WSIA PAC FAQs
Q. What resources can I use to educate others in the surplus lines industry?
A. WSIA has prepared a brief presentation and a brochure that both cover the basics of WSIA PAC and Political Action Committees in general. WSIA also created a "Rules of Thumb" guide for handling FEC requirements. A sample PAC letter from company principles to key employees is available upon request. You can also learn more about the PAC in the 2020 Annual Report.
Q. Can WSIA just use my dues for PAC contributions?
A. No. The WSIA PAC relies on individual contributions. WSIA dues and corporate contributions, by Federal law, cannot be contributed to the WSIA PAC. WSIA does support the administrative expenses of the PAC, and your contributions directly support candidates for Federal office.
Q. Why did WSIA form a federal PAC?
A. As it became apparent that the surplus lines tax and compliance problems could not be fixed at the state level, it became necessary to look to the federal government. The increasing attention of the U.S. Congress to financial and insurance regulation makes a federal PAC a necessity.
Q. What laws govern WSIA PAC contributions?
A. The Federal Election Commission (FEC) administers and enforces the Federal Election Campaign Act (FECA) - the statute that governs the financing of federal elections. The duties of the FEC, which is an independent regulatory agency, are to disclose campaign finance information, to enforce the provisions of the law such as the limits and prohibitions on contributions, and to oversee the public funding of Presidential elections. For more information visit www.fec.gov.
Q. Is a PAC contribution better than my individual contributions?
A. Yes. WSIA PAC channels resources into congressional races that will have the most impact on the surplus lines industry. If small contributions are pooled together and made as a PAC contribution they will be large enough to be noticed. If the contribution comes from a PAC with an identifiable set of issues, such as the WSIA PAC, the Senator or Representative has a clear picture of the interests and concerns involved. WSIA PAC monitors those candidates who are important to the surplus lines industry.
Q. Why should I participate in WSIA PAC?
A. It is important for the future of our industry that we make ourselves heard in the political process.
Q. Does my personal contribution to WSIA PAC really make a difference?
A. Acting alone, your influence can be limited. But a contribution to WSIA PAC gives you an effective way to support candidates for office who will change insurance regulation for the better and improve the opportunities to be an insurance professional.
Q. Which candidates are supported by the WSIA PAC?
A. Again, the WSIA PAC channels resources into congressional races that are anticipated to have the most potential impact on the surplus lines industry, with the advice and counsel of Faegre Baker Daniels in Washington D.C. Reports of PAC contributions to congressional candidates are available to WSIA members by contacting John Meetz at 816.741.3910 or [email protected].
Q. How can member companies get involved in WSIA PAC?
A. Any individual can become a PAC participant by simply writing a personal check to the WSIA PAC. WSIA member companies can encourage senior employees to contribute by completing the prior approval form allowing the WSIA PAC to solicit contributions.
Q. Is my PAC contribution tax deductible?
A. No, contributions to this or any other PAC are not tax deductible.
Q. Why should I join WSIA PAC?
A. Because our industry is currently under attack by regulators who would impose burdensome regulation upon the surplus lines industry and create state-run insurance mechanisms that would compete with surplus lines insurance. Combining the hard work of the WSIA government affairs staff at the federal, state and local levels with PAC contributions provides the best positioning for WSIA and its member companies.
Q. To whom do I make the check payable?
A. WSIA PAC
4131 N. Mulberry Dr., Suite 200
Kansas City, MO 64116
Contributors who wish to make a contribution to the WSIA PAC via check may submit this form.
Q. Who should I contact with questions about the WSIA PAC?
A. John Meetz
WSIA, State Relations Manager