PCI Issues Statement on House Passage of Tax Reform

WASHINGTON, Nov. 17 -- The Property Casualty Insurers Association of America issued the following statement by Nat Wienecke, senior vice president, federal government relations applauding the House for passing the Tax Cuts and Jobs Act (H.R. 1):

"PCI applauds the House for passing the Tax Cuts and Jobs Act.

"Reducing the corporate tax rate will help the property and casualty industry be more competitive and could create benefits for our markets, consumers, and the economy. We appreciate that the bill recognizes the property and casualty insurance industry's unique business and state regulatory model.

"We look forward to working with the members of the House and Senate as this legislation moves forward."

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PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write $220 billion in annual premium, 37 percent of the nation's property casualty insurance. Member companies write 44 percent of the U.S. automobile insurance market, 30 percent of the homeowners market, 35 percent of the commercial property and liability market and 37 percent of the private workers compensation market.

This document was posted showing the date: Nov. 16, 2017.