David Sampson, president and CEO of APCIA
An influential insurance body has warned American legislators not to impose retroactive insurance payments as it could destabilise the insurance sector, dubbed ‘one of the nation’s essential services’.
‘It will be increasingly important that insurers are allowed to deploy new technologies such as drones, mobile applications, and telemedicine for workers’ compensation claims without running afoul of regulatory barriers.’ David Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA).
· Forced retrospective payments could threaten stability of insurance sector
· Requests for flexibility around premium due dates flow in as crisis deepens
· Regulators urged to revisit rules on drones and other tech for workers comp
· Call to relax communications requirements to aid information dispersal
The insurance industry must be allowed to play its part as an essential service to the nation as APCIA calls on US legislators to be aware of “several important issues that warrant immediate consideration”.
APCIA, Coronavirus, Insurance, Reinsurance, Property & Casualty, David Sampson, North America