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

September 23, 2014

PCI CEO Sampson Discusses Regulatory Issues Affecting the Insurance Industry

WASHINGTON - David A. Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI), today discussed regulatory issues and developments that are impacting the U.S. insurance and reinsurance industries at the 6th Annual Reactions North America Conference. The event, entitled “Adapting to a Changing Landscape” was held in New York.

Sampson participated in a panel discussion with Commissioner Ken Kobylowski, New Jersey Department of Banking and Insurance and George W. Madison, partner, Sidley Austin and former general counsel, Department of the Treasury. Michael P. Goldman, partner, Sidley Austin was the panel moderator.

“We at PCI welcome the opportunity to contribute to Reactions’ ongoing efforts to promote an informed discussion on issues impacting the insurance industry,” said Marguerite Tortorello, PCI’s senior vice president, public affairs.

“This is a critical time where imminent and emerging threats continue to impact the U.S. insurance industry domestically and abroad, and we are pleased to offer insight with other distinguished leaders in the insurance marketplace.”

Sampson discussed PCI’s role in working with the NAIC and state regulators on corporate governance reforms for the industry, concerns with the Financial Stability Oversight Council (FSOC) with designating several insurance companies as SIFIs, the Federal Insurance Office (FIO) Report recommendations on how to modernize and improve the system of insurance regulation in the U.S., and the importance of reauthorizing the Terrorism Risk Insurance Act, among other key issues.

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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