Annual Report 2019 Namic
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2019 NAMIC PAC ANNUAL REPORT TABLE OF CONTENTS WORD FROM THE CHAIRMAN ................................................................ 2 2019 ELECTION CYCLE ACCOMPLISHMENTS ........................................ 3 NAMIC PAC TOP 20 ............................................................................... 4 PARTICIPATING COMPANIES .................................................................. 6 ISSUES & COMMITTEES ........................................................................ 9 NAMIC PAC CLUB MEMBERS ............................................................... 11 NAMIC PAC CONTRIBUTIONS .............................................................. 29 NAMIC PAC TRUSTEES 2019 MEMBERSHIP ........................................ 35 FACTS ABOUT CCP .............................................................................. 36 2019 CCP PARTICIPANTS .................................................................... 37 NAMIC PAC OVER THE YEARS .............................................................. 44 2 On behalf of NAMIC PAC, the Board of Trustees, and staff, I am thrilled to present this report on NAMIC PAC activities for 2019. The report will update you on how another record-breaking year by NAMIC PAC helped the mutual property/casualty insurance industry successfully navigate a WORD transitional year in Washington, D.C., and state capitals across the nation. I’m proud to announce for the first time in NAMIC history PAC fundraising, we broke the $600,000 FROM THE barrier, ending with a total raised of $607,896. NAMIC is well positioned at the halfway point of the 2020 cycle to reach the 2020 election cycle fundraising goal of $1,225,000. Through NAMIC PAC, CHAIRMAN NAMIC supported a bipartisan slate of more than 200 federal and state candidates as we adjust to the realities of divided government. 2019 was a year of transition in D.C., with the House flipping to the Democrats and both parties "WITH YOUR occasionally distracted by those controversies that dominate news cycles but don’t matter to the lives of every day Americans. Thanks to relationships, both new and old, fostered by the PAC, SUPPORT WE WILL NAMIC was able to cut through the noise and keep members of both parties updated on the CONTINUE TO BUILD priorities embraced by our industry. While much of 2019 was dedicated to playing defense, NAMIC stayed on the offense, racking up bipartisan wins like the reauthorization of the Terrorism Risk RELATIONSHIPS..." Insurance Act and the National Flood Insurance Program without lapses. While the focus is on November 3, 2020 also will see vital legislation debated in D.C. and across the country. In Washington, NAMIC is pushing back against legislation that would prevent the use of credit scores in underwriting auto insurance policies and legislation that would prohibit private passenger automobile insurers from using actuarially proven underwriting factors, such as level of education, occupation, employment status, and credit score. While non-starters in a Republican Senate, we must prepare for any eventuality that legislation passed by this House would likely be part of an early 2021 legislative package for a Democratic White House and Chuck Schumer-led Senate. Work done this year in D.C. and in states will put us on stronger footing in the future. NAMIC PAC remains one of the largest PACs in the financial services industry and is positioned to effectively impact the 2020 election cycle. Many hours have been invested by the Board and staff to create a plan to ensure legislative champions for the property/casualty insurance have the resources to win in 2020 – a roadmap we’re confident will lead us successfully through November 3 and put us in position for a stronger 2021. NAMIC PAC has seen more than a decade of continued success. As we plan how to continue that success, I am excited to handoff the chairmanship of NAMIC PAC to Jake Black of CFM Insurance, Inc. While I’ll no longer be chairman, I will continue to work with you to ensure the results match our aspirations because as our old friend Ben Franklin said, "Well done is better than well said." I look forward to seeing you in Boston in September and don’t hesitate to reach out if you find yourself in north central Ohio. Mike Prandi Chief Operating Officer Westfield Insurance Company NAMIC PAC Chairman, 2019 2019 ELECTION CYCLE 3 ACCOMPLISHMENTS Thanks to your continued efforts, we provided significant support to our allies in Congress and state legislatures. Below are highlights of some of our successes. Worked with Congress to extend the Terrorism Risk Secured bipartisan and bicameral introduction of H.R. 1 Insurance Program for seven years on a bipartisan basis 8 1375, the Provide Accurate Information Directly Act, with no significant changes. This ensures a competitive to provide for transparency of Medicare secondary marketplace, protects our economy from the threat of payer reporting information under Medicare Part C. terrorism, and keeps our communities growing. Led efforts with House leadership to include NAMIC- Successfully led congressional oversight efforts that 9 authored language in H.R. 1595, the SAFE Banking 2 resulted in the Department of Treasury refusing to Act, that would provide the needed safe harbor for accept an ill-fitting international capital standard that insurance companies engaging with legal cannabis- would be harmful to NAMIC member companies. related businesses and consumers. The measure passed the House in September 2019. Successfully prevented the NAIC from moving forward 3 with increased capital requirements for insurers Successfully led an educational campaign to stop H.R. to offset the changes in collateral requirements 10 3693, the Prohibit Auto Insurance Discrimination Act, for foreign reinsurers necessitated by the U.S.-EU from advancing out of the House Financial Services Covered Agreement. Committee. This bill essentially would have outlawed all non-driving factors from being considered in the underwriting process to the detriment of consumers Worked with the House and Senate to see legislation and policyholders. 4 reforming the National Flood Insurance Program pass unanimously by the House Financial Services Committee, and Congress extending the NFIP through Secured 17 observances of “Resiliency Week” around September 30, 2020 – the longest program extension 11 the country, bringing to the forefront conversations since 2012. about pre-disaster mitigation and how states can use newly available federal funds to assist in hardening our communities. Successfully worked to introduce legislation in both the 5 House and Senate to abolish the Federal Insurance Office created by Dodd-Frank that has frequently operated Led a multi-year effort in Florida to pass the assignment outside its jurisdictional bounds and has the potential to 12 of benefits reform which succeeded in 2019. The become a domestic regulator of the insurance industry. measure ends the one-way attorney fee loophole on homeowners claims that has caused a drastic rise in litigation over the last decade. Continued to establish NAMIC as the industry leader 6 on the topic of automated vehicles by authoring white papers, appearing before congressional hearings held Secured the repudiation of the ALI’s Restatement of the by both the House Transportation and Infrastructure 13 Law, Liability Insurance in nine states and the National and Financial Services committees, and playing a Council of Insurance Legislators. The RLLI’s massive key role in helping shape the first comprehensive AV overreach into making law instead of its stated purpose legislation. to reflect the law is now transparent to legislators and courts alike, with ongoing efforts by NAMIC in 2020. Led industry-wide efforts to implement the Disaster 7 Recovery Reform Act – transformative disaster legislation Defeated multiple bills seeking to restrict insurers’ use crafted by NAMIC to protect the nation’s homes from a 14 of underwriting tools. rising number of catastrophes. NAMIC PAC 4 TOP 20 OF 2019 Top 20 Property/Casualty Conference Contributing Companies 1 Auto-Owners Insurance Group $65,251 2 Western National Mutual Insurance Company $ 2 9 ,118 3 Ohio Mutual Insurance Company $22,452 4 Harford Mutual Insurance Company $22,050 5 Pennsylvania Lumbermens Mutual Insurance Company $21,726 6 Preferred Mutual Insurance Company $20,782 7 Mutual of Enumclaw Insurance Company $20,676 8 SECURA Insurance, A Mutual Company $ 17, 510 9 Pioneer State Mutual Insurance Company $16,150 10 Norfolk & Dedham Mutual Fire Insurance Company $15,390 11 Columbia Mutual Insurance Company $13,392 12 Frankenmuth Mutual Insurance Company $ 11 , 9 3 3 13 Lititz Mutual Insurance Company $11,575 14 Westfield Insurance Company $10,950 15 Merchants Mutual Insurance Company $9,450 16 General Reinsurance Corporation $8,875 17 West Bend Corporation $8,750 18 Brotherhood Mutual Insurance Company $8,400 19 Shelter Mutual Insurance Company $7,850 20 Greater New York Insurance Company $6,500 NAMIC PAC 5 TOP 20 OF 2019 Top 20 Farm Mutual Conference Contributing Companies 1 Fairmont Farmers Mutual Insurance Company $11,550 2 Heartland Mutual Insurance Association $6,800 3 Farmers Protective Mutual Insurance Company $5,650 4 CFM Insurance, Inc. $5,100 5 First Maxfield Mutual Insurance Association $5,100 6 Germania Farm Mutual Insurance Association $4,995 7 Mutual of Indiana Insurance Company $4,350 8 Mound Prairie Mutual Insurance Company $4,225 9 Barton Mutual Insurance Company $3,375 10 Friends Cove Mutual Insurance