American Property Casualty Insurance Association
  • Staff Contact: Jeffrey Brewer     
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  • FOR RELEASE ON RECEIPT
  • January 23, 2018
  • PCI Responds to Commissioner Jones’ Statement on Federal Tax Reform and Insurers
  • SACRAMENTO, Calif. — The following statement regarding California Insurance Commissioner Dave Jones’ call for rate reviews following the federal tax legislation passed by Congress can be attributed to Mark Sektnan, vice president of state government relations for the Property Casualty Insurers Association of America (PCI).

    “This is a short-sighted way to look at the issue.

    “The home, auto, and business insurance marketplace is extremely competitive, and this is the best guarantee of service, product innovation and prices.

    “The impact of tax reform will vary greatly from company to company.

    “Premium reductions could be one of the many options.

    “Companies may choose to innovate, expand operations and create new jobs, or provide more employee benefits and incentives.

    “In California, companies’ immediate concern moving into 2018 is helping families and businesses rebuild after the tragic wildfire season.

    “This announcement is another example of regulators overstepping their boundaries.”

  • 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 $220 billion in annual premium, 37 percent of the nation's property casualty insurance. Member companies write 44 percent of the U.S. automobile insurance market, 30 percent of the homeowners market, 35 percent of the commercial property and liability market and 37 percent of the private workers compensation market.
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