WSIA PAC aims for record contribution goal

The WSIA PAC, formerly the NAPSLO PAC, is an increasingly important component of WSIA's legislative and regulatory advocacy efforts. The PAC provides education to members of Congress and offers an influential voice on some of today's most complex insurance issues. Additionally, it provides financial support to candidates who understand the interests of the surplus lines industry.

The WSIA PAC is positioned to finish 2017 with one of its most successful years since its formation in 2005, according to Bruce Kessler, WSIA PAC committee co-chair and division president, Westchester.  

“Last year was a record-setting year for contributions to the PAC, so the committee set a very ambitious contributions goal for 2017,” said Kessler. “We've made great progress toward reaching it and we're thrilled with the commitment we've seen members make.”

The PAC contributions goal for 2017 was set at $150,000. Kessler said that in addition to a higher overall goal this year, the PAC Committee has worked to increase the total number of contributions and the number of individual WSIA member firm employees who are participating in helping the PAC reach its objectives.

Since it was founded in 2005, 1,411 member individuals have contributed the PAC. Those contributions have been used to support candidates for federal office and to educate many others. The PAC can contribute up to $5,000 annually to any one candidate.

“I think it's really important for WSIA members to understand that the WSIA PAC can provide no more than $5,000 each year to any one member of Congress,” said Kathy Colangelo, WSIA PAC Committee Co-Chair and Executive Vice President, Hull & Co. “That level of support is not an extremely large dollar amount, but it is really a valuable contribution for a candidate. It also makes every individual contribution to the PAC very impactful. Many small contributions come together to make a significant difference and it's very valuable in Washington to be able to demonstrate that broad-based support from our members.”

Meeting with Members of Congress allows WSIA to strengthen its credibility with lawmakers. (Photo: Shutterstock)

Legislative Fly-In

WSIA's annual legislative Fly-In is another important part of the Association's outreach and education efforts in Washington D.C. Keri Kish, WSIA director of government relations, said that the 2017 Fly-In was a success both in terms of numbers of legislators and staff reached, and also in the effectiveness of the meetings.

The 2017 Fly-In was held May 11, and 35 WSIA members and staff, representing the Legislative Committee, Executive Committee and PAC Committee, met with 34 Members of Congress and/or their staff. Kish said that the members of Congress who were visited serve on either the House Financial Services Committee or the Senate Banking Committee, and a number of the Members serve on the respective subcommittees on insurance.  

“We always provide general surplus lines education and information as needed during meetings, but we are increasingly able to focus time during these visits on important issues impacting surplus lines,” said Kish. “The first topic we emphasized again this year was revision of the definition of private flood insurance to ensure surplus lines insurers are eligible to provide private market solutions to consumers with unique and complex flood risks. Our second area of focus was to emphasize the many successes of the Nonadmitted and Reinsurance Reform Act of 2010 and ask for Congress' continued support and protection of the NRRA.”

Kish said the group also touched on reform of the Foreign Account Tax Compliance Act (FATCA), asking members to eliminate unnecessary FATCA reporting for the property and casualty industry, and asked Senators for help in confirming nominees to the Board of the National Association of Registered Agents and Brokers (NARAB) to move toward implementation.

“Our meetings were really productive, and it was great to see how these in-person interactions can obviously continue to strengthen WSIA's credibility with lawmakers who are influencing insurance legislation,” Kessler said. “It was great to see that the members of Congress and the staff that we met with had a solid understanding of the industry and were engaged in discussions of our issues.”

Kessler added that one of the most important roles for the PAC is to educate members of Congress about how congressional decisions affect both WSIA members as well as their constituents at home, and personal meetings help reinforce that. He said that participating in a Fly-In meeting illustrated for him the importance of electing knowledgeable candidates, and that supporting them is a long-term investment in the industry.

“A robust PAC presence allows us to engage in these conversations and really capitalize on the resources that we have in place in Washington,” Kish said. “Going into meetings with members of Congress and being able to demonstrate the support of a large number of WSIA members behind or Regulatory Principles is really powerful.” Kish noted that as the PAC continues to grow, the Association is increasingly viewed as an important source of information on in Washington D.C.

Employees of WSIA-member firms can contribute to the PAC during Annual Marketplace at the PAC table in the Seaport Foyer. Colangelo said that contributions to the NAPSLO PAC must come from individuals and that supporting the PAC is an individual choice. WSIA members can learn more about the PAC and its work at www.wsiapac.org. 

The WSIA PAC Committee awarded special recognition to two members based on their employees' voluntary contributions to the PAC this year. The WSIA member firm with the most contributions to the PAC was All Risks, and the firm with the second highest total contributions was AmWINS.

“As we work to inform legislators about what our members do and how important this industry is to the overall U.S. economy, it is more important than ever that we have a strong PAC behind our message,” Colangelo added. “This industry is highly specialized, and the legislative and regulatory issues that our members face are complex. These meetings are imperative to our success.”