The Personal Insurance Federation of California (PIFC) announced that the National Association of Mutual Insurance Companies (NAMIC) has been unanimously approved by the PIFC Board of Directors to become the newest associate member of the Federation, California’s leading personal lines insurance trade association. PIFC represents insurers that write 46 percent of automobile and homeowners insurance in California, and 53 percent of earthquake insurance written in the California Earthquake Authority.
NAMIC, headquartered in Indianapolis, IN, is a full service international trade association with more than 1,350 member companies underwriting 41 percent ($170 billion) of the property and casualty insurance premium in the United States. NAMIC membership includes four of the seven largest property/casualty carriers, every size regional and national property/casualty insurer, and hundreds of farm mutual insurance companies.
“The Federation is very pleased to welcome NAMIC into the PIFC family,” said Dan C. Dunmoyer, PIFC president. “In an environment of ever increasing regulation of our industry, it is vital that we establish collaborative efforts to protect free and open insurance markets, which is precisely why we have entered into a strategic partnership with NAMIC. Our organizations have very similar philosophies and our mutual interests make this partnership a natural fit.”
“With their strong national profile and industry-leading public policy resources, NAMIC will clearly allow PIFC to better serve its members and their policyholders in California,” Dunmoyer continued.
“The NAMIC core objective is to positively shape the public policy environment in which our member companies do business throughout the country. To that end, a high priority of this association is to ensure that California maintains a healthy and competitive insurance marketplace. Collaboration and coordination of advocacy with PIFC is our primary strategy for accomplishing this objective,” said NAMIC president Charles M. Chamness.
“Like PIFC, NAMIC believes open and competitive markets are the best means for providing affordable, high-quality insurance products to consumers. NAMIC and our member companies are very excited about this mutually beneficial partnership,” Chamness added.
“Our respective members have benefited from previous work the two associations have engaged in together. Creating an ongoing, formal and focused relationship will take our associations to the next level in terms of service to our member companies,” said Dunmoyer.
“Together, PIFC and NAMIC will bring a formidable voice to the legislative and regulatory arena in California. Our goal will be to oppose legislation and regulatory actions that threaten the insurance marketplace and help California continue to recover from its current economic challenges,” Chamness concluded.
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