American Property Casualty Insurance Association
  • Staff Contact: Nicole Mahrt-Ganley     
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  • FOR RELEASE ON RECEIPT
  • July 27, 2015
  • CFA Marital Status Study Ignores Important Facts
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    Contact:

    Nicole Mahrt Ganley

    Phone:

    916-479-2670 or cell 916-616-5855

    Email:

    Nicole.mahrt@pciaa.net

     

     

    FOR RELEASE ON RECEIPT

    July 27, 2015

    CFA Marital Status Study Ignores Important Facts

    CHICAGO, IL – The following statement by the Property Casualty Insurers Association of America (PCI) is in response to the recent study by the Consumer Federation of America (CFA) on the use of marital status as a discount in auto insurance rating. The following statement can be attributed to David Snyder, PCI’s vice president of policy development and research.

     

    “Contrary to the impression that may have been created by CFA, insurance ratings is subject to rigorous actuarial standards and state regulation which ensure that all rating factors accurately reflect the risk of loss. If there are cases where any factor creates an unusual unintended consequence, consumers can reach out to their companies and insurance regulators and bring that to their attention.

     

    Its important consumers realize that, when used in underwriting auto insurance, marital status usually functions as a discount.

     

    Automobile insurance is an extremely competitive business, with dozens of carriers operating in every state. All you need to do is turn on your TV and most likely you will see an insurance commercial.  This lets consumers know the market is stable and competitive.”

     

    PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write more than $183 billion in annual premium, 35 percent of the nation's property casualty insurance. Member companies write 42 percent of the U.S. automobile insurance market, 27 percent of the homeowners market, 32 percent of the commercial property and liability market and 34 percent of the private workers compensation market.

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  • PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write more than $195 billion in annual premium, 35 percent of the nation's property casualty insurance. Member companies write 42 percent of the U.S. automobile insurance market, 28 percent of the homeowners market, 33 percent of the commercial property and liability market and 35 percent of the private workers compensation market.
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