Annual Report 2018 Namic
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2018 NAMIC PAC ANNUAL REPORT TABLE OF CONTENTS WORD FROM THE CHAIRMAN ................................................................ 2 2018 ELECTION CYCLE ACCOMPLISHMENTS ........................................ 3 NAMIC PAC TOP TWENTIES OF 2018 ..................................................... 4 PARTICIPATING COMPANIES .................................................................. 6 NAMIC PAC CLUB MEMBERS ................................................................. 9 ISSUES & COMMITTEES ...................................................................... 27 NAMIC PAC CONTRIBUTIONS .............................................................. 29 NAMIC PAC TRUSTEES 2019 MEMBERSHIP ........................................ 37 FACTS ABOUT CCP .............................................................................. 38 2018 CCP PARTICIPANTS .................................................................... 39 HOW NAMIC STACKS UP ..................................................................... 45 2 On behalf of NAMIC PAC, its Trustees, and staff, I would like to present this report on NAMIC PAC activities for 2018. I hope you will take a few minutes to look through this and see what your WORD support has enabled us to accomplish in Washington and in state capitals across the country. 2018 was an important year for NAMIC PAC, and a very fruitful one. With your support, NAMIC PAC remained one of the fastest growing PACs in our industry. The PAC raised $587,580 in 2018, FROM THE which – combined with the $561,474 raised in 2017 – paved the way for NAMIC PAC to raise a total CHAIRMAN of $1,149,054 for the 2018 election cycle. 2019 welcomes over 100 new federal legislators, many new state legislators and at least 11 new regulators, who will be working on issues that affect our industry, including your business. Such large numbers of newly elected lawmakers underscore the importance of a vibrant and active "WITH YOUR political action committee. As proof, many of these new lawmakers were elected with NAMIC PAC SUPPORT WE WILL support, as the PAC invested more than $1.1 million to over 350 federal and state candidates CONTINUE TO BUILD across 47 states—achieving an 87 percent election success rate. RELATIONSHIPS..." With your support we will continue to build relationships with these and other lawmakers on Capitol Hill, providing them the data and understanding on what the decisions they make mean for the property/casualty insurance marketplace and consumers. NAMIC enjoyed many successes in 2018, yet at the same time, shared the frustration most Americans felt as Congress and state legislatures kicked the can down the road on important issues rather than make the tough decisions. But those decisions will have to be made some time, and the candidates Americans elected in November may be the ones to define the path forward. Some of the policy issues NAMIC will continue to focus on this year at both the federal and state levels include bad faith initiatives, the development and regulation of automated vehicles, the integration of commercial drone use into U.S. airspace, the elimination of frivolous and costly tort litigation, and the ability of insurers to use the most modern and accurate underwriting criteria. NAMIC PAC plays a critical role in the success of the property/casualty insurance industry. NAMIC members conduct business in a heavily regulated environment, and it is therefore important for us to engage and strengthen our relationships with public officials who shape the public policies that impact NAMIC's member companies and policy holders. Finally, I would also like to take a moment to recognize and welcome the new NAMIC PAC Chairman, Mike Prandi, Chief Insurance Operations Officer of Westfield Insurance Company. It has been a pleasure for me to serve as the NAMIC PAC Chairman and I look forward to continuing to serve as a Board of Trustee member. Furthermore, I look forward to having Mike lead us in 2019 as NAMIC PAC reaches even greater heights. We couldn’t have reached these milestones without your efforts and personal investments into the industry. Thank you for your continued support – together we will continue to make a difference! Here’s to 2019! Dan Ferris VP, General Counsel & Corporate Secretary SECURA Insurance NAMIC PAC Chairman, 2018 2018 ELECTION CYCLE 3 ACCOMPLISHMENTS Thanks to your continued efforts, we are able to provide significant support to our allies in Congress and the state legislatures. NAMIC PAC could not have done this without your support and involvement. Below are highlights of the successes impacting NAMIC members: Secured inclusion of NAMIC’s top tax reform priorities Defeated multiple measures across the states to 1 in historic tax cuts package. The law maintained the 9 restrict underwriting freedom including Virginia and tax code’s conformity with our industry’s regulatory California, additionally assisting the Alaska insurance model and accounting principles to the benefit of industry in securing the passage of legislation to reform NAMIC members while slashing the corporate tax rate the law on insurer use of credit-based insurance scoring from 35 to 21 percent. on policy renewals. Prevented the administration from simply signing Worked with lawmakers for them to introduce 2 the US-EU Covered Agreement “as is,” and instead 10 legislation to both abolish and reform the Federal secured a powerful policy implementation statement Insurance Office created by Dodd-Frank, which has reiterating the US commitment to the state-based frequently operated outside its jurisdictional bounds, system of insurance regulation. and secured bipartisan passage of reform legislation to drastically reduce scope of the office out of the Stopped the NAIC from moving forward with increased Financial Services Committee. 3 capital requirements for insurers to offset the changes in collateral requirements for foreign reinsurers Assisted industry partners and NAMIC State necessitated by the US-EU Covered Agreement. 11 Legislators of the Year to pass landmark “Hands Free Georgia” distracted driving legislation that prohibits Led the effort alongside industry partners to defend holding an electronic device such as a mobile phone 4 against New Jersey and New York bad faith legislation or tablet while driving. that would establish a cause of action without the need to establish any pattern of practice. Helped ensure House passage of a long-term flood 12 insurance authorization bill that included a host of Supported and secured multi-industry support for an NAMIC-backed reforms, including those designed to 5 NCOIL national model bill on towing reform that will align rate with risk and increase private involvement curtail many of the abusive practices that drive costs in the flood market. to insurers and their policyholders. Worked closely with state advocacy partners in Secured passage into law the Disaster Recovery and 13 California to defeat or amend 17 wildfire related 6 Reform Act. The new law, which NAMIC spearheaded insurance bills that would have fundamentally the BuildStrong Coalition in crafting, drastically altered insurance underwriting, coverage and claims changes the way the nation will prepare for disasters practices in the state. and represents the most significant change to disaster policy since the passage of the Stafford Act in 1988. Established NAMIC as the industry leader on the 14 topic of automated vehicles, releasing two white Worked to see follow-on international legislation designed papers, appearing before congressional hearings held 7 to rein-in U.S. representatives engaged in international by both the House Transportation and Infrastructure insurance negotiations pass the Financial Services and Financial Services Committees, and being heavily Committee, and later the House, by a landslide vote. involved in shaping AV legislation under consideration by Congress. Helped pass into law the first piece of legislation 8 designed to bring more oversight to the international insurance standard-setting process. NAMIC PAC 4 TOP TWENTIES OF 2018 Top 20 Property/Casualty Conference Contributing Companies 1 Auto-Owners Insurance Group $60,922 2 Pennsylvania Lumbermens Mutual Insurance Company $24,552 3 Ohio Mutual Insurance Company $20,542 4 Western National Mutual Insurance Company $20,230 5 Harford Mutual Insurance Company $20,103 6 Mutual of Enumclaw Insurance Company $18,915 7 Pioneer State Mutual Insurance Company $17,975 8 Preferred Mutual Insurance Company $16,805 9 SECURA Insurance, A Mutual Company $14,812 10 Columbia Mutual Insurance Company $14,320 11 Norfolk & Dedham Mutual Insurance Company $13,706 12 Frankenmuth Mutual Insurance Company $12,156 13 Merchants Mutual Insurance Company $11,150 14 Westfield Insurance Company $10,435 15 Lititz Mutual Insurance Company $10,295 16 Copperpoint Mutual Insurance Company $10,063 17 Motorists Mutual Insurance Company $7,500 18 Brotherhood Mutual Insurance Company $6,700 19 Franklin Mutual Insurance Company $6,500 20 Quincy Mutual Fire Insurance Company $5,800 NAMIC PAC 5 TOP TWENTIES OF 2018 Top 20 Farm Mutual Conference Contributing Companies 1 Fairmont Farmers Mutual Insurance Company $9,750 2 Germania Farm Mutual Insurance Association $8,750 3 Farmers Protective Mutual Insurance Company $6,250 4 Heartland Mutual Insurance Company $5,400 5 Mound Prairie Mutual Insurance Company $4,875 6 Farmers Mutual Insurance Association of Hull $4,025 7 Friends Cove Mutual Insurance Company $3,600 8 Loudoun Mutual Insurance Company $3,453 9