APCIA Sets Priorities for 2024, Aiming to Tackle Key Insurance Industry Challenges

The American Property Casualty Insurance Association (APCIA), a leading trade group for the home, auto, and business insurance sectors, has outlined its strategic focus for 2024. APCIA plans to proactively engage in nine high-priority areas, as well as address ongoing challenges in the property-casualty insurance industry. Stef Zielezienski, the association’s executive vice president and chief legal officer, emphasized the need to combat legal system abuses, which impact insurance affordability and the viability of businesses.

1. APCIA’s nine priority areas for 2024 include:

2. Curbing legal system abuse in collaboration with the broader business community.

3. Supporting risk-based pricing, rating, and underwriting tools.

4. Focusing on innovation, regulatory modernization, talent development, and economic empowerment in the insurance industry.

5. Addressing challenges in catastrophe insurance, including implementing recommendations from the federal Wildland Fire Mitigation & Management Commission Report.

6. Ensuring the sustainability and soundness of the state-based workers’ compensation system.

7. Protecting insurance contract certainty against legislative, regulatory, or judicial overreach.

8. Addressing cost drivers in automobile insurance.

9. Preserving a sound taxation structure for property-casualty insurance.

10. Advancing international trade, market access, and regulatory modernization.

Furthermore, APCIA will address issues that span multiple priority areas. These include opposing restrictive ESG-related mandates, countering false narratives about the insurance industry, and identifying risks of government intrusion that could affect insurance affordability and availability for consumers. Zielezienski’s statements underscore APCIA’s commitment to tackling broad and complex issues facing the industry in the coming year.