WASHINGTON, March 4, 2008 — The Board of Directors of the National Association of Professional Insurance Agents (PIA) unanimously passed a resolution March 2 reaffirming the association’s position in opposition to optional federal charters for insurers and its support for state regulation of insurance.

“Let there be no doubt: PIA is opposed to federal insurance regulation in any form,” said PIA National President Robert Page. “Specifically, PIA is on record in opposition to all proposals calling for Optional Federal Charters (OFC) and the creation of a federal insurance regulator.”

“Let there also be no doubt: PIA supports the states as the functional regulators of the business of insurance,” Page said.

The unanimous reaffirmation by the PIA Board of Directors came at the end of a week in which PIA members from around the country traveled to Washington, D.C. for their annual Federal Legislative Summit. Top on the list of issues agents pressed in their visits with Senators and Representatives was PIA’s firm opposition to an OFC.

The president of the National Association of Insurance Commissioners (NAIC) Sandy Praeger gave the keynote address February 27 at the PIA legislative conference and the president of the National Conference of Insurance Legislators (NCOIL) Rep. Brian Kennedy of Rhode Island, spoke to the PIA National Board of Directors March 2. Both Praeger and Kennedy reconfirmed their respective organizations’ opposition to OFC and thanked PIA for its steadfast support of state regulation of insurance.

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America (SM). PIA’s web address is www.pianet.com.

PIA National Resolution in Opposition to OFC (PDF file, 3/2/08)