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- PCI Applauds House Passage of H.R. 2901, Flood Insurance Market Parity and Modernization Act
WASHINGTON — Nat Wienecke, the Property Casualty Insurers Association of America’s (PCI) senior vice president, federal government relations, issued the following statement today applauding the House passage of H.R. 2901, the Flood Insurance Market Parity and Modernization Act.
“PCI applauds Representatives Dennis Ross and Patrick Murphy and appreciates the leadership of Chairman Jeb Hensarling and Ranking Member Maxine Waters in moving the Flood Insurance Market Parity and Modernization Act forward,” said Wienecke.
The Flood Insurance Market Parity and Modernization Act clarifies the intent of Congress that private flood insurance should be an option available to consumers.
“This is the right time to pass this legislation. Families and businesses depend on flood insurance to protect their homes, and H.R. 2901 may expand consumers’ flood insurance options. PCI applauds the House for passing H.R. 2901 and urges the Senate to take up and pass this important bipartisan 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 more than $195 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, 28 percent of the homeowners market, 33 percent of the commercial property and liability market and 35 percent of the private workers compensation market.
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