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NAMIC Publications |
NAMIC Leadership Bios, Photos, and NAMIC Logos and GraphicsReview biographies or download photographs of the NAMIC board of directors and executive staff. Download NAMIC logos or graphics. All NAMIC logos are trademarked. Their use is strictly prohibited unless approved by NAMIC. For permission to utilize any of the corporate or product logos, e-mail your request to Bob Detlefsen. |
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Legislation that would create a federal backstop for catastrophic bonds issued by state guaranty funds could ultimately expose the taxpayers to further risk and damage reform efforts at the state level, NAMIC said Wednesday. (Posted: 3/10/2010)
NAMIC Applauds House Passage of Agent Licensing Reform Legislation
NAMIC commended members of the House for voting to approve legislation creating a uniform licensing system for insurance agents and brokers. (Posted: 3/4/2010)
NAMIC Says NFIP Lapse is ‘Disconcerting’
For the second consecutive time, Congress has failed to extend the National Flood Insurance Program before its expiration date and has allowed it to lapse. (Posted: 3/1/2010)
NAMIC: Misguided Anti-Trust Repeal Won’t Help Consumers
As the House votes to pass legislation repealing the limited anti-trust exemption for health insurers, the National Association of Mutual Insurance Companies (NAMIC) offered a word of caution about the implications of the bill. (Posted: 2/24/2010)
NAMIC Applauds Removal of Medical Liability from Anti-Trust Repeal as ‘Good First Step’
NAMIC has applauded the removal of medical liability insurance from legislation seeking to repeal the industry’s limited anti-trust exemption as a good first step while continuing to express concern regarding the overall bill. (Posted: 2/22/2010)
NAMIC Applauds CMS Medicare Secondary Reporting Delay
NAMIC voiced its support for the decision by the Centers for Medicare & Medicaid Services to delay implementation of Medicare Secondary Payer mandatory reporting. (Posted: 2/18/2010)
NAMIC Comments on N.H. Supreme Court Ruling Against Taking JUA Funds
NAMIC filed an amicus brief with the New England Legal Foundation in support of the petitioners who were policyholders of New Hampshire's medical malpractice joint underwriting association and who challenged the state's appropriation of the JUA's surplus. (Posted: 1/28/2010)
NAMIC Says ‘Responsibility Fee’ Unfair to Property/Casualty Insurers
NAMIC called on lawmakers to ensure that TARP fund recovery fees are paid by those companies who received money from the federal government. (Posted: 1/15/2010)
The New York Insurance Association, Inc. filed suit today in the State Supreme Court to stop the state’s diversion of assessments that are meant to pay for the expenses of the New York State Insurance Department, to fund noninsurance programs. (Posted: 1/13/2010)
NAMIC Opposes ‘Misguided’ Efforts to Repeal McCarran-Ferguson Exemption
On Thursday, NAMIC called on members of Congress to reject language that would repeal the limited antitrust exemption created by the McCarran-Ferguson Act from inclusion in the final healthcare reform bill. (Posted: 1/7/2010)
NAMIC Responds to Mass. AG’s Report on State’s Auto Insurance Managed Competition System
Paul Tetrault, NAMIC state affairs manager for the Northeast, comments on the release of a new report by the Office of Massachusetts Attorney General Martha Coakley on the state’s auto insurance managed competition system. (Posted: 12/23/2009)
Property/Casualty Insurance Industry Encouraged as Michigan Legislature Adjourns
The Michigan Legislature adjourned Saturday without taking any further action on a property/casualty insurance bill package passed by the state’s House of Representatives last week. The Senate did not take up the legislation. (Posted: 12/21/2009)
NAMIC: NFIP Extension Should be Used to Pass Reforms
The National Association of Mutual Insurance Companies called on members of Congress to use the latest short term extension to complete reforms to the National Flood Insurance Program. (Posted: 12/16/2009)
NAMIC Responds to House Passage of Wall St. Reform Bill
NAMIC responded today to the passage of H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009, by the U.S. House of Representatives. (Posted: 12/11/2009)
The National Association of Mutual Insurance Companies (NAMIC) recently submitted written comments and provided testimony at a Public Regulation Commission’s Insurance Division public hearing on the adoption of a model audit rule for insurance companies. (Posted: 12/4/2009)
Financial Services Committee Approves Federal Insurance Office Legislation
NAMIC recognized the House Financial Services Committee for its work on legislation it approved Tuesday establishing a Federal Insurance Office within the Department of the Treasury. (Posted: 12/2/2009)
NAMIC: Property Casualty Insurers Not a Systemic Risk
Property casualty insurance companies do not pose a systemic risk to the U.S. economy and should be excluded from legislation to oversee financial institutions, the National Association of Mutual Insurance Companies (NAMIC) said. (Posted: 12/2/2009)
NAMIC Responds to Dodd Financial Regulatory Overhaul Draft
The National Association of Mutual Insurance Companies (NAMIC) responded to the introduction of legislation to revamp our nation's financial services regulatory structure released today by Senate Banking committee Chairman Christopher Dodd, D-Conn. (Posted: 11/10/2009)
Building Code Coalition Applauds Committee Passage of HR 3377
The Building Code Coalition (BCC) today applauded the House Transportation and Infrastructure Committee for unanimously voting to approve HR 3377, the Disaster Response, Recovery, and Mitigation Enhancement Act of 2009. (Posted: 11/5/2009)
NAMIC Applauds Measure to Maintain NFIP
NAMIC commends Congress for including an extension of the National Flood Insurance Program in a continuing resolution, keeping the program in place until December 18. (Posted: 10/30/2009)
Moore-Paulsen Amendment Provides Clarity to CFPA Legislation
The House Financial Services Committee today adopted an amendment ensuring that all lines of property/casualty insurance would be exempted from the jurisdiction of the Consumer Financial Protection Agency. (Posted: 10/21/2009)
Harrington Briefs Capitol Hill on AIG, the Economic Collapse and Regulatory Reform
As proponents of federal insurance regulation continue to invoke the collapse of American International Group (AIG) as evidence of the significant risk posed by insurers to financial system, Scott E. Harrington, a professor at the Wharton School of the University of Pennsylvania offered a contrary perspective to reporters and congressional staffers at a Capitol Hill briefing Tuesday. (Posted: 10/13/2009)
Federal Insurance Office Draft a Departure from Original Intent
The National Association of Mutual Insurance Companies (NAMIC) continues to have serious concerns over a draft outlining the creation of a new federal insurance office that was the subject of a House Financial Services Committee hearing Tuesday. (Posted: 10/6/2009)
NAMIC MEDIA ADVISORY: Capitol Hill Press Briefing
As Congress begins marking up financial services regulatory reform legislation, the National Association of Mutual Insurance Companies (NAMIC) will host a press briefing with economist Scott E. Harrington of the Wharton School of the University of Pennsylvania to discuss the financial crisis, AIG, and the future of insurance regulation on Oct. 13, 2009. (Posted: 10/6/2009)
North Carolina Legislators Win NAMIC ‘State Legislators of the Year’ Award
Two North Carolina state legislators have been named "State Legislators of the Year" by the National Association of Mutual Insurance Companies (NAMIC) for their efforts to pass legislation reforming the state's "Beach Plan," the coastal insurer of last resort. Chuck Chamness, NAMIC's president/CEO, announced the award winners – Rep. Hugh Holliman and Sen. Tony Rand – today during NAMIC's Annual Convention being held in Atlanta. (Posted: 9/23/2009)
Glen Johnson Recognized as NAMIC Chairman’s Award Winner
Glen Johnson, the retired president of the Ontario Mutual Insurance Association in Cambridge, Ontario was honored with the 2009 Chairman’s Award by NAMIC. (Posted: 9/23/2009)
John T. Hill Assumes the Office of NAMIC Chairman
John T. Hill officially began his term as chairman of the National Association of Mutual Insurance Companies (NAMIC) today during the Annual Convention in Atlanta. (Posted: 9/23/2009)
NAMIC Inducts Ten New Members Into the ‘Century Club’
The National Association of Mutual Insurance Companies announced the induction of ten new members into its “Century Club” today, recognizing them for serving policyholders for 100 years. (Posted: 9/23/2009)
NAMIC Calls for Focused Financial Services Regulatory Reform
The National Association of Mutual Insurance Companies (NAMIC) called on members of the House Financial Services Committee to target the regulatory failures that led to the financial crisis as they take up financial services regulatory reform. (Posted: 9/23/2009)
NAMIC Looks Back at Success Amidst ‘Tremendous Uncertainty’
At the close of its annual Convention the outgoing National Association of Mutual Insurance Companies chairman Bruce Thomas looked back on a tumultuous year in office. (Posted: 9/23/2009)
The following statement may be attributed to Mark Johnston, state affairs manager for the Midwest Region at the National Association of Mutual Insurance Companies (NAMIC). Johnston submitted testimony for the Sept. 22 hearing at the Missouri Department of Insurance, Financial Institutions and Professional Registration on a proposed amendment to the regulation governing the filing of required documents by insurers admitted in Missouri that are domiciled in other states. (Posted: 9/23/2009)
New Report Warns Against Applying Systemic Risk Regulation to Insurers
Blame for the financial crisis and the near collapse of American International Group should reflect “the substantial evidence of fundamental failures in U.S. and foreign regulation of commercial banking, thrift lending, and investment banking,” according to a new report that analyzes the role of AIG and the insurance sector in the financial crisis of 2008-09. (Posted: 9/22/2009)
NAMIC Welcomes New Members to Their First Annual Convention
The National Association of Mutual Insurance Companies officially welcomed twenty new members at its Annual Convention in Atlanta today. (Posted: 9/22/2009)
NAMIC Members Converge for 114th Annual Convention
The National Association of Mutual Insurance Companies (NAMIC) kicked off its 114th Annual Convention in Atlanta today, providing members the opportunity to look back on the past twelve months and prepare for those to come. (Posted: 9/21/2009)
NAMIC Names David Scott as Legislator of the Year
The National Association of Mutual Insurance Companies on Monday presented the Federal Legislator of the Year Award to United States Rep. David Scott, D-Georgia, at its Annual Convention in Atlanta. (Posted: 9/21/2009)
NAMIC Testifies Before Florida’s Mitigation Discount Committee
The property/casualty insurance industry has a long history of supporting efforts to improve and enhance safety and reduce losses of all kinds. However, the arbitrary assignment of premium discounts for certain mitigation features without regard to companies’ base rates or premium calculations for existing business has proven to be the downfall of the movement to “harden homes” in Florida, according to the National Association of Mutual Insurance Companies (NAMIC). (Posted: 9/17/2009)
NAMIC Opposes CRA Expansion to Property/Casualty Insurance Companies
The National Association of Mutual Insurance Companies strongly opposes legislation that would apply provisions of the Community Reinvestment Act to insurance companies that will be considered in a hearing today of the House Financial Services Committee. (Posted: 9/16/2009)
NAMIC Testifies at Wisconsin Insurance Department Hearing on Credit-based Insurance Scores
The following statement may be attributed to Neil Alldredge, senior vice president of State & Policy Affairs at the National Association of Mutual Insurance Companies (NAMIC). Alldredge testified yesterday at the Wisconsin Office of Commissioner of Insurance hearing on credit-based insurance scores. (Posted: 9/15/2009)
NAMIC Responds to President Obama’s speech in New York
“We agree with President Obama that financial services regulation should hold companies and regulators accountable for their actions that contributed to the financial crisis,” said Jimi Grande, senior vice president of federal affairs for the National Association of Mutual Insurance Companies(NAMIC). “However, it is important to remember that not every regulator failed in this crisis. Great care should be taken to avoid overreacting with any new regulatory proposal that could limit the abilities of regulators that have been effective.” (Posted: 9/14/2009)
The National Association of Mutual Insurance Companies’ (NAMIC) 114th Annual Convention
Property/casualty insurance industry executives will come together to discuss insurance regulation and systemic risk regulation in the post-financial crisis environment, investments and the economic outlook, rating agencies, leadership and technology among other issues. (Posted: 9/11/2009)
NAMIC Comments on Resignation of Massachusetts Insurance Commissioner Nonnie Burnes
The following statement on the resignation of Massachusetts Insurance Commissioner Nonnie Burnes may be attributed to Paul Tetrault, Northeast state affairs manager for the National Association of Mutual Insurance Companies. (Posted: 9/10/2009)
NAMIC Applauds House Passage of Surplus Lines Bill
The House of Representatives this morning passed H.R. 2571, the Non-Admitted and Reinsurance Reform Act of 2009. Sponsored by Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J., the bill would enact common sense reforms to the non-admitted insurance, or surplus lines market as well as the reinsurance market for property/casualty insurance. (Posted: 9/9/2009)
NAMIC Announces Key Promotions of Dykstra, Grande, Alldredge
The National Association of Mutual Insurance Companies announced the promotions of three senior staff of the association. (Posted: 9/1/2009)
NAMIC Applauds Legislator Group Adoption of Bad Faith Resolution
The National Association of Mutual Insurance Companies (NAMIC) today applauded the American Legislative Exchange Council for adopting a resolution opposing insurance bad faith legislation. (Posted: 8/31/2009)
North Carolina Beach Plan Legislation Moves to Governor’s Desk
The North Carolina House concurred yesterday afternoon with Senate amendments to HB 1305 to reform the “Beach Plan.” The bill passed 92-19. (Posted: 8/7/2009)
North Carolina’s ‘Beach Plan’ Moves One Step Closer to Governor’s Desk; NAMIC Comments
The North Carolina Senate Commerce Committee today passed HB 1305, legislation to reform the state's "Beach Plan." The bill now goes before the full Senate for consideration. (Posted: 8/5/2009)
NAMIC To Congress: Long-Term Extension and Reform of NFIP Imperative
The following comments on the House vote to extend the National Flood Insurance Program for six months may be attributed to Kathy Mitchell, federal affairs director for NAMIC: (Posted: 7/29/2009)
NAMIC Responds to Administration’s Proposal for Office of National Insurance
The following statement can be attributed to NAMIC’s Vice President of Federal and Political Affairs Jimi Grande: (Posted: 7/23/2009)
NAMIC Applauds House Introduction of Legislation to Help Insurance Consumers
The National Association of Mutual Insurance Companies (NAMIC) today commended Reps. Earl Pomeroy, D-N.D., and Paul Ryan, R-Wis., for introducing legislation that would improve the financial stability of small rural insurance carriers and allow them to better serve their policyholders. (Posted: 7/23/2009)
North Carolina House of Representatives OK’s Beach Plan Legislation; NAMIC Responds
The North Carolina House of Representatives today passed legislation to reform the state's "Beach Plan" on a vote of 94-22. The bill now goes to the Senate. The statement below may be attributed to Liz Reynolds, Southeast state affairs manager for the National Association of Mutual Insurance Companies (NAMIC). (Posted: 7/15/2009)
NAMIC Applauds Governor for Nixing Helmet Legislation
The National Association of Mutual Insurance Companies (NAMIC) applauds Missouri Gov. Jay Nixon for vetoing Senate Bill 202, legislation that would have repealed the state’s 42-year-old helmet law for motorcycle riders. (Posted: 7/6/2009)
Natural Disaster Policy Should Not Incentivize Risky Behavior, NAMIC Tells Congress
To properly address coastal insurance issues there must be an appropriate balance between the private insurance sector and the government that avoids encouraging risky behavior in disaster-prone areas. (Posted: 7/2/2009)
NAMIC To Congress: Support The “Access To Repair Parts Act”
Today, NAMIC joined a growing roster of consumer advocates and business groups applauding the introduction of the “Access to Repair Parts Act.” (Posted: 6/26/2009)
NAMIC Responds to Florida Governor’s Veto of HB 1171
Florida Gov. Charlie Crist yesterday vetoed HB 1171, a bill that would have allowed some large insurers to write policies without strict price regulation. The statement below may be attributed to Liz Reynolds, Southeast state affairs manager for the National Association of Mutual Insurance Companies (NAMIC). (Posted: 6/25/2009)
NAMIC Encouraged but Cautious About Administration’s New White Paper
The Obama administration today offered several positive recommendations that could help address the regulatory problems that created the current financial crisis, according to NAMIC. (Posted: 6/17/2009)
Property/casualty insurance does not pose a systemic risk and should not be subject to any new federal systemic authority, according to NAMIC. (Posted: 6/16/2009)
Property/Casualty Insurance Industry Not Systemically Risky, NAMIC Will Tell Key Congressional Panel
The property/casualty insurance industry has remained strong and solvent through the current economic crisis and poses no systemic risk to the nation’s economy. That’s what the National Association of Mutual Insurance Companies (NAMIC) will tell members of a congressional subcommittee next week. (Posted: 6/12/2009)
A proposal ostensibly aimed at ramping up consumer protections for New Jersey insurance consumers would likely lead to higher costs instead, according to the National Association of Mutual Insurance Companies (NAMIC). NAMIC said the measure to expand the state’s “bad faith” law is unnecessary. (Posted: 6/11/2009)
NAMIC: Connecticut Legislature Ends Session on Positive Note for Insurance Consumers
The Connecticut General Assembly ended its 2009 regular session by extending pro-consumer insurance legislation and not acting on a proposal that would have imposed unnecessary rating restrictions, according to the National Association of Mutual Insurance Companies (NAMIC). (Posted: 6/5/2009)
New Building Code Legislation Would Protect Lives, Property Says Building Code Coalition
The Building Code Coalition (BCC) today applauded the introduction of legislation encouraging the adoption and enforcement of statewide building codes throughout the nation. The proposal was introduced by Reps. Mario Diaz-Balart, R-Fla., and Michael Arcuri, D- N.Y. (Posted: 5/26/2009)
NAMIC Urges Swift Congressional Action to Ease Access to Surplus Lines Insurance
The National Association of Mutual Insurance Companies (NAMIC) today congratulated Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J., for introducing legislation to modernize the regulation of non-admitted insurance and reinsurance markets. The proposal enjoys bipartisan support, with more than 20 representatives, including House Financial Services Committee Chairman Barney Frank, D-Mass., signing on as original co-sponsors of the legislation. (Posted: 5/22/2009)
The National Association of Mutual Insurance Companies (NAMIC) today applauded Congress for introducing a proposal that would allow insurance agents and brokers to become licensed in multiple states and would, ultimately, lead to more choices and lower costs for insurance consumers. (Posted: 5/21/2009)
NAMIC Cautions Congress to Avoid Dual Regulation
The following statement can be attributed to NAMIC’s Vice President of Federal and Political Affairs Jimi Grande. (Posted: 5/14/2009)
NAMIC Message to Florida Governor, Insurance Officials Stops Anti-consumer Rule in Its Tracks
INDIANAPOLIS (May 13, 2009) – Florida’s highest ranking elected officials have responded positively to testimony from the National Association of Mutual Insurance Companies (NAMIC). Members of the Florida Financial Services Commission today abandoned a proposed rule change after NAMIC outlined the unintended consequences it could cause. (Posted: 5/13/2009)
A set of rules adopted by the National Association of Insurance Commissioners (NAIC) that requires insurance companies to disclose information related to climate change serves mainly to promote the ideological objectives of global warming activists, according to a briefing paper published by the Washington Legal Foundation. (Posted: 5/11/2009)
Anti-credit Scoring Legislation is Anti Consumer, NAMIC Tells New Jersey Senate Committee
A proposal to temporarily prohibit insurance companies from using credit-based insurance scoring to rate policies in New Jersey would lead to cross-subsidization and higher prices for most insurance consumers, NAMIC testified on Thursday. (Posted: 5/7/2009)
NAMIC Commends Florida Legislature for More Realistic Approach to Insurance Rates
INDIANAPOLIS (May 4, 2009) – The National Association of Mutual Insurance Companies (NAMIC) today issued the following statement in response to Florida’s adjournment of its regular 2009 session. The comments may be attributed to Liz Reynolds, NAMIC’s Southeast state affairs manager. (Posted: 5/4/2009)
NAMIC Opposes ‘Dangerous’ Expansion of Maine Unfair Claims Law ‘in the Strongest Possible Terms’
Legislation before a Maine legislative committee is unnecessary and would lead to higher costs for individuals and businesses, according to NAMIC. (Posted: 4/27/2009)
NAMIC Applauds Arkansas Legislature for Prohibiting Double Taxation Through Accident Response Fees
INDIANAPOLIS (April 2, 2009) – The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in response to the Arkansas Legislature’s passage this week of HB 1895, legislation to Prohibit the Imposition of an Accident Response Service Fee. The comments may be attributed to Liz Reynolds, NAMIC’s Southeast state affairs manager. (Posted: 4/2/2009)
Proposed Federal Regulation of Insurance Would Hurt Consumers, NAMIC Says
WASHINGTON (April 2, 2009) – The National Association of Mutual Insurance Companies (NAMIC) voiced its opposition to new legislation creating a federal Office of National Insurance introduced today by Reps. Melissa Bean, D-Ill., and Ed Royce, R-Calif. (Posted: 4/2/2009)
Treasury Secretary’s Plan to Address Financial Crisis Leaves Many Unanswered Questions
WASHINGTON (March 26, 2009) – The comments below from Jimi Grande, vice president for federal and political affairs of the National Association of Mutual Insurance Companies (NAMIC), are in response to today’s remarks from Treasury Secretary Timothy F. Geithner during a hearing before the House Financial Services Committee. (Posted: 3/26/2009)
NAMIC Works with U.S. Treasury Department in Advance of Thursday’s Hearing on Regulatory Reform
WASHINGTON (March 25, 2009) – The National Association of Mutual Insurance Companies (NAMIC) has been working with officials from the U.S. Treasury Department to ensure that they understand the concerns of the property/casualty insurance industry. Earlier this month NAMIC staff held a meeting with several Treasury officials as the new department worked to craft a regulatory blueprint to help address the financial crisis. (Posted: 3/25/2009)
Credit-based Insurance Scoring Should Not be Banned During Economic Crisis, NAMIC Says
NAMIC has countered assertions by Florida’s chief financial officer, Alex Sink, about the value of credit-based insurance scoring during the current economic crisis. (Posted: 3/20/2009)
INDIANAPOLIS (March 19, 2009) – A proposal to hold down homeowners’ insurance rates in North Carolina would harm rather than help insurance consumers, according to the National Association of Mutual Insurance Companies (NAMIC). The North Carolina House Insurance Committee today is hearing testimony on a proposal to freeze homeowners’ insurance rate modifications that were approved by the insurance commissioner. (Posted: 3/19/2009)
NAMIC Testifies at Senate Hearing on Insurance Regulation
John T. Hill, president/COO of the New York-based Magna Carta Companies and chairman-elect of the NAMIC board of directors, testified at a crucial Senate hearing Tuesday. (Posted: 3/17/2009)
In its first hearing on insurance regulation since the nation’s financial crisis began, the Senate Banking, Housing and Urban Affairs Committee will hear testimony and question key members of the insurance community, including NAMIC. (Posted: 3/16/2009)
Fed Chairman’s Comments In Line with NAMIC View of Systemic Risk Regulation
WASHINGTON (March 11, 2009) – The National Association of Mutual Insurance Companies (NAMIC) welcomed remarks made by Federal Reserve Chairman Ben S. Bernanke on systemic risk. Speaking before the Council on Foreign Relations this week, Bernanke called for the creation of an authority to monitor and oversee broad, systemic risks to prevent future financial collapses. (Posted: 3/11/2009)
NAMIC Opposes Additional Restriction on Insurers’ Use of Hurricane Deductibles in Rhode Island
INDIANAPOLIS (March 11, 2009) – A proposal to restrict insurers’ ability to apply hurricane deductibles is not in the best interest of consumers, according to the National Association of Mutual Insurance Companies (NAMIC). A bill before the Rhode Island Legislature would add another requirement to existing laws that limit the circumstances in which insurers can apply a hurricane deductible. (Posted: 3/11/2009)
NAMIC Names New Membership, Insurance Services Director
INDIANAPOLIS (March 4, 2009) - Terry Suttner has joined the National Association of Mutual Insurance Companies (NAMIC) as director of membership and insurance services. He began in his new role this past December. (Posted: 3/4/2009)
NAMIC-supported ‘No Pay/No Play’ Bill Debated in Kansas
INDIANAPOLIS (March 4, 2009) – A proposal advocated by the National Association of Mutual Insurance Companies (NAMIC) to adopt “No Pay/No Play” legislation was heard yesterday by the Kansas Senate Financial Institutions and Insurance Committee. (Posted: 3/4/2009)
Newly Formed Coalition to Represent Main Street Interests Sends Letter to Congress
To protect the U.S. economy, Congress must ensure that in the rush to enact reforms of the financial system, it takes care not to harm, but, in fact, protect, businesses on main street as they are part of the solution, not part of the problem. That’s the message Congress received in a letter sent by a newly formed coalition to represent the interests of the main street financial services marketplace. (Posted: 2/25/2009)
Governor’s Budget Bill Unfair to Low-income Wisconsin Drivers, NAMIC Charges
INDIANAPOLIS (Feb. 20, 2009) – Low- and middle-income drivers in Wisconsin would be especially hard hit by higher insurance premiums under the governor’s budget proposal, according to the National Association of Mutual Insurance Companies (NAMIC). NAMIC is working with other organizations, including the Wisconsin Insurance Alliance and the Wisconsin Association of Mutual Insurance Companies, to defeat the proposal. (Posted: 2/20/2009)
NAMIC Slams Minnesota Legislation as ‘Harmful to the Idea of Mutuality’
A proposal to require insurance companies to pay fees and interest to Minnesota claimants who sue is unreasonable, encourages frivolous litigation, and undermines the concept of mutuality, according to NAMIC. (Posted: 2/18/2009)
INDIANAPOLIS (Feb. 18, 2009) – Flexible rating and underwriting freedom for property/casualty insurers lead to increased competition for consumers, according to the National Association of Mutual Insurance Companies (NAMIC). NAMIC yesterday urged a Connecticut legislative panel to support the continuation of a flex-rating statute but oppose a ban on credit-based insurance scores for auto insurance. (Posted: 2/18/2009)
NAMIC Board Adopts Principles to Guide Financial Services Debate
WASHINGTON (Feb. 11, 2009) – The National Association of Mutual Insurance Companies’ (NAMIC) board of directors has approved a guiding set of principles to help direct advocacy efforts during the regulatory reform debate in the 111th Congress. (Posted: 2/11/2009)
Michigan Governor’s Call for Freezing Auto Rates Will Hurt Citizens, NAMIC Says
In her State of the State Address on Tuesday, Gov. Jennifer Granholm called "upon every auto insurance company to freeze rate increases for 12 months while the Legislature works to enact comprehensive insurance reform." NAMIC, however, cautions the Legislature and governor to tread carefully regarding questionable recommendations. (Posted: 2/4/2009)
INDIANAPOLIS (Feb. 3, 2009) – A proposed expansion of a Connecticut unfair insurance practices law is unnecessary and would result in higher costs for insurance buyers, according to the National Association of Mutual Insurance Companies (NAMIC). The proposal is being considered by the state Legislature’s Insurance and Real Estate Committee. (Posted: 2/3/2009)
NAMIC to Testify at NCOIL Hearing on Credit Default Swaps
INDIANAPOLIS (Jan. 23, 2009) – Credit default swaps are not insurance and should not be viewed as such by policymakers seeking answers to the current financial crisis. That’s the message the National Association of Mutual Insurance Companies (NAMIC) will deliver to state legislators meeting for a special hearing in New York City tomorrow. (Posted: 1/23/2009)
Capitol Hill Veterans Join NAMIC’s Federal Affairs Team
WASHINGTON (Jan. 21, 2009) – With the financial crisis at the forefront of congressional debate, the National Association of Mutual Insurance Companies (NAMIC) announced the hiring of two Capitol Hill veterans with financial services’ backgrounds. Kathy Mitchell and Dylan Jones have joined NAMIC’s Federal Affairs team as its new Democratic lobbyists. (Posted: 1/21/2009)
NAMIC to Host Climate and Insurance International Summit
INDIANAPOLIS (Jan. 14, 2009) – The National Association of Mutual Insurance Companies (NAMIC) announced today that it will host a two-day international summit in March on climate and insurance issues. (Posted: 1/14/2009)
GAO: Federal Insurance Charter Could Have Unintended Consequences
A new government report on the nation’s financial regulatory system provides more evidence of the need for Congress to target specific areas of financial services regulation apart from the property/casualty insurance industry. (Posted: 1/12/2009)
The National Association of Mutual Insurance Companies recently sent Congress and state policymakers a comprehensive report on the current financial crisis and the role – or lack thereof – of the property/casualty insurance industry. (Posted: 1/12/2009)
New NAMIC Report Analyzes Financial Crisis and Cautions Against Federal Overreach
A new report that analyzes the causes of the nation’s financial crisis cautions Congress to avoid disturbing the financial markets and regulatory systems that have served consumers well. The report, from NAMIC, was written by former Illinois Director of Insurance Nat Shapo. (Posted: 1/8/2009)
News Release Archive: 2009 | 2008 | 2007 | 2006 | 2005 | 2004
About NAMICFounded in 1895, NAMIC is a full-service national trade association with more than 1,400 member companies that underwrite 43 percent ($196 billion) of the property/casualty insurance premium in the United States. NAMIC members account for 44 percent of the homeowners market, 38 percent of the automobile market, 39 percent of the workers' compensation market, and 31 percent of the commercial property and liability market. NAMIC benefits member companies through advocacy, public policy and member services. Information about the association, its member companies and the property/casualty insurance industry can be found at NAMIC Online, www.namic.org. Not a Member of NAMIC yet?Learn more about NAMIC and the many benefits that membership in the largest property/casualty insurance trade association can offer your company. Learn how your company can become a member of NAMIC. Membership Applications
The National Association of Mutual Insurance Companies3601 Vincennes Road |
NAMIC Vision StatementTo be the recognized leader in providing association membership value to the property/casualty insurance industry. NAMIC Mission StatementNAMIC strengthens and supports its members and the property/casualty insurance industry by providing effective and high value advocacy, member services and public policy development. Advocacy: Member Services: Public Policy: NAMIC Shared Values and BeliefsNAMIC values mutuality: Mutual insurance is a successful, stable, and policyholder focused company structure that provides distinct perspective and contributions to the insurance marketplace. NAMIC values member involvement: The insurance industry and this association cannot achieve their potential without the active involvement of competent and committed volunteers. NAMIC values member interaction: Member company staffs build mutually beneficial long-term relationships through knowledge sharing and common experiences. NAMIC values collaboration: Whenever possible, the association seeks to work with industry organizations, regulators, and others to achieve common goals. NAMIC values low cost, highly effective operations: The combination of a high quality staff, proven technology, an issue oriented approach to advocacy, and a core/non-core funding and operations philosophy provides cost-effective association value to our membership. NAMIC values fairness and opportunity in governance: NAMIC boards and committees are open to and composed of individuals from companies that accurately represent the diversity of the association. There are no permanent seats on any association committee or board; every regular company member has an equal voice. |
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