APCIA announces priority advocacies for 2024
APCIA announces priority advocacies for 2024 | Insurance Business America
Insurance News
APCIA announces priority advocacies for 2024
It will be focusing on nine high-priority areas
Insurance News
By
Jonalyn Cueto
The American Property Casualty Insurance Association (APCIA), the national trade association for home, auto, and business insurers, has revealed the advocacies it will prioritize for the new year, noting the association will focus on nine particular areas throughout 2024.
“This year, APCIA will focus on proactively engaging in nine high-priority areas, in addition to tackling the day-to-day challenges facing the property-casualty insurance industry. Foremost among those priority areas is working to curb rampant legal system abuse, in coordination with the broader business community,” said Stef Zielezienski, executive vice president and chief legal officer at APCIA. “The abuses of our judicial system by the plaintiffs’ bar and their allies are wide-ranging, impacting insurance affordability and availability in many states, as well as the ability of businesses to remain viable.”
The priority areas include the following:
working to curb rampant legal system abuse
supporting risk-based pricing and related rating and underwriting tools
addressing innovation, regulatory modernization, insurance industry talent and economic empowerment
catastrophe insurance challenges (including adoption of relevant recommendations from the federal Wildland Fire Mitigation & Management Commission Report)
ensuring the sustainability and soundness of the state-based workers’ compensation system
protecting insurance contract certainty against legislative, regulatory, or judicial overreach
addressing automobile insurance cost drivers
preserving a sound taxation structure for property-casualty insurance
advancing international trade, market access, and regulatory modernization
Zielezienski says the association will also work on addressing concerns over mandates that prohibit insurers from carrying out business as well as false narratives in the industry and identifying government intrusion risks.
“APCIA will also address important issues that cut across multiple priority areas, including opposing arbitrary and prescriptive ESG-related mandates that inhibit insurers from carrying out the business of insurance, addressing false narratives perpetrated about the industry, and identifying government intrusion risk that threatens the insurance affordability and availability to consumers,” he said.
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