Property Casualty Insurers Association of America Property Casualty Insurers Association of America
  • Staff Contact: Eileen Gilligan     
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  • FOR RELEASE ON RECEIPT
  • March 8, 2017
  • PCI Applauds Congress for Introducing Legislation to Expand Consumers’ Flood Insurance Options
  • WASHINGTON — Nat Wienecke, senior vice president, federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement today applauding Senators Dean Heller (R-NV) and Jon Tester (D-MT) and Representatives Dennis Ross (R-FL) and Kathy Castor (D-FL) for introducing the Flood Insurance Market Parity and Modernization Act.

    “PCI supports the viability of a competitive private insurance market for the benefit of consumers and insurers, and believes that good insurance supervision recognizes the wide variety of property-casualty business models that can increase private competition,” said Wienecke. “This commonsense legislation clarifies the intent of Congress that private flood insurance should be an option available to homeowners.”

    This legislation passed the Financial Services Committee and the full House unanimously during the 114th Congress.

    “PCI applauds Senators Heller and Tester and Representatives Ross and Castor for introducing the Flood Insurance Market Parity and Modernization Act,” continued Wienecke. “PCI and our members remain dedicated to working with House and Senate leadership to strengthen flood protection for the more than five million Americans who depend on flood insurance to protect their homes and businesses.

    “Families and businesses depend on flood insurance to protect their homes, and this legislation will expand consumers’ flood insurance options. PCI urges the House and Senate to take up and pass this legislation,” 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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