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AIA and PCI Send Joint Letter Regarding Federal Tax Changes and Rate Filings

Contact: Marguerite Seidel
(202) 828-7196

WASHINGTON, D.C. -- JANUARY 31, 2018 -- The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) issued a letter to state insurance commissioners today responding to the Consumer Federation of America (CFA) and the Center for Economic Justice’s (CEJ) oversimplified and overstated claims about the federal Tax Cut and Jobs Act.

The AIA/PCI letter highlights that the property and casualty insurance industry’s outstanding track record of price competitiveness means that any bottom-line benefits of the tax bill will ultimately be felt by consumers in the marketplace. However, the impact of the new tax law will differ significantly from insurer to insurer, from line of business to line of business and from state to state. Therefore, AIA and PCI are urging state insurance regulators to carefully consider the complexity of the tax law and the different impact across products and lines of business.

The letter from AIA and PCI is available here.

 

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The American Insurance Association (AIA) is the trade association for today’s leaders in the property-casualty insurance industry.  Our members work each day to protect the American Dream, whether that’s a house, car, business or otherwise.  Now more than 150 years old, AIA has an unparalleled record of advocating on state, federal and international issues for insurers and their customers.

Our membership is comprised of more than 320 companies, collectively writing more than $125 billion in premiums each year.

We have the experience of a veteran organization coupled with the innovative ideas that drive our industry forward. AIA is leading the insurance industry into the second half of the 21st Century… today.


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Media Contacts

Maggie Seidel
VICE PRESIDENT, PUBLIC AFFAIRS
(202) 828-7196
mseidel@aiadc.org

Rachel Wallen
PUBLIC AFFAIRS MANAGER
(202) 828-7149
rwallen@aiadc.org

 

AIA MEDIA

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