Property Casualty Insurers Association of America News

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 …

P/C Insurers’ Surplus Rose, Profitability Fell in 2014’s First 9 Months

The first nine months of 2014 saw policyholders’ surplus for the U.S. property/casualty insurance industry reach record levels. At the same time, net income after taxes declined substantially and overall profitability took a noticeable dip. As well the annualized rate …

PCI Names Segura Regional Manager for Midwest States

The Property Casualty Insurers Association of America has named Hilary Segura to its state government relations team. Segura will take over regional staff duties overseeing states in the Midwest and the Southeast. Previously, Segura worked for Illinois Gov. Patrick Quinn’s …

PCI Elects Erie’s Cavanaugh As Chair

The Property Casualty Insurers Association of America (PCI) elected new officers to its board of governors during its annual meeting this week in Scottsdale. Terrence W. Cavanaugh, president and CEO of Erie Insurance Group, was elected as PCI’s chair; Jim …

Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’

A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the report as a negative take on the industry’s ability to adapt and not reflective of …

Montana and Arizona Lone States Without Texting Laws, but Does it Matter?

Arizona and Montana stand out as the only states without some form of texting and driving law, but some studies show there’s no evidence that laws intended to curb cellphone use behind the wheel reduce crashes. Fourty-four other states plus Washington, …

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 …

U.S. Report: Climate Change Here, Deal With It

Climate change is in the here and now, according to a massive report issued on Tuesday. The White House’s National Climate Assessment report is part of President Barack Obama’s effort to prepare the nation for the impacts of a changing …

Insurer Groups Applaud Arizona’s Brewer For Ridesharing Veto

Arizona Gov. Jan Brewer’s veto of House Bill 2262, which would have exempted ridesharing companies from commercial insurance requirements imposed on traditional taxi and livery companies, has insurance groups singing her praise. “Gov. Brewer made the right decision today and …