Big “I” VP Analyzes Possible Impacts of Election on P&C Insurance

Charles Symington, Big “I” senior vice president for external, industry & government affairs recently talked to Insurance Journal about what the mid-term elections could mean to you.

Kicking off the discussion, Symington described the new landscape where each party has claimed some turf.

“I would almost call the election a tale of two races. You saw at the very least a blue rising tide in the House, and it looks like at the end of the day Democrats will most likely gain close to 40 seats in the House of Representatives, right now 38, 39 is probably the best guess. So that will give them a comfortable margin in the House of along the lines of a 16, 17 seat majority,” said Symington.

“And in the Senate, like I said a tale of two races, you see Republicans picking up two seats, subject to a runoff in Mississippi where the Republican is expected to win. So, the margin in the Senate for Republicans will be 53/47. They’ll have that three-seat cushion.”

The agency system lobbyist then added some color: “I will say while there may not have been a blue wave, although one could probably reasonably argue there might have been one in the House, there certainly was a green wave, and Democrats took advantage of that. In terms of the fundraising, Democrats had a very significant advantage in the House. A lot of times money talks, and I do think that … was a contributing factor.”

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