In 2012, the Property Casualty Insurers Association of America (PCI) merged with its former subsidiary the Association of California Insurance Companies (ACIC). PCI will do business in California under the name ACIC, which has built a long respected tradition of effective advocacy for the property casualty industry since its founding in 1954. The merger has allowed us to consolidate our operations and enable ACIC to better serve its members by providing additional policy resources to its advocacy efforts. ACIC will be able to bring national strength with a California focus as it represents property casualty insurers before the California State Legislature and regulatory agencies.
California is the largest insurance market in the country covering approximately 5.8 million homeowners policies and 1.2 million renters insurance policies in force and 24 million insured cars on the roads. With a new look and renewed strength, ACIC is moving forward with a stronger voice for property casualty insurers and will continue to educate lawmakers about how public polices impact the business of insurance and the availability and affordability of insurance for consumers. ACIC will continue its mission of promoting and protecting the viability of a competitive private insurance market for the benefit of consumers and insurers. ACIC members write $20.2 billion in premium in California covering over 36 percent of the insurance sold in the Golden State.
Property casualty insurers play a vital role in California’s economy. Property casualty insurers provide businesses with the protection they need, pay policyholder claims, put Californians to work, pay premium taxes which are the fourth largest source of revenue for California’s General Fund and purchase a significantly large percentage of the municipal bonds issued.
ACIC is well positioned from a resource and staff perspective to successfully tackle the issues ahead in the 2013 – 2014 California Legislative session. Among the many challenges, ACIC will be highly focused on advocating for appropriate regulatory implementation of the 2012 workers compensation reforms to maximize the cost savings, promoting and defending underwriting freedoms, and opposing adverse proposals that encourage litigation and increase costs for insurance consumers.
Thank you for giving ACIC the opportunity to work on your behalf.
David A. Sampson