While there are few direct threats to the property/casualty industry in the current U.S. Congress, P/C insurers are advised to remain vigilant regarding attempts to alter antitrust exemptions insurers currently enjoy under the McCarran-Ferguson Act.
At the recently concluded American Association of Insurance Services Main Event conference, Thomas Litjen, VP of federal government relations for the
Moreover, changes to federal health policy could the impact P&C insurers in other ways. “We can expect major, if not tectonic, changes in cost-shifting in this area,” he said. “I predict some real adverse impacts on our industry.”
Litjen said other regulatory issues of concern for insurers include the delay in the appointment of a voting insurance industry representative to the newly-created federal Financial Stability Oversight Council and the seemingly eternal struggle to craft a long-term extension of the National Flood Insurance Program.