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.”