PAMIC PAC - Invest in Your Future

February 16, 2021 9:27 AM | Deleted user

PAMIC’s Insurer members make investments in people, technology, marketing, education and product development allowing you to compete in the insurance marketplace.  Yet a balanced regulatory system – that is fair to consumers and insurers alike – is critical to our success. 

We ask you, as an employee, director, or officer of a PAMIC Member, consider making a contribution to PAMIC’s Political Action Committees. 

Our PAC support elected officials and candidates, regardless of party affiliation, who are willing to listen and learn about matters affecting the insurance industry.  Legislation and regulations present significant risks to PAMIC Members and the insurance industry. We continue to face countless public policy challenges that include:

  • Threats to the state-based insurance regulatory system

  • Increased regulatory costs and taxes

  • Limits to our use of data to set rates, underwrite, develop new products and settle claims

Every year, PAMIC and PAMIC PAC bring issues important to the mutual property and casualty insurance industry before government leaders and policymakers. The year 2020 was no exception to the importance of having well-established working relationships, particularly with the added layers of a global pandemic and legislative elections.

YEAR-IN-REVIEW -- 2020

  • Implement weekly information sessions with the Pennsylvania Department of Insurance during the emerging pandemic

  • Identified liability and workers’ compensation issues related to Covid-19

  • Advocated for fairness in industry fees and reform to budget allocations related to the Insurance Regulatory and Oversight Fund (IROF)

  • Supported candidates running in state House and Senate races (98% success)

SUCCESSES OF PRIOR YEARS

  • Act 41 of 2018 dealing with the Insurance Departments use of contractors, and in bringing common sense to the exam, the process became law giving us greater visibility and control over the exam process.

  • Act 68 of 2018 dealing with the Uniform Construction Code allowing for the swifter adoption of construction standards allowing for more resilient structures.

  • Act 111 of 2018 correcting a constitutional issue addressing the use of the American Medical Association guidelines to determine injured worker impairment ratings.

  • Act 117 of 2018 ensuring the Insurance Departments solvency accreditation related to Corporate Governance and limiting the Department’s use of outside vendors in reviewing these disclosures.



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