PCI News

P/C Insurers’ Profit Dipped in Q1

Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net gains or losses on underwriting, net investment income, and miscellaneous …

Uber, Lyft, Sidecar Toe-to-Toe With Insurers State-by-State

The highly thought-of share-and-share-alike attitude considered a virtue by some has become fighting words between ridesharing companies and the insurance industry. “We try not to make it a battle,” said Robert Passmore, senior director of personal lines for the Property …

Illinois Passes Rideshare Legislation with Insurance Component

The Illinois Legislature passed legislation this session that provides for regulating transportation networking companies (TNCs) and closing insurance gaps, according to the Property Casualty Insurers Association of America (PCI). Together HB 4075 and 5331 will establish regulations on TNCs that …

State Auto’s Restrepo Takes Over As PCI Chair

State Auto Insurance Companies President, Chairman and CEO Bob Restrepo has been elected chair of the board of governors of the 1,000-member Property Casualty Insurers Association of America (PCI). The one-year term began with Restrepo’s election during this week’s PCI …

Surplus Lines’ McKay Named to IICF Western Board of Directors

Surplus Line Association of California Executive Director Benjamin J. McKay was named to the Insurance Industry Charitable Foundation’s Western division board of directors. The IICF board is comprised of industry professionals with commitment to philanthropy. McKay joined SLA in 2012 …

PCI Names Norton Executive Communications Director

The Property Casualty Insurers Association of America (PCI) has named Steve Norton as its new director, executive communications. Prior to joining PCI, Norton was the communications director for the Information Technology Foundation, an economic and technology policy think tank. Previously, …

Florida Now Among States Allowing Electronic Proof of Insurance for Drivers

Florida recently joined a growing list of states that allow electronic proof of insurance via smartphones for motorists at traffic stops. Among Southeastern states, Mississippi, Alabama, Georgia, Tennessee and Kentucky now also allow electronic proof of insurance.Nationally, there are now …

PCI Slams Oregon Bad Faith Proposals

A handful of bills proposed in Oregon could hit consumers with nearly $200 million in cost increases and yield a rash of lawsuits, according to the Property Casualty Insurers Association of America, which is urging Oregon lawmakers to defeat several …

P/C Industry’s 9 Month Results Show Insurers Can Handle Sandy Losses: ISO, PCI

Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011. Insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus …

Insurer Group PCI Names Wienecke as Senior VP for Government Relations

The Property Casualty Insurers Association of America (PCI) has named Nathaniel F. Wienecke its senior vice president, federal government relations. Wienecke comes to PCI after three years at JPMorgan Chase & Co., where he has served as vice president for …