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PCI Targets Ads to Oppose Unnecessary Regulation

As Congress begins to mark up financial services regulatory reform legislation, the Property-Casualty Insurers of America (PCI) launched an ad campaign Dec. 1 designed to...
December 9, 2009

As Congress begins to mark up financial services regulatory reform legislation, the Property-Casualty Insurers of America (PCI) launched an ad campaign Dec. 1 designed to tell Congress that property casualty insurers are healthy, competitive and should not be swept into a regulatory overhaul that could ultimately harm consumers:

" … there's a big danger of innocent bystanders being
swept up in the regulatory dragnet. The auto, home
and business insurance industry is not systemically risky;
we remained healthy through the financial crisis with
no need for a taxpayer bailout and were able to pay
claims to policyholders."

"Our customers and our industry should not be penalized
for making good choices with unnecessary, duplicative
new regulations such as systemic risk oversight, which
could ultimately harm consumers."

In conjunction with the ads, PCI is encouraging its members to contact their members of Congress and urge them to exclude home, auto and business insurance from the Financial Stability Improvement Act (H.R. 3996) and the Senate version, the Restoring American Financial Stability Act.  You can view the PCI ads here.