Social Inflation and Lawsuit Abuse
American Family will tackle lawsuit abuse by addressing questionable attorney practices that drive up costs for consumers and clog our nation’s court system. American Family’s focus is a balanced civil justice system – one that is fair to all participants, promptly resolves legitimate claims, and increases certainty and predictability for all litigants. We will continue to work with policymakers, industry leaders, consumers, and the business community to enact meaningful civil justice reforms across the country.
Contract Certainty
Preserving contracts between two parties is a bedrock principle of our society and a well-functioning market economy. American Family will work to prevent retroactive coverage proposals related to the pandemic – such as business interruption, workers compensation, or regulatory mandates. Retroactively rewriting contracts for products that were never sold or priced could have dramatic repercussions for everyone – in addition to the broader economy and supply chain.
Evolution of Catastrophe Insurance
American Family will continue to be a leading voice on the industry’s catastrophe insurance evolution, advocating for policies that reform our nation’s response to natural and man-made disasters to better protect our communities and lessen the burden on taxpayers. We are focused on addressing the challenges of catastrophe insurance, including the government’s role, private market development, risk mitigation, resilience, and sustainability.
Risk-based Pricing and Social Equity and Inclusion
American Family is committed to supporting the industry’s efforts to create a more diverse, inclusive workforce; continuing to ensure all customers are treated fairly when it comes to home, auto, and business insurance; and financially empowering individuals, businesses, and communities. Risk-based pricing is the fairest way to match rate to risk, so American Family will continue working with policymakers to address the underlying issues impacting insurance affordability and will defend against policies that attempt to eliminate actuarily sound risk-based rating factors.
Innovation and Regulatory Modernization
American Family will continue to work with regulators to ensure our industry has the flexibility needed to adapt to a rapidly changing environment. We will also work with regulators to modernize commercial and personal lines rates and forms and ensure privacy and data uniformity to preserve protections without compromising business utility.
Improving and Protecting State-Based Workers Compensation Insurance
American Family will continue our work to preserve a framework that ensures high-quality care for injured workers, encourages those employees to return to work, streamlines the dispute resolution process and contains costs.
Additional Advocacy Issues
We will also continue our work to address issues that impact the affordability and availability of auto insurance; increase international trade and market access by restricting proposals that limit cross-border reinsurance and reducing tariffs that increase costs; and maintain a sound taxation structure.