To recap the issues raised during this week’s conference call, here are the key media stories we discussed, and the messages we’re conveying.
If there is a subject you would like to see addressed on Wednesday, April 30, please email me at michaelb@iii.org.
U.S. PROPERTY/CASUALTY INSURANCE INDUSTRY FINANCIAL RESULTS FOR YEAR-END 2013 WERE RELEASED THIS WEEK
Profitability surged in 2013 to its highest level in the post-financial crisis era. The Consumer Federation of America issued a news release after the numbers became publicly available.
I.I.I.’s PRESIDENT WAS PANELIST AT MARSH EVENT IN D.C. ON THE FUTURE OF THE TERRORISM RISK INSURANCE ACT (TRIA) PROGRAM
The I.I.I.’s Robert Hartwig was joined by Marsh CEO Daniel Glaser on Tuesday, April 22 on Capitol Hill. Marsh released its annual survey of the terror risk market that same day.
PRESIDENT OBAMA VISITS SITE OF MARCH 22 WASHINGTON STATE MUDSLIDE; FEMA REPORTS DISASTER’S DEATH TOLL STANDS AT 41 PEOPLE
The White House posted online the president’s remarks on Tuesday, April 22, at the Oso, Washington, firehouse. A FEMA briefing (see slide #2) confirms there were 41 fatalities.
FEDERAL GOVERNMENT SAYS 2014 TORNADO SEASON HAS TO DATE BEEN ONE OF THE QUIETEST, AND SAFEST, IN DECADES
USA Today’s Wednesday, April 23, article is pegged to the National Severe Storms Laboratory, which reports there has not been a single U.S. tornado fatality in 2014 as of April 22.
WSJ COVERS FEDERAL INSURANCE OFFICE’S (FIO) REQUEST FOR COMMENTS ON AVAILABILITY, AFFORDABILITY OF AUTO INSURANCE
Comments to the FIO must be received no later than Monday, June 9, 2014. The Wall Street Journal highlighted the federal agency’s initiative in a Thursday, April 17, article.
STORIES IN THE WORKS
The I.I.I.’s Bob Hartwig gave an interview to The Portland, Oregon Business Journal about the impact of the Terrorism Risk Insurance Act (TRIA) program on the economy of the Pacific Northwest. Hartwig also discussed the insurance implications of driverless cars with Bradley Berman, a California-based writer for The New Yorker magazine’s website.
The I.I.I.’s Mike Barry spoke with Transport Topics about a just-issued federal report on raising minimum insurance levels for motor carriers, which have been in place since 1985.
The I.I.I.’s Loretta Worters gave interviews to Amtrak’s Arrive magazine and Kiplinger’s Personal Finance on what an Airbnb renter ought to consider when it comes to insurance.
Michelle Rafter of Edmunds.com (michellerafter@comcast.net) is writing about the federal government requiring rear visibility technology in all new vehicles by May 2018.
STATES
California
Pacific Gas & Electric pleaded not guilty to multiple felony charges related to a 2010 San Bruno explosion and fire that killed eight people, this Monday, April 21, Oakland Tribune article states.
Website hits at the California Earthquake Authority (CEA) “went through the roof” after this month’s 5.1-magnitude La Habra quake, the Insurance Journal reports.
Florida
ABC’s Evening News pegged this Sunday, April 20, segment on sinkholes to one that materialized in The Villages, a residential community outside Orlando, last weekend.
Lloyd’s of London is selling flood insurance coverage at much lower rates than the federal government, according to this Thursday, April 17, Tampa Bay Times article.
The Supreme Court denied this week a request to review the state’s 2012 Personal Injury Protection reform law (House Bill 119), A.M. Best reports (subscription required).
Indiana
The Obama administration approved on Tuesday, April 22, a major disaster declaration for 19 counties impacted by the severe winter snow storms of January 5-9, 2014.
Louisiana
Payments per claim for the medical care of injured workers (2006-2011) were higher, and grew faster, than in most states, a new Workers’ Compensation Research Institute study found.
Maryland
Governor Martin O’Malley signed into law legislation (SB 247, page 16) created in response to a 2012 Court of Appeals ruling on dog bite liability (Tracey v. Solesky).
Mississippi
Former Judge Bobby DeLaughter, known for his ties to Dickie Scruggs, has moved to Louisiana and had a novel published, the Clarion Ledger reported, in this Monday, April 21, piece.
SOCIAL MEDIA REPORT
Airbnb is making some waves in social media because New York State is suing them. New York State’s attorney general believes people are breaking the law when renting their apartments on Airbnb because it is illegal in New York to rent a residence for less than 30 days. Airbnb feels New York State should change its law in to keep up with the changing times. Airbnb went to court yesterday (Tuesday, April 22) and the judge has yet to issue a ruling. In the meantime, people continue to not only promote Airbnb on social, but their available rooms, as well.
The New York International Auto Show continues until Sunday, April 27, and social media has been buzzing about the new car models and concept cars. An article in a Wall Street Journal blog, listing the most expensive cars at the auto show, was retweeted over 300 times as of this morning.
In a related development, the I.I.I.’s release on comprehensive auto insurance continues to be widely shared more than a week after it was first issued.
Finally, in support of Earth Day, the I.I.I. has created two Pinterest boards: Green Home and Green Transportation. Both promote environmentally friendly ways to live and travel.
MEDIA MATTERS
Sam Champion’s early morning Weather Channel program will broadcast live from Moore, Oklahoma, on Thursday, May 1 and Friday, May 2.
Colorado-based Tim Sprinkle joined PC360 last week as its managing editor (p: 720-278-8036, email: tsprinkle@SummitProNets.com). Sprinkle was previously with Yahoo! Finance.
The I.I.I. is cited regularly in the media as an authoritative source of insurance information. To access the current I.I.I. press clips, click here
For an I.I.I. Blog search, click here.
