APCIA pushes for reforms on Day of Action | Insurance business America
The association highlights the challenges faced by individuals and companies
Insurance News
By Jonalyn Cueto
The American Property Casualty Insurance Association (APCIA) met for its Legislative Action Day this week and pushed hard for policy change.
The focus of the discussion included the pervasive problem of legal system abuse, which has a significant impact on the accessibility and affordability of insurance across the country. Neil Wienecke, senior vice president of federal government relations at APCIA, underscored the damaging effects of plaintiffs’ attorneys’ abusive practices, emphasizing how unnecessary litigation drives up costs for consumers in various sectors, from essentials like gasoline and groceries Insurance premiums.
Additionally, the event served as a platform to promote initiatives to strengthen climate action and resilience efforts, which are critical to promoting sustainable communities and potentially leading to more accessible and affordable insurance coverage for consumers. Central to this effort is the reauthorization of the National Flood Insurance Program (NFIP). APCIA advocates for reforms to expand consumer choice by expanding the private market and ensuring stability for the millions who rely on NFIP coverage.
Additionally, APCIA advocated for proactive measures to reduce the risk of devastating wildfires and supported comprehensive recommendations from the Wildland Fire Mitigation and Management Commission. These recommendations focus on preventive measures such as reducing fuel consumption and expanding infrastructure to protect communities and the environment.
APCIA addressed consumer concerns about rising parts and labor costs and also advocated for legislative solutions such as the REPAIR Act and the SMART Act. These measures aim to reduce repair costs by prioritizing consumer access, safety and choice, thereby enabling economical and safe vehicle repairs.
“By modernizing existing laws and regulations, Congress will help consumers repair their vehicles safely and economically,” Wienecke noted.
APCIA members participated in over 70 meetings with key lawmakers from various congressional committees, including Senate Banking, Senate Environmental and Public Works, Senate Judiciary, House Financial Services, House Energy and Commerce, and House Transportation and Infrastructure.
Wienecke emphasized the importance of the meeting, stating, “APCIA and our members were pleased to work together this week to advance the property and casualty insurance industry’s priorities on Capitol Hill, including solutions to address challenges in insurance affordability and availability that families, individuals and businesses face.” Owners.”
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2024-05-24 15:27:54
www.insurancebusinessmag.com
