NAMIC PAC FAQ
What is NAMIC PAC?
NAMIC PAC is a federal Political Action Committee (PAC). A PAC enables employees or members of groups – such as NAMIC – to pool their political contributions and support candidates who will help the organization achieve its legislative objectives. NAMIC PAC supports pro-industry, pro-business candidates for political office who share our industry’s philosophies.
Why does NAMIC need NAMIC PAC?
Federal law prohibits corporate contributions to candidates for congressional office (state laws vary.) NAMIC may not use membership dues or other NAMIC revenue to help support quality candidates. Your personal contribution to NAMIC PAC creates NAMIC’s only opportunity to provide financial support to pro-industry political candidates. The PAC exists to protect the interests of the property/casualty insurance profession. NAMIC also needs NAMIC PAC to compete with the larger PACs of trial lawyers, big labor and other special interest groups that contribute millions of dollars annually to promote more government regulation and laws that will lead to additional legal liabilities.
Why should I support NAMIC PAC?
If you’re in business, you’re in politics. The reality is that politics impact every facet of our lives - especially in the insurance industry. Insurance companies can no longer choose to be political spectators. It is important that we all participate in the political process. The PAC will give you and your company the opportunity to join your voice with thousands of other insurance professionals across America. NAMIC PAC supports candidates who support legislation that is important to your business and is consistent with NAMIC’s mission and goals: to promote a financially sound, competitive and private insurance market. If we do not have the support to elect pro-industry, pro-business candidates to Congress, our fate will be in the hands of the other interest groups who do not share NAMIC’s view on legislation and regulation.
How are the contributions to candidates determined?
NAMIC PAC is governed by a Board of Trustees comprised of a range of top executives from large and small companies that represent the scope of NAMIC’s diverse membership. Trustees discuss important legislative issues facing the membership as well as oversee all PAC contributions and fundraising efforts. The Trustees welcome contributor suggestions on giving strategy.
How much should I give to NAMIC PAC?
If your business is important to you, your family, your employees and your community, you should contribute as much as possible. Contributions cannot exceed $5,000 annually per individual. There are four suggested contribution levels and each member company has suggested goals (listed below).