PAMIC’s Insurer members make investments in people, technology, marketing, education and product development allowing you to compete in the insurance marketplace.
One area in which you, as an insurer can’t, by law, make an investment is political activity. Yet a balanced regulatory system – that is fair to consumers and insurers alike – is critical to our success. That’s why we ask you, as an employee, director, or officer of a PAMIC Member consider making a contribution to PAMIC’s Political Action Committees.
The PAMIC PAC is a critical tool in our arsenal.
Our PAC support elected officials and candidates, regardless of party affiliation, who are willing to listen and learn about matters affecting the insurance industry. Legislation and regulations present significant risks to PAMIC Members and the insurance industry. We continue to face countless public policy challenges that include:
Threats to the state-based insurance regulatory system
Increased regulatory costs and taxes
Limits to our use of data to set rates, underwrite, develop new products and settle claims
Recently, PAMIC through its lobbying efforts and grassroots support successfully developed and shepherded the Financial Transparency and Exam reforms bill that gives us a larger and earlier voice in determining how financial exams will be conducted. The law requires the Department to develop budgets, allows you to provide efficiencies that keep exam costs down, and publishes an annual list of who the contracted vendors are and how much they charged for their services.
More recently, PAMIC was instrumental in stopping 4 bills in the General Assembly that targets the auto, homeowners and workers’ compensation carriers. These bills would have created new insurance mandates.
We have a stake in what happens in the public policy arena and we need to make sure our voices and opinions are heard. Your financial support is critical to keeping our message ringing loud and clear.
