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Rep. Jackie Speier to Address Professional Insurance Agents During PIA Federal Legislative Summit

WASHINGTON, March 25, 2009 - Rep. Jackie Speier (D-Calif.), a member of the House Financial Services Committee, will address the National Association...
March 25, 2009

WASHINGTON, March 25, 2009  -   Rep. Jackie Speier (D-Calif.), a member of the House Financial Services Committee, will address the National Association of Professional Insurance Agents on April 1, 2009, during the group's annual Federal Legislative Summit.

Rep. Speier (pronounced SPEAR) represents California's 12th Congressional District, where she has lived her entire life. Congresswoman Speier also serves on the House Committee on Oversight and Government Reform.

"We are pleased to welcome Rep. Speier and appreciate her desire to meet with the members of PIA who will be participating in the Federal Legislative Summit," said PIA National Executive Vice President & CEO Leonard C. Brevik. "Her experience with our issues in Congress and in her previous long tenure as Chair of the California Senate Banking, Finance & Insurance Committee will benefit all PIA members."

Speier will speak on the downsides of federal regulation of the insurance industry in her remarks to the Main Street insurance agents during a legislative briefing prior to their visits with members of Congress in their Capitol Hill offices.

During a March 18 hearing of the Financial Services Committee, Speier noted that the reason that the insurance units of the financial services giant AIG remain strong despite the problems in its financial products unit is because of the effectiveness of state insurance regulation. She also noted that the federal Office of Thrift Supervision (OTS) has admitted that it failed to regulate AIG's financial products unit.

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.

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