF Export PDF Export

 

 

Contact:

Brooke Kelley-Hunt

Phone:

847-553-3671 or 847-894-3881

Email:

Brooke.kelley-hunt@pciaa.net

 

 

FOR RELEASE ON RECEIPT

April 29th, 2014

PCI’s Sampson to Speak at Oklahoma Insurance Department’s Domestic Conference

CHICAGO - David A. Sampson, president and CEO of the Property Casualty Insurers Association of   America (PCI), will offer industry perspective on a wide range of issues Tuesday, April 29 at the Oklahoma Insurance Department’s Domestic Conference in Oklahoma City.

Sampson will focus on major regulatory, legislative, and legal trends that have arisen in the past year, as well as offer insight regarding the future of the marketplace. Sampson will also address industry priorities such as re-authorization of the Terrorism Risk Insurance Act, and his thoughts on the Federal Insurance Office’s report on how to modernize and improve the system of insurance regulation in the United States.

 “We congratulate Oklahoma Insurance Commissioner John Doak on hosting the annual Domestic Conference which is an excellent opportunity for insurance industry leaders, lawmakers and regulators to gain insights on industry emerging issues,” said Marguerite Tortorello, PCI’s senior vice president, public affairs. “Insurers are faced with new challenges in the shifting natural catastrophe marketplace as they are subjected to competing pressures from state regulators, rating agencies, and catastrophe modelers. The direction given by Sampson in his talk today will provide a broad perspective on national and international issues while keeping our industry focused on the mission at hand. For instance, right now insurers are on the ground in Oklahoma, Nebraska, Kansas, and North Carolina helping families in need in the wake of these catastrophic storms.”

As part of his remarks addressing how the insurance marketplace remains strong in the aftermath of major storms, Sampson will highlight PCI’s “Caught in the Middle” initiative.

 “PCI is working with policymakers across the country to bring more certainty to response activities and helping consumers be more weather-ready which can save lives,” said Tortorello. “Additionally the Caught in the Middle initiative promotes campaigns that improve financial literacy and preparedness.”

 Key Issues Sampson Plans to Address:

• Global Regulatory Convergence and the Federal Insurance Report

• Working with states to reinforce product certainty in the aftermath of major storms

• Timely reauthorization of the Terrorism Risk Insurance Act

• Ride-Sharing services and the importance of addressing insurance gaps

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.

###