Insurance political contributors favor Republicans
Insurance-related contributors to this year’s midterm Congres-sional races are favoring Repub-licans 2-to-1 over Democrats while the overall total given by insurance interests appears down from two years ago.
According to the non-partisan Center for Responsive Politics, insurance political action committees and individuals in the industry had given a total of $22.8 million to candidates in House and Senate races as of Sept. 11, with 66 percent or $15.1 million going to Republicans. Democratic candidates for federal offices have received about $7.5 million.
Overall, the industry’s contribution thus far to federal candidates is trailing 2004’s total, when insurance interests gave $36.3 million, CRP reports. CRP’s figures are based on data available from the Federal Election Commission as of Sept. 11.
But other industries are more than filling the gap as the CRP predicts this year’s federal election could cost about $2.6 billion by year’s end, making it the most expensive midterm election ever.
Compared to other groups, insurance ranks eighth in political giving, behind, among others, law firms, real estate, securities/investments and health care. Lawyers and law firms are responsible for the biggest sum–$89 million.
Top insurance contributors
Life and health insurance interests are well represented among the top insurance donors. According to the report, the top 10 contributors from insurance committees and individuals combined are AFLAC ($1.3 million); Blue Cross/Blue Shield ($1.1 million); National Association of Insurance and Financial Advisors ($964,000); Independent Insurance Agents and Brokers of America ($959,000); New York Life Insurance ($884,000); Massachu-setts Mutual Life ($647,000); Metropoli-tan Life ($627,000); American Financial Group ($558,000); Liberty Mutual ($535,000); and United Services Automobile Association Group ($480,000).
Rounding out the top 20 are St. Paul Travelers ($430,000); Amer-ican Council of Life Insurers ($417,000); General Electric ($404,000); Council of Insurance Agents & Brokers ($392,000); Zurich Financial Services ($381,000); Prudential Financial ($337,000); American Inter-national Group ($334,000); Property Casualty Insurers Association of America ($326,000); Cigna Corp. ($317,000); and Northwestern Mutual ($315,000).
Top recipients
CRP’s tally of top beneficiaries of insurance giving (as of Oct. 11) are Sen. Rick Santorum, R-Pa. ($416,000); Sen. Hillary Rodham Clinton, D-N.Y. ($340,000); Michael McGavick, Republilcan former Safeco Insurance executive running for Senate in Washington ($280,000); Sen. Ben Nelson, D-Neb., ($262,000); Sen. Mike DeWine, R-Ohio ($253,000); Sen. John Kyl, R-Ariz. ($241,000); Sen. Joseph Lieberman, I-Conn. ($239,000); Rep. Nancy Johnson, R-Conn. ($229,000); and Rep. Deborah Pryce, R-Ohio ($218,000).