NAII, ALLIANCE MERGE, FORM P/C INSURERS ASSOCIATION OF AMERICA.The National Association of Independent Insurers and Alliance of American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Insurers voted Jan. 7 to merge and form a new trade association, the Property Casualty Insurers Association of America. Member companies of the new association write a total of $154 billion in annual premium, or about 40 percent of the nation's property/casualty insurance. "This is the most significant development in unifying the industry to occur in decades," said Jack Ramirez, former NAII NAII National Association of Independent Insurers president who was named president and chief executive officer of the new association. "The merger creates not just a bigger organization, but also a better one. Our expanded market share and membership base will make us more effective advocates for our members in Congress and in statehouses across the country." Ramirez had warned in November at the NAII's annual meeting that "time is running out" for a unified property/casualty industry association because of growing congressional support for federal involvement in the regulation of the business of insurance. He said both NAII and the Alliance have worked aggressively for reforms at the state level with some success, but "the debate is shifting in Congress from one of whether there should be federal intervention Federal intervention (Spanish: Intervención federal) is an attribution of the federal government of Argentina, by which it takes control of a province in certain extreme cases. Intervention is declared by the President with the assent of the National Congress. to one of what form that intervention A procedure used in a lawsuit by which the court allows a third person who was not originally a party to the suit to become a party, by joining with either the plaintiff or the defendant. should take." He said the new association would "develop policy positions based on consensus in order to take into account the needs of all member companies - large and small, national and local, multi-line and niche." Rodger Lawson, the former president of the Alliance who was named executive vice president of the new association, said the merger would allow the association "to take advantage of economies of scale and provide a greater number of products and services to members of all sizes and types." The chairman of the new association's board of governors is Anthony Dickson, president of New Jersey Manufacturers Insurance Companies. Harvey Harvey, city (1990 pop. 29,771), Cook co., NE Ill., a suburb S of Chicago; inc. 1895. Its manufactures include steel castings, metal products, chemicals, machinery, and electronic equipment. Harvey has an oil research center. The city was founded by Turlington W. Pierce Pierce may refer to: Places
The board is composed of all 60 former members of both the NAII and Alliance boards. It is to appoint a committee to review the size and composition of the new bard and recommend how its structure and procedures should be changed. The new association will be headquartered in NAII's former offices in Des Plaines Des Plaines, city, United States Des Plaines (dĕs plānz), city (1990 pop. 53,223), Cook co., NE Ill., a suburb of Chicago on the Des Plaines River; inc. 1925. Among its manufactures are chemicals and electronic equipment. , IL. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion