Tuesday’s election has signaled the beginning of several possible changes to the P&C industry, including new faces in oversight committees and an expanding role for the Federal Insurance Office.

“We had a lot of change in some respects. We knew we were going to have a change in the house financial services committee with Mr. Bachus being termed out, and Mr. Hensarling tapped to take it, but people have been preparing for that,” said Leigh Ann Pusey, president and CEO of the American Insurance Association, referring to outgoing Chairman of the House Committee on Financial Services Spencer Bachus, (R-Al) and Jeb Hensarling (R-Texas) who will replace him.

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