Insurance Companies, and Agents Spent Millions on Congressional Races
Insurance companies spent over $31 million, split almost evenly between Democrats and Republicans, in the recent mid term elections. This is about the same as they spend in the last mid term election cycle, in 2006. (In that election, however, they were 2 to 1 in favor of the republicans.) These numbers do not include money spent on lobbying, which is estimated at over $120 million so far this year. As a Boston personal injury lawyer, I see everyday how this money trickles down to have an adverse effect on clients who are the victims of an injury.
Independent insurance agents contributed more than ever before to federal Congressional races, declaring a 93% success rate. We don’t have the breakdown for Massachusetts Congressional races, but it doesn’t matter. Money given to federal legislators influences federal law, which, of couse, affects us here in Massachusetts. The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) is a political action committee, called InsurPac, which encourages members to contribute to the PAC so that the PAC can distribute the money strategically.