American Property Casualty Insurance Association
  • Staff Contact: Eileen Gilligan     
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  • FOR RELEASE ON RECEIPT
  • September 13, 2016
  • PCI Applauds Senate Banking Committee Hearing Addressing NFIP Mapping Recommendations
  • WASHINGTON — Nat Wienecke, senior vice president, federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement in support of the Senate Banking Committee’s hearing entitled, “The National Flood Insurance Program (NFIP): Reviewing the Recommendations of the Technical Mapping Advisory Council’s 2015 Annual Report.”

    "PCI applauds Chairman Shelby and Ranking Member Brown and the members of the Senate Banking Committee for holding this important hearing to address mapping recommendations surrounding the NFIP,” said Wienecke. “The Senate Banking Committee's early, thoughtful examination of issues surrounding NFIP reauthorization is an encouraging sign that Congress understands the importance of reauthorizing the NFIP well before the September 30, 2017 deadline for reauthorization. PCI is pleased to be part of a now year-long effort, along with other industry stakeholders, to identify key principles essential to any thoughtful reform and reauthorization of the NFIP. PCI and its member companies stand fully ready to help Congress in its endeavor to protect the 5.1 million families and businesses that depend on the NFIP and expand flood insurance options for consumers in the private market."

    PCI and banking and insurance industry stakeholders submitted a letter for the record outlining the Joint Trades’ Principles for Flood Insurance Reauthorization. The letter is attached.

  • 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 $202 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, 33 percent of the commercial property and liability market and 34 percent of the private workers compensation market.
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