David Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA), discusses the challenges he faces in dealing with a dysfunctional government, the priorities for the year ahead, and the strength gained by the recent merger of the Property Casualty Insurers Association of America (PCI) with the American Insurance Association (AIA).

During the 2019 Federal Government shutdown, Mr. Sampson notes that the Government is “dysfunctional” and has been for some time. He believes the issues will “get worse before it gets worse.” While government employees are distracted, the APCIA has had opportunities to speak with officials that have more time than they would otherwise. Conversely, meetings with the Secretary of Commerce Wilbur Rosson on issues like tariffs were cancelled.

The new Congress is still getting organized. The House Financial Services Committee has indicated that its early priorities will be Credit Rating Agencies and Banking Oversight. The APCIA will attempt to get progress on a long-term reauthorization of TRIA (Terrorism Risk Insurance Act) and inclusion of cyber risk, as well as Long-term Flood Insurance Authorization, the NFIP (National Flood Insurance Program), and support for more private flood insurance.

Mr. Sampson also commented on the merger of PCI and AIA on January 1, 2019, after 18 months of discussions and negotiations. He acknowledges the vision of both Board Groups in seeing the need to position the industry for strong thought leadership and advocacy for decades to come. “It’s off to a good, strong start.”

Load More Related Articles
Load More In Data/Tech/Modeling

Check Also

Innovation is Happening in Insurance, but Not Disruption – Not Yet! – Aisus CEO

Mica Cooper, CEO & President of Aisus/InsureCrypt opens up about so-called ‘disruption…