Agent Group Supports Resolution Opposing Optional Federal Charter

The Professional INsurance Agents Association of Ohio (PIA) recently testified before the Ohio House Insurance Committee in support of a resolution for Ohio to formally oppose any “new layers of needless federal bureaucracy to insurance regulation.”

Representing the Professional Insurance Agents Association of Ohio (PIA), John Koetz testified that state insurance regulation best serves consumers and the industry with policy and regulatory decisions made at the state level.

“Ohio enjoys a healthy insurance market that provides insurance consumers with the 13th lowest average auto insurance rates and the 6th lowest homeowners insurance rates in the nation,” said Koetz, past president of the PIA and president of the W.E. Davis Insurance Agency. “It’s important for us to send a strong message to Congress that Optional Federal Charter legislation is the wrong move for the industry and the wrong move for consumers.”

Koetz testified that the Optional Federal Charter would cause problems for consumers.

“A dual system would confuse consumers, create insurance coverage gaps and have disastrous implications for Ohio’s insurance industry solvency,” said Koetz.

Koetz is a past-president and long-time member of PIA. His agency, W.E. Davis Insurance Agency, has been based in Columbus for 70 years.

Founded in 1933, Professional Insurance Agents Association of Ohio, Inc. represents approximately 1,300 independent insurance agencies, their employees and their customers.

Source: Professional Insurance Agents Association of Ohio

Latest Comments

• April 16, 2008 at 1:49 am

  Anonymous says:

  I'm glad to see that PIA has presented their opinion on this issue. I totaly agree. Each State's insurance needs are so diverse that a federal regulated insurance would neve... read more
• April 16, 2008 at 1:03 am

  Pleased says:

  I totally agree. The last thing we need is additional federal law on insurance. I shudder to think of it.