APCIA pushes for reforms in action day

APCIA pushes for reforms in action day | Insurance Business America

Insurance News

APCIA pushes for reforms in action day

Association highlights the challenges pressuring individuals and businesses

Insurance News

By
Jonalyn Cueto

The American Property Casualty Insurance Association (APCIA) convened for its Legislative Action Day this week, making a significant push for policy change.

Among the focal points of discussion was the pervasive issue of legal system abuse, which significantly impacts insurance accessibility and affordability nationwide. Neil Wienecke, APCIA’s senior vice president of federal government relations, underscored the detrimental effects of plaintiff lawyers’ abusive practices, stressing how unnecessary litigation drives up costs for consumers across various sectors, from essentials like gas and groceries to insurance premiums.

In addition, the event served as a platform to champion initiatives aimed at bolstering mitigation and resilience efforts, essential for fostering sustainable communities and potentially leading to more accessible and affordable insurance coverage for consumers. Central to these efforts is the reauthorization of the National Flood Insurance Program (NFIP), with APCIA advocating for reforms to expand consumer choice through private market expansion, ensuring stability for the millions reliant on NFIP coverage.

Additionally, APCIA advocated for proactive measures to mitigate the risk of devastating wildfires, endorsing comprehensive recommendations by the Wildland Fire Mitigation and Management Commission. These recommendations emphasize pre-emptive actions such as fuel reduction and infrastructure reinforcement to safeguard communities and the environment.

Addressing consumers’ concerns over escalating parts and labor costs, APCIA also advocated for legislative solutions such as the REPAIR Act and the SMART Act. These measures aim to mitigate repair expenses by prioritizing consumer access, safety, and choice, thereby enabling economical and secure vehicle repairs.

“By modernizing existing laws and regulations, Congress will help consumers repair their vehicles in a safe and economical way,” noted Wienecke.

APCIA members engaged 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 significance of the gathering, stating, “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.”

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