American Property Casualty Insurance Association
  • Staff Contact: Brooke Kelley     
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Contact:

Brooke Kelley-Hunt

Phone:

847-553-3671 or 847-894-3881

Email:

Brooke.kelley-hunt@pciaa.net

 

 

FOR RELEASE ON RECEIPT

July 22, 2014

PCI issues Statement in Regards to OIR Orders to Terminate Certain Cat Fund Emergency Assessments

TALLAHASSEE, Fla.- Donovan Brown, state government relations counsel for the Property Casualty Insurers Association of America (PCI), issues the following statement in response to the Florida Office of Insurance Regulation (OIR) issuing orders to terminate a 1.3 percent assessment fee on insurance policies effective January 1, 2015 in order to pay off past hurricane claims.

“PCI and its members applaud Governor Rick Scott and the Florida Cabinet for their years of leadership and dedication to terminate emergency assessments on Florida’s consumers. Under their direction, the property insurance market has continued to rebound from the failed policies of former Governor Charlie Crist. Today’s announcement is proof that the Florida property market is moving in the right direction, and will continue to benefit consumers and other stakeholders. Barring a major catastrophe, PCI and its members are cautiously optimistic that the Florida property market is making great strides.”

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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