What Is the American Insurance coverage Affiliation (AIA)?
The American Insurance coverage Affiliation (AIA), integrated in 1866, was once a number one assets and casualty insurance coverage (P&C) business group. In early 2019, the AIA merged with the Assets Casualty Insurers Affiliation of The united states (PCI) to shape the American Assets Casualty Insurance coverage Affiliation (APCIA).
The P&C insurance coverage business is thought of as part of the monetary sector of the inventory marketplace and comprises many massive insurance coverage firms.
Key Takeaways
- The American Insurance coverage Affiliation (AIA) merged with the Assets Casualty Insurers Affiliation of The united states (PCI) in 2019 to shape the American Assets Casualty Insurance coverage Affiliation (APCIA).
- The APCIA represents firms at the state and federal point via tracking law.
- Â In combination, the PCI and AIA constitute over 1,300 member firms that write over $354 billion in annual premiums.
How the American Insurance coverage Affiliation (AIA) Labored
The American Insurance coverage Affiliation (AIA) represented firms at the state, federal, and global scope via tracking law on each and every point. It served as a useful resource for policymakers, the media, and the general public on sure insurance coverage problems. The AIA had native illustration in each and every state, regional workplaces in key places all over the rustic, and a headquarters in Washington, D.C. The AIA contributed to nationwide development codes, freeway protection, and the enactment of the Terrorism Chance Insurance coverage Act in 2002.
The serve as of the AIA and the following APCIA is to offer protection to and toughen its contributors. The AIA Board of Administrators mobilized business assets in quite a lot of insurance coverage fields to lend a hand with particular problems. The AIA member firms had on-line get admission to to new rules, announcements, and rules. Participants additionally gained get admission to to the latest knowledge assets, advert hoc research, and felony analysis gear.
The AIA member firms collectively evolved legislative, judicial, and regulatory priorities. The AIA supplied contributors with toughen within the courtroom device via its felony division. It facilitated conferences between particular person member firms and regulatory officers when company-specific problems arose and wanted answer.
The AIA custom designed day by day studies that associated with followed rules and division announcements. It had a regulatory database and a supplemental Enhanced Legislative Seek, which allowed its contributors to seek for all insurance-related law via any aggregate of insurance coverage problems within the AIA database. Any other document that the AIA produced associated with newly enacted law via factor. The AIA generated a state-level report back to summarize choose assets and casualty insurance coverage problems, rules, and communications.
American Insurance coverage Affiliation (AIA) vs. Assets Casualty Insurers (PCI)
In combination, the newly shaped American Assets Casualty Insurance coverage Affiliation (APCIA) represents just about 60% of america assets and casualty (P&C) insurance coverage marketplace. Earlier than the merger, Assets Casualty Insurers Affiliation of The united states (PCI) had 1,000 member firms whilst the American Insurance coverage Affiliation (AIA) had 350 firms. The 2 blended duvet firms that write greater than $354 billion in annual insurance coverage premiums. David Sampson, the present CEO of APCIA, was once up to now the CEO of PCI from 2007 till the merger.
The merger of the AIA and PCI leaves just one different main group representing P&C insurers in the USA. The Nationwide Affiliation of Mutual Insurance coverage Firms (NAMIC) has 1,400 member firms that write $313 billion in annual premiums, and it accounts for 30% of the marketplace. 
