APCIA Holds Legislative Action Day

WASHINGTON, May 24 -- The American Property Casualty Insurance Association issued the following statement on May 23, 2024:

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Advocates for Policies to Increase Resiliency and Lower Consumers' Insurance Costs

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The American Property Casualty Insurance Association (APCIA) held its Legislative Action Day this week. APCIA members discussed the property casualty industry's advocacy priorities in 70 meetings with members of Senate Banking; Senate Environmental and Public Works; Senate Judiciary; House Financial Services; House Energy and Commerce; and House Transportation and Infrastructure committees, among others.

Nat Wienecke, APCIA's senior vice president of federal government relations released the following statement:

"APCIA and our members were pleased to join together this week to advance the property casualty insurance industry's priorities on Capitol Hill, including solutions to address insurance affordability and availability challenges facing families, individuals, and business owners.

"Legal system abuse is a significant factor impacting insurance affordability and availability in states and across the country. That is why we took this week as an opportunity to educate policymakers on the negative impacts of plaintiff lawyers' abusive practices. Unnecessary and abusive litigation impacts everyone through increased costs of goods and services, such as gas, groceries, and insurance.

"This event was also an important opportunity to promote initiatives that support mitigation and resiliency that will foster more sustainable and resilient communities and could translate to more affordable and available insurance coverage for consumers.

"Reauthorizing the National Flood Insurance Program is critical to these efforts. We encouraged support to ensure there is no lapse and advocate for a long-term reauthorization with reforms that would increase consumer choice by expanding the private market. These actions are vital to provide stability for the five million consumers that depend on the NFIP. Additionally, APCIA and our members advocated for proactive measures to prevent devastating wildfires to protect communities and the environment. We pushed for Congress to act on the comprehensive recommendations developed by the Wildland Fire Mitigation and Management Commission, which urge proactive risk-reduction measures like reducing hazardous fuels and hardening homes and infrastructure.

"Consumers are also confronting the impacts of increased parts and labor costs. This week, we advocated for solutions, including the REPAIR Act and the SMART Act, which could help to bring down repair costs by prioritizing access, safety, and choice for consumers. By modernizing existing laws and regulations, Congress will help consumers repair their vehicles in a safe and economical way."

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/80766/