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Cliston Brown
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Phone:
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202-639-0497
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cliston.brown@pciaa.net
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PCI Supports Building Codes Legislation
Bill scheduled for markup in House
Financial Services Committee on Tuesday
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WASHINGTON—The Property Casualty Insurers Association of
America (PCI) supports H.R. 4461, the Community Building Code Administration
Grant Act, which is scheduled for a markup in the House Financial Services
Committee on Tuesday, June 24th. PCI urges House leadership to move
this important bill to a floor vote expeditiously following committee
consideration.
This summer, many American communities are enduring the economic
losses and personal hardships resulting from floods, tornadoes and wildfires. Other
communities face potential threats from these natural hazards and others, such
as hurricanes.
“Enforcing effective building codes is one of the most
effective ways to mitigate potential natural catastrophes,” said David A.
Sampson, PCI’s president and CEO. “We know how to construct buildings to minimize
the losses that individuals and communities face from natural disasters, and we
know that mitigation techniques are cost- effective. A study conducted by the
National Institute of Building Sciences in 2005 found that every dollar spent
on mitigation at the federal level saves American taxpayers four dollars in
disaster assistance. In short, an ounce of prevention is worth a pound of cure,
and this preventive legislation is a wise investment that will save taxpayers
money in the future.”
The legislation, introduced by Rep. Dennis Moore
(D-Kan.), would authorize a total of $100 million per year for five years to
help state and local governments more effectively administer building codes.
While PCI believes that the costs of setting up, administering, and enforcing
an effective building code program should be the responsibility of the
communities and the states, PCI also knows that enforcement is one of the
primary impediments keeping communities from enacting these programs. Effective
building codes lower the risk of loss and protect not only the safety, health
and welfare of individuals, but also sustain the economic viability of
communities. Every loss that is minimized also lowers the costs of replacing,
restoring and rebuilding communities damaged by disasters.
“In addition to saving taxpayer dollars, improved mitigation
efforts will help control premiums for insurance consumers,” Sampson said.
“This bill is beneficial on many levels, and we urge the Financial Services Committee
to move this bill forward on Tuesday for speedy consideration by the full
House.”
PCI is composed of
more than 1,000 member companies, representing the broadest cross-section of
insurers of any national trade association. PCI members write over $194 billion
in annual premium, 40.1 percent of the nation’s property/casualty insurance.
Member companies write 51.3 percent of the U.S. automobile insurance
market, 39 percent of the homeowners market, 32.1 percent of the commercial
property and liability market, and 38.7 percent of the private workers
compensation market.
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