NAMIC President and CEO Charles M. Chamness will be in Washington D.C. representing the property/casualty industry at a congressional hearing Tuesday, July 24, at 2:00 p.m. EDT. He will be the sole property/casualty representative before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity at a hearing titled “The Impact of Dodd-Frank’s Insurance Regulations on Consumers, Job Creators, and the Economy.”
To recognize the two year anniversary of its passage, the House Financial Services Committee is undertaking a series of hearings to investigate the consequences – both intended and unintended – of the Dodd-Frank Wall Street Reform and Consumer Protection Act. At the hearing, Chamness will offer the industry’s perspective on how the implementation of Dodd-Frank is proceeding and the actual and potential effects on the insurance market in the United States.
Chamness will explain the role of mutual insurers and the property/casualty industry as a pillar of the economy, allowing others to take the risks of owning property or starting a business that is critical to the nation’s economic vitality. The nation’s more than 2,500 property/casualty insurers employ nearly 600,000 people and provide billions in tax revenue and investment.
His testimony will also focus on threats to the industry from the growth of new agencies created by Dodd-Frank, as well as the impact that future regulatory uncertainty is already having on insurers across the country.
NAMIC will be joined on the panel of witnesses by representatives of the U.S. Chamber of Commerce, the Insurance Information Institute, and the Center for Economic Justice.
We will be circulating NAMIC’s written testimony as well as a link to watch the hearing live via webcast next week.
Contact: Jimi Grande
Senior Vice President, Federal and Political Affairs
Posted: Friday, July 20, 2012 2:37:34 PM.
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