Election time … is it more blessed to receive?

This issue of Insurance Journal will come out the day before the nationwide elections. By the time you receive your magazine or get the opportunity to read it, the results will be in and you will know who won in all the key races from insurance commissioner to the Supreme Court candidates. But with all television ads and flyers in your mail from candidates not much information is provided about which candidates were the top financial beneficiaries in some of the key races or what industries give more to which party.

In this issue on page 10, an independent research group, The Center for Responsive Politics, provides a critical analysis of who are the biggest givers and those candidates who were most blessed to receive.

For example 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.

Life and health insurance interests are well represented among the top insurance donors as of Sept. 11. 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); Massachusetts Mutual Life ($647,000); Metropolitan 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); American 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 International Group ($334,000); Property Casualty Insurers Association of America ($326,000); Cigna Corp. ($317,000); and Northwestern Mutual ($315,000).

The top 10 recipients of insurance political donations (based on FEC data released Oct. 11) are Sen. Rick Santorum, R-Pa. ($416,000); Sen. Hillary Rodham Clinton, D-N.Y. ($340,000); Michael McGavick, Republican 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). Despite the apparent competitiveness of this election, the percentage of PAC money going to incumbents is the highest it has been since 1990, based on 18-month figures.

For the complete analysis, flip to Page 10, “Insurance political contributors favor Republicans.” This particular article may be a handy crib sheet for you to muse as you review who won the key spots in your home state and could provide an added view of the entire election from a totally different perspective.