APCIA Commends FIO and NAIC Data Collection Partnership

CHICAGO, Illinois, March 9 -- The American Property Casualty Insurance Association issued the following statement on March 8, 2024:

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The Department of Treasury's Federal Insurance Office (FIO) and the National Association of Insurance Commissioners (NAIC) today announced the organizations will coordinate data collection on climate-related risk. The American Property Casualty Insurance Association (APCIA) issued the following statement attributed to Nat Wienecke, APCIA's senior vice president of federal government relations and Adam Shores, APCIA's senior vice president of state government relations.

"APCIA is pleased the NAIC and FIO have agreed to coordinate data collection efforts. Duplicate data calls are unnecessary and ultimately increase consumer costs. Insurers already provide essential data with state regulators. APCIA and our members are encouraged by this partnership. We are still reviewing the details and may seek additional clarification."

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The American Property Casualty Insurance Association (APCIA) is the primary national trade association for home, auto, and business insurers. APCIA promotes and protects the viability of private competition for the benefit of consumers and insurers, with a legacy dating back 150 years. APCIA members represent all sizes, structures, and regions--protecting families, communities, and businesses in the U.S. and across the globe.

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Original text here: https://www.apci.org/media/news-releases/release/79258/