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- PCI Encourages House Support for Bipartisan FIO Reform Act
WASHINGTON — Nat Wienecke, senior vice president of federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement encouraging the members of the House Financial Services Committee to support H.R. 3861, the Federal Insurance Office (FIO) Reform Act of 2017. The bill is scheduled to be marked-up this week.
“PCI strongly supports the Federal Insurance Office Reform Act of 2017,” said Wienecke. “This bipartisan legislation will limit FIO’s ability to intrude on state insurance regulation and refocus FIO on international matters, where it would be required to play an appropriate role in coordinating with the states to develop consensus positions on U.S. international insurance policy.
“PCI commends the leadership of Representatives Sean Duffy and Denny Heck and encourages members of the House Financial Services Committee to support H.R. 3861 in the upcoming mark-up,” 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 $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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