DANA POINT, Calif. — Insurers are “well-positioned” to help policyholders deal with Superstorm Sandy, according to the president and CEO of the Property Casualty Insurers Association of America.

During his opening address to the group's annual meeting in Dana Point, Calif., last week, PCI President and CEO David A. Sampson noted that the association had chosen its theme — “Risk and Resilience” — in February. “It looks very prescient given the events” that have unfolded since then, he said.

“I'm very confident insurers are well-positioned” to assist their policyholders in the wake of Sandy, he said. He pointed out that the meeting itself — held last week in Dana Point, Calif. — was not immune to the storm's impact, as the storm and travel disruptions affected attendance.

But dealing with a monster storm is not the only issue confronting insurers, said Mr. Sampson. The intersection of politics and the economy has become “problematic and acute,” he said, and the “threat of more costly regulations” looms as an issue for the property/casualty insurance in-dustry.

The same theme was echoed by other speakers at the conference.

A former top federal economic official is “cautiously optimistic” about the United States' long-term economic outlook.

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Some pessimists say that the nation will never get through its current economic problems, said Michael J. Boskin, who served as chairman of the President's Council of Economic Advisers under former President George H.W. Bush and is now a senior fellow at the Hoover Institution and a professor of economics at Stanford University.

He agreed that “we have serious, serious problems.” But he said the country has faced supposedly “insurmountable problems” in the past, such as the fear of Japanese economic competition in the 1980s, but has overcome them.

He said the United States has advantages over Europe, including lower taxes, a less bloated welfare state, and global leadership in technology and productivity. “We have an opportunity in the next few years to right this ship,” he said.

But while previous sharp recessions in the U.S. have been followed by impressive recoveries, the current downturn has been followed by an “anemic” recovery, he said. Additionally, Mr. Boskin said he believes there has been “way too much government involvement in the economy” and added that there will be “lots of disruptions” while returning to a normal economy.

Still, “while we have some serious challenges to get through, I believe we will get through them,” he said. Noting the potential impact of Superstorm Sandy on the country, Mr. Boskin also praised the insurance industry “for all you do for the economy.”

Another veteran political observer said he believes next year will be a crucial one for public policy.

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“A lot of public policy will be made in 2013,” said William Kristol, editor of The Weekly Standard magazine. For example, if Republican nominee Mitt Romney is elected, he has said he would repeal and replace the controversial Patient Protection and Affordable Care Act. If elected president, Mr. Romney also would be likely to seek changes in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new president also would have to deal with the federal budget. And as if that were not enough, Mr. Kristol added that he thinks 2013 will be a critical year for dealing with Iran.

If re-elected, President Barack Obama also would have to make critical decisions dealing with spending, the national debt, the budget and foreign policy, said Mr. Kristol. “Either way, 2013 becomes a huge year.”

PCI had an election of its own during the meeting, choosing its officers for the next year.

Jonathan E. Michael, chairman and CEO of Peoria, Ill.-based RLI Corp., was elected as PCI's chairman. In addition, Robert P. Restrepo, president, chairman and CEO of Columbus, Ohio-based State Auto Insurance Cos., was elected first vice chairman; and Terrence W. Cavanaugh, president and CEO of Erie, Pa.-based Erie Insurance Group, was elected second vice chairman.

“Their leadership will be invaluable to our advocacy efforts as we address soaring no-fault auto insurance costs, coastal and natural catastrophe reforms, federal corporate tax reform initiatives, regulatory modernization, reauthorization of the Terrorism Risk Insurance Act and workers compensation issues,” said PCI President and CEO David A. Sampson in a statement.