What’s Alliance of American Insurers (AAI)
The Alliance of American Insurers (AAI) was once a coalition consisting basically of property-casualty insurance coverage carriers, shaped as political foyer for this a part of the insurance coverage trade. It pursued actions geared toward furthering its targets with each politicians and the broader public.
In 2004, the AAI and Nationwide Affiliation of Unbiased Insurers (NAII) merged to shape a new group referred to as the Belongings Casualty Insurers Affiliation of The us (PCI), which on the time reportedly represented greater than 40 % of the marketplace for estate and casualty insurance coverage.
PCI therefore merged with the American Insurance coverage Affiliation (AIA) in January 2019 to shape the American Belongings Casualty Insurance coverage Affiliation (APCIA), which represents just about 60 % of carriers within the estate casualty insurance coverage trade in the USA.
Working out The Alliance of American Insurers (AAI)
PCI’s function was once to recommend on behalf of its contributors in all 50 states and on Capitol Hill, whilst holding contributors present on data crucial to their companies. The group retained a lobbyist in each and every state at the side of 12 regional managers in key state capitols. It tracked expenses and legislation impacting estate insurance coverage and casualty insurance coverage—on each a state and federal stage—and equipped data to its contributors to assist them make knowledgeable industry selections.
Key Takeaways
- The Alliance of American Insurers was once a lobbying staff for the property-casualty trade.
- In 2004, the alliance merged with the Nationwide Affiliation of Unbiased Insurers to shape the Belongings Casualty Insurers Affiliation of The us (PCI).
- In 2019, PCI merged with the American Insurance coverage Affiliation to shape the American Belongings Casualty Insurance coverage Affiliation (APCIA).
- Right through those mergers, the whole function has remained the similar, which is to recommend on behalf of the property-casualty insurance coverage trade.
The APCIA has widely identical ambitions. It goals to leverage the considerable heft and succeed in of each its founding organizations to advertise and give a boost to non-public aggressive insurance coverage markets and the U.S. state-based regulatory device.
APICA is one among two nationwide associations. The opposite is the Nationwide Affiliation of Mutual Insurance coverage Firms, which represents the valuables/casualty trade.
On the time in their merger, each PCI and AIA reportedly accounted for a vital chew of the valuables and casualty insurance coverage marketplace. PCI had 1,000 member corporations who had underwritten $220 billion in annual premiums—about 37 % of the house, auto, and industry insurance coverage marketplace within the U.S. In the meantime, AIA had 330 corporations as contributors, which in combination had underwritten $134 billion in premiums every 12 months.
