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- PCI Commends Congress Action to Delay DOL Overtime Rule
WASHINGTON — Nat Wienecke, senior vice president, federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement commending the House for passing legislation entitled “The Regulatory Relief for Small Businesses, Schools, and Nonprofits Act,” (H.R. 6094). This legislation would delay the Department of Labor’s overtime rule’s effective date by six months, from December 1, 2016 to June 1, 2017.
“PCI commends the House for passing The Regulatory Relief for Small Businesses, Schools, and Nonprofits Act,” said Wienecke. “This important legislation would delay the Department of Labor’s rule on overtime regulations. Employers across the country are struggling to meet the deadline for complying with the Department of Labor’s changes to the overtime rules. A six month extension provides employers with additional time to determine out how best to comply with the new regulations.”
- 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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