American Property Casualty Insurance Association
  • Staff Contact: Eileen Gilligan     
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  • May 22, 2018
  • PCI Applauds Passage of International Insurance Capital Standards Provisions in S. 2155
  • WASHINGTON — Nat Wienecke, senior vice president of federal government relations issued the following statement applauding the House passage of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection act. This bill includes bipartisan language on international insurance capital standards proposed by Senators Dean Heller (R-NV) and Jon Tester (D-MT). Those provisions will promote increased transparency in international insurance discussions and require U.S. negotiators to support consensus positions with state regulators in international negotiations on insurance standards.

    “PCI applauds the House for passing the Economic Growth, Regulatory Relief, and Consumer Protection Act.

    “We appreciate the inclusion of the important international insurance standards provisions. PCI and our members have advocated for these important provisions for over four years. This legislation will reinforce the primacy of the state regulation of insurance and require that U.S. federal representatives coordinate with state insurance regulators and speak with one voice in international forums. PCI commends Senators Heller and Tester for their leadership on this important legislation.

    “PCI looks forward to President Trump signing this important legislation.”

  • 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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