A month before its annual meeting in Boston, the Property Casualty Insurers Association of America has lost a key member from the same city.

Liberty Mutual Group will no longer be a member of PCI, PC360 has learned. The third-largest P&C insurer in the U.S. confirmed its defection in an email, but did not indicate a reason why this decision was made. It continues to be a member of the National Association of Mutual Insurance Companies.

Marguerite Tortorello, senior vice president of public affairs for PCI tells PC360 Liberty Mutual notified the association, which represents more than 1,000 insurers, that it will resign in one year. 

“Liberty has been a highly-valued member and we wish them the best,” Tortorello says. 

“PCI is well positioned for the future with a strong balance sheet and a high performing staff,” adds Tortorello. “We will continue to focus on providing member driven advocacy, thought leadership, comprehensive compliance information, and exceptional service to our more than one thousand member companies to advance our mission of promoting and protecting the viability of a competitive private insurance market for the benefit of consumers and insurers.”
PCI's members, including Liberty Mutual for the time being, write over $190 billion in annual premium and occupy 32 percent of the U.S.homeowners market, 46 percent of the auto market, 38 percent of the commercial property and liability market and 41 percent of workers' compensation.
This is not the first time PCI has lost a large, influential carrier. Allstate gave notice and left the association in late December 2007, choosingto invest in in-house government relations.
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