American Property Casualty Insurance Association
  • Staff Contact: Eileen Gilligan     
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  • July 17, 2018
  • PCI Applauds House Passage of the JOBS and Investor Confidence Act
  • WASHINGTON — Nat Wienecke, senior vice president of federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement applauding the passage of the House Amendment to S. 488, the JOBS and Investor Confidence Act of 2018. The legislation included H.R. 4537, the International Insurance Standards Act.

    “PCI applauds the House for passing the JOBS and Investor Confidence Act, in particular the International Insurance Standards Act.

    “Chairman Hensarling and Ranking Member Waters have been leaders on this strong bipartisan package of bills and we appreciate the inclusion of the International Insurance Standards Act. The legislation reinforces the primacy of the state regulation of insurance. It also recognizes the appropriate role of state insurance regulators in developing international insurance standards and provides that Congress receives appropriate notice to exercise its oversight over such negotiations. PCI commends Representatives Duffy and Heck for their steadfast bipartisan efforts.

    “PCI urges the Senate to pass 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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