Frequently Asked Questions
Why should my company join NAMIC?
Our industry continues to face challenges from regulators and lawmakers on the state and federal levels. If your company is looking for an effective, efficient advocacy partner, then NAMIC is the association for you. We have been representing and protecting the interests of the industry for more than 100 years.
What benefits does my company receive by becoming a NAMIC member?
NAMIC’s principle business is advocating on its members’ behalf. In fact, your company’s dues support advocacy efforts in the states and Washington, D.C. only. We will be your voice and the voice of the industry by effectively managing your legislative and regulatory environments. While advocacy might be the major benefit, it isn’t the only one. Other benefits include NAMIC products, services, and events.
How are public policy and advocacy positions debated and agreed to?
At NAMIC, it is one company, one vote, and everyone has an opportunity to become an active part in creating solutions for our industry. NAMIC creates committee groups and task forces to listen to the ideas and concerns of its members that ultimately drive public policy and advocacy efforts.
How much will my company’s dues cost?
Dues payments are contingent upon a company’s direct written premium.
My company is a stock company, why should I join NAMIC?
Benefits of NAMIC membership are not constricted by a company’s governance structure. Almost all industry issues affect property/casualty insurance companies in the same manner. So it doesn’t matter if your company is a mutual, stock, reciprocal, or perpetual, NAMIC serves the needs of the entire industry.
How does my company join NAMIC?
Companies interested in becoming a NAMIC member must fill out an application that will be reviewed and voted upon by NAMIC’s board of directors.
Once my company is a member, how do I get involved in NAMIC?
Everything we do, from advocacy to events, is created by members for members. If you are looking for an opportunity to get involved and make a difference, chances are that NAMIC has an open seat for you on a committee or task force. No permanent seats on those committees and task forces exist, which allows all members the opportunity to participate and be heard on the issues that concern them.
Are there other companies like mine in the NAMIC membership?
The NAMIC membership is the most diverse of any current insurance trade association. Members include large national writers, regional carriers, niche companies, and small county mutuals. Together NAMIC's members account for 39 percent of the overall property/casualty insurance market. NAMIC members represent 54 percent of homeowners, 43 percent of automobile, and 32 percent of the business insurance markets. In other words, yes, there are companies like yours in the membership, and finding your peer group will be easy.
Posted: Wednesday, March 24, 2010 1:15:00 PM. Modified: Wednesday, June 22, 2016 2:19:25 PM.
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