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- PCI Applauds House Financial Services Committee Action on PPA
WASHINGTON – Nat Wienecke, senior vice president, federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement following the House Financial Services Committee markup of H.R. 1478, the Policyholder Protection Act of 2015. The committee voted 57 to 0 in support of the legislation.
“PCI applauds Chairman Jeb Hensarling, Ranking Member Maxine Waters and the House Financial Services Committee for its bipartisan support and moving H.R. 1478, the Policyholder Protection Act of 2015 forward. This common sense legislation clarifies Congressional intent with regard to several provision of the Dodd-Frank Act to protect insurer solvency and, most importantly, insurance policyholders. PCI commends Representatives Bill Posey and Brad Sherman for their leadership and calls on the full House to take up and pass of this legislation.”
- 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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