American Property Casualty Insurance Association
  • Staff Contact: Eileen Gilligan     
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  • FOR RELEASE ON RECEIPT
  • December 6, 2016
  • PCI Applauds House Financial Services Subcommittee Principles for Flood Insurance Reauthorization and Reform
  • WASHINGTON — Nat Wienecke, senior vice president, federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement in response to House Financial Services Subcommittee Chairman Blaine Luetkemeyer’s draft “Principles for Flood Insurance Reauthorization and Reform.”

    “PCI commends the leadership of House Financial Services Subcommittee Chairman Blaine Luetkemeyer and strongly supports his pro-consumer ‘Principles for Flood Insurance Reauthorization and Reform’ released today,” said Wienecke. “These thoughtful principles are an encouraging sign that Congress understands the importance of providing market stability through reauthorizing the NFIP well before the September 30, 2017 deadline for reauthorization.

    “PCI strongly supports the committee’s commitment to consumer choice by facilitating more private sector participation in both the flood insurance marketplace and the NFIP. PCI appreciates and supports Subcommittee Chairman Luetkemeyer’s goal to increase transparency for consumers in the NFIP’s rate-setting process, as well as reforms to place the NFIP on more sound fiscal footing. PCI also thanks Chairman Hensarling and his long-standing support for increasing consumer choice and a more robust private sector flood insurance marketplace. PCI looks forward to working with the Chairman and members of the committee on developing the details of these principles,” concluded Wienecke.

  • 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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