A.M. BestTV: Heads of Industry Associations Set 2017 Washington Agenda: Taxes, Flood, Drones

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)-- In this ^A.M.BestTV episode, a panel of industry association leaders from the property/casualty, reinsurance and mutual insurance sectors believe fundamental changes in taxation and the federal flood program could benefit insurers. Drone regulations will be up for renewal as well. Click on http://www.ambest.com/v.asp?v=pcjf3117 to view the entire program.

Leigh Ann Pusey, president and chief executive officer, American Insurance Association, spoke about how the Trump Administration might impact the insurance industry. “We are encouraged in the broader regulatory realm, the tax realm, and obviously, health care is going to change,” said Pusey. “For our industry uniquely, there are going to be some real opportunities to enhance the dialogue about how private sectors can work with government in addressing some of our biggest societal challenges.”

Frank Nutter, president, Reinsurance Association of America, discussed the future of tax reform. “Clearly Congress is going to engage in a tax reform discussion. The industry has a very collegial relationship, and would like to see that the current structure of the tax code remains in place and that it is not subjected to any unfair or burdensome tax.”

Charles Chamness, president and chief executive officer, National Association of Mutual Insurance Companies, said he had some concerns surrounding the Federal Aviation Administration’s (FAA) drone regulations. “We have a major growing stake around not only using drones as an industry but also insuring them. The industry has been working collaboratively to make sure the FAA gets it right,” said Chamness.

Recent episodes of ^A.M.BestTV include:

Heads of U.S. Industry Associations Face Off on Covered Agreement Deal: A panel of industry associations leaders discuss an announced covered agreement that would allow U.S. companies to operate in European markets, and say that questions remain over equivalence and whether the deal comports with U.S. regulatory systems: http://www.ambest.com/v.asp?v=pcjf2117.

Commercial Automobile Insurance Sector Still Hindering Overall U.S. Property/Casualty Profitability: A.M. Best Senior Industry Analyst, Industry Research & Analytics David Blades examines why premium increases in the commercial automobile segment are not enough to offset the negative effects from underwriting losses: http://www.ambest.com/v.asp?v=commercialauto117.
Growth Rate of Alternative Capital Slows in Global Reinsurance Market: A.M. Best Director Greg Reisner examines the reasons why the global re sector remains overcapitalized and mired in soft market conditions: http://www.ambest.com/v.asp?v=globalre117.
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^A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View ^A.M.BestTV episodes at http://www.ambest.tv.