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AIA Testifies at Today’s USMCA Hearing

Contact: Marguerite Seidel
(202) 828-7196

WASHINGTON, D.C. – NOVEMBER 15, 2018 – AIA’s Steve Simchak, vice president and chief international counsel at the American Insurance Association, testified in support of the United States-Mexico-Canada Agreement (USMCA) at today’s U.S. International Trade Commission hearing on the “United States-Mexico-Canada Agreement: Likely Impact on the U.S. Economy and on Specific Industry Sectors.”

“Though not all of the outcomes in USMCA are ideal, AIA believes that the USMCA will leave U.S. insurers and reinsurers in a measurably better position overall than we currently enjoy under the North American Free Trade Agreement (NAFTA). NAFTA has been essential for opening or improving access for U.S. insurers in Mexico and Canada, but as insurance and international trade have changed, so too have the needs of insurers in international trade agreements. In key areas, USMCA will bring the rules that govern trade between our three markets into line with the new reality of how insurance trade is conducted today. Furthermore, despite concerns from some at the outset of negotiations, USMCA preserves most of the benefits afforded to the insurance industry under NAFTA. As a result, we hope that Congress will approve the USMCA at the earliest opportunity, and that Canada and Mexico likewise will complete their own domestic procedures in the near future.”

AIA’s full written testimony can be found 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 330 companies, collectively writing more than $134 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 & MEDIA CONTACT
(202) 828-7149
rwallen@aiadc.org

 

 

AIA MEDIA

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