The president of the Property Casualty Insurers Association of America warned his membership they must prepare for a long campaign to ward off attacks by lawmakers who want to “micromanage” insurers.
In addition to the revenue pressures brought on by the nation's financial crisis, insurers face a policy and advocacy environment that is “the most challenging since the second World War,” said David A. Sampson, PCI's chief executive.
Speaking here at the organization's annual meeting, Mr. Sampson said the financial services industry is stressed and under greater scrutiny than at any time.
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