Property Casualty Insurers Association (PCI) News

P/C Insurer Trade Groups AIA and PCI Agree on Merger, New Name Starting Jan. 1

Members of the Property Casualty Insurers Association of America and the American Insurance Association have approved a merger that takes effect Jan. 1, 2019. The combined organization is set to have a new name, the American Property Casualty Insurance Association, …

Regulators, Industry Seek to Keep Florida AOB Abuse In Check After Michael

In an effort to keep the Florida assignment of benefits (AOB) crisis from further worsening in the state, Florida’s insurance industry, regulators and consumer advocates are on high alert for AOB activity in the wake of Hurricane Michael and working …

Florida Orders Insurers to Halt Rate Hikes; Sets Up Hurricane Michael Claims Village

Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders – including freezing any rate hikes for 90 days – to support recovery efforts in areas impacted by Hurricane Michael. The order by Florida Insurance …

Two P/C Insurance Trade Groups — AIA and PCI — Plan to Merge

Two leading U.S. property/casualty insurance carrier trade groups are talking about merging. The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) said their respective boards have approved moving ahead with merger talks and due diligence, …

South Carolina Passes First Insurance Industry Cybersecurity Law

South Carolina has become the first state to pass a cybersecurity bill requiring any insurance entity operating in the state to establish and implement a cybersecurity program protecting their business and their customers from a data breach. And while the …

Georgia Bans Use of Handheld Devices While Driving

Georgia has become the latest state to ban the use of handheld devices while behind the wheel. Gov. Nathan Deal signed H.B. 673 into law on May 2, making Georgia the 16th state to ban using a cellphone, including texting, …

Indiana Workers’ Comp Formulary Bill Passes; Governor Urged to Sign

The Indiana General Assembly has passed legislation that adopts a drug formulary for the state’s workers’ compensation system. The Property Casualty Insurers Association of America (PCI) is urging Indiana Gov. Eric Holcomb to sign the bill, SB 369. “Evidence-based pharmaceutical …

Update: Insurance Industry Preparation for Hurricane Irma in Full Swing in Florida

Insurers are taking no chances in preparing for Hurricane Irma as the powerful category 5 storm slogs its way through the Caribbean, devastating the communities left in its wake on its potential path towards the U.S. Insurers made a full …

Insurer Group PCI Adds 4 to Federal Relations, Tax Policy Teams

The Property Casualty Insurers Association of America (PCI) announced the addition of four new hires in the areas of federal government relations and taxation. Mona Dooley and Kyle Glenn are joining the association as assistant vice presidents, federal government relations …

NAIC Drafts Changes for NFIP, Encourages Long-Term Reauthorization

The National Association of Insurance Commissioners (NAIC) has released its recommendations for changes to the National Flood Insurance Program (NFIP) when it goes up before Congress for reauthorization next year. The current NFIP is due to expire on Sept. 30, …