WSIA PAC builds on a record of success
Since its inception, this political action committee has raised more than $1.7 million to support legislative and regulatory efforts.
Following a pandemic-impacted year in 2020, the Wholesale & Specialty Insurance Association’s PAC Committee raised a record $201,951 during 2021 and has big plans to leverage that momentum through 2022.
The WSIA PAC Committee was established in 2005. It is critical to the association’s legislative and regulatory advocacy efforts. The PAC Committee supports candidates whose philosophies are consistent with the goals of WSIA and its members. The committee also aims to help the association educate members of Congress about the importance and impact of the wholesale, specialty and surplus lines industry on the nation’s economy, helps make WSIA an influential voice on the industry’s complex insurance issues and offers financial support to candidates whose goals are consistent with those of WSIA and its members.
The WSIA PAC Committee’s 2022 contributions goal is $250,000, and WSIA PAC Committee Chair and Chief Distribution Officer, Principal, at Brown & Riding, Cristi Carrington, thinks it’s achievable.
“Our industry is growing very quickly right now,” Carrington says. “My colleagues and peers understand that it’s important for us as professionals to invest in the industry, which is exactly how we should think of a PAC contribution.”
The WSIA PAC is a key element of WSIA’s overall advocacy strategy. Since its inception, the WSIA PAC has raised more than $1.7 million. Carrington said that it’s not just rhetoric to remind members that every contribution is important.
“WSIA’s PAC contributions must come from individuals, not member firms, and the largest single amount that an individual can contribute each year is $5,000, so reaching our annual goals takes all of us,” she says. “If every attendee here at Annual Marketplace contributed an additional $20, we would meet our 2022 goal this week.”
WSIA Senior State Relations Manager John Meetz describes how important every single contribution has been to reaching lawmakers.
“The most that a Congressional candidate can receive from a PAC like ours each year is also $5,000,” Meetz says. “It’s important for contributions, large or small, to come from a large number of individuals because it demonstrates broad support and a larger voice for our industry in Washington D.C.”
The growth of the WSIA PAC in recent years was critical to withstanding the threats posed by retroactive business interruption legislation proposed in the wake of the pandemic, but Meetz said that improvements in filing procedures for surplus lines brokers, and uniform eligibility requirements for carriers, are equally important, and WSIA has made incremental progress on issues like these, thanks in part to the WSIA PAC and WSIA’s ability to educate elected officials.
Carrington said that in 2021, 380 individuals supported the PAC and 146 were first-time contributors. She said that of those contributors, 47 were U40 members, which demonstrates commitment from early-career professionals, but she noted that there’s definitely an opportunity for growth among the U40 demographic. “Contributing to the PAC is an investment in the industry’s long-term strength,” she said. “It speaks volumes to have their engagement, and I would love to see that number increase over time.”
WSIA members can contribute to the PAC on-site during Annual Marketplace by looking for QR codes on signs and tables that link directly to the contribution site or visit the WSIA Information & Courtesy Desks for assistance from a WSIA team member. Anyone who contributes during Annual Marketplace will be entered to win a bottle of Caymus Special Selection or Silver Oak Cabernet Sauvignon. Additionally, the PAC firm competition awards two wholesale broker member firms and two insurance market member firms for employee participation. Meetz said that the top firms will be awarded $2,000 to designate to the charity of their choice.
“Our segment of this industry is complex, and we need a strong PAC to help the WSIA team advocate on our behalf,” Carrington said. “A personal contribution to something that impacts your every day makes sense to me, and I would encourage each of us to consider that and encourage our colleagues to do the same.”
Contribute online at www.wsiapac.org.
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