PCI News

Insurers Warn Against Encroachment on State Regulation

Insurance companies are calling for Congress to ensure state-based insurance regulation remains protected from federal or international “regulatory encroachment.” “Congress must now increase its oversight regarding the unprecedented federal and international intrusion into state insurance regulation,” Kurt Bock, CEO of …

Insurer Group: Most Midwesterners not Prepared for Natural Disasters

With more severe thunderstorms and possibly tornadoes in the forecast for portions of the central U.S. today, the Property Casualty Insurers Association of America (PCI) says a recent survey conducted by Harris Poll on behalf of PCI shows that residents in …

Florida Bill Allowing Electronic Insurance Documents Sent to Governor

Florida may soon be the 28th state to adopt legislation that enables insurers to conduct all policyholder transactions over the internet. The State Legislature has passed House Bill 273, which allows policyholders to receive their insurance documents via email as …

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 share-and-share-alike attitude considered a virtue by some has the potential to  create a rift between between ridesharing companies and insurance companies. “We try not to make it a battle,” said Robert Passmore, senior director of personal lines for the …

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 …