SYNOPSIS – ALL INDUSTRY CONFERENCE CALL April 30, 2014

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, May 7, please email me at michaelb@iii.org.

 

FEMA said there were 15 confirmed fatalities in Arkansas after tornadoes swept through that state, and 12 deaths were linked to twisters in Mississippi twisters. ABC’s Evening News had more details.

The I.I.I. issued a news release on Monday, April 28, pointing out how tornadoes and severe thunderstorms accounted for 80 percent of natural disaster-caused insurance losses in 2013.

2013 provided a comparative respite from 2012’s natural disasters while 2014’s winter storm losses were manageable, the I.I.I.’s Bob Hartwig reports.

The finding came in J.D. Power’s 2014 U.S. Insurance Shopping Study, released on Thursday, April 24. A poor experience with their insurer is the main reason customers shop around.

Walmart is being compensated for promoting AutoInsurance.com, although the retailer does not have an ownership stake in the website, The New York Times reports.

 

The I.I.I.’s Jeanne Salvatore gave interviews to Money’s Amanda Gengler (rental coverage for landlords) and Edmunds’ Karen Bannan (adding a teenaged driver to your policy).

 

The I.I.I.’s Loretta Worters spoke with Kiplinger Personal Finance’s Lisa Gerstner (the sharing economy and insurance), the Bergen Record’s Karen Sudol (New Jersey’s post-Sandy insurance issues) and Michelle Rafter of Edmunds (impact of rear-view technology on auto insurance).

 

The I.I.I.’s Mike Barry gave an interview to InsuranceQuotes.com’s Nick DiUlio about the impact a vehicle’s make/model has on the pricing of an auto insurance policy.

Kathryn Sullivan, administrator for the National Oceanic and Atmospheric Administration (NOAA), was named one of Time magazine’s 100 Most Influential People.

 

Governor Jan Brewer’s veto of House Bill 2262, which would have limited an auto insurer’s ability to exclude commercial activity, was applauded by PCI in a Thursday, April 24, release.

A wind-driven brush fire north of Rancho Cucamonga, and east of Los Angeles, burned nearly 1,000 acres this week, according to this Los Angeles Times article.

 

Mapfre is positioning itself to sell auto insurance to the estimated 1.4 million undocumented residents who will qualify for drivers licenses starting in January 2015, KPCC-FM reports.

Governor John Hickenlooper is expected to sign into law a ride-sharing bill (SB 125) which has the support of The Denver Post’s editorial board.

 

Heavy rains this week caused widespread flooding in Pensacola and other Panhandle communities, according to this CNN segment.

 

Deerfield Beach-based People’s Trust Insurance Company is no longer writing new business in Broward, Miami-Dade and Palm Beach counties, this Palm Beach Post blog states.

 

The House passed a bill (SB 542) to expand flood insurance offerings but Congress’ decision to modify Biggert-Waters made it a lower legislative priority, the Tampa Tribune reports.

 

Surplus line insurers will not be included in the Citizens Property Insurance Corporation’s clearinghouse under a revamped version of Senate Bill 1672, according to the Associated Press.

 

BP told the company’s investors it will continue to fight fraudulent compensation claims tied to the 2010 Gulf of Mexico oil spill, the New Orleans Times-Picayune reports.

 

A Lansing-based correspondent reported last week onlegislation to ban insurers from raising rates on policyholders who filed a pothole-related claim.

 

One-time Rep. Gene Taylor, a former Democrat, is running in a Tuesday, June 3, Republican Congressional primary against Rep. Steven Palazzo, who ousted Rep. Taylor in 2010.

FEMA has extended until October 28, 2014, the deadline for filing documents related to Sandy flood claims, according to this Monday, April 28, Star-Ledger article.

 

One person died, 22 were injured, and 150-200 homes were either damaged or destroyed after 10 tornadoes hit seven counties on Friday, April 25, according to FEMA (slide #9).

 

Auto insurers could opt out of participating in the state’s collective rate-making process under a proposal from FAIR NC, this Saturday, April 26, Raleigh News & Observer print article states.

The board of directors of the Bureau of Workers’ Compensation is being asked to approve a 6.3 percent reduction in workers comp base rates effective July 1, 2014, according to this BWC news release.

The Wall Street Journal published in its Wednesday, April 30, print edition an article saying Snohomish County knew years ago a catastrophic landslide could occur in Steelhead Haven.

 

The tornadoes, rain and flooding that has been hitting the southeastern U.S. this week is the main topic in social media. Humanitarian organizations, such as the Salvation Army and Red Cross, have been tweeting about donations and relief efforts in the affected areas. Meanwhile, the Weather Channel launched its previously scheduled Tornado Week and posted an infographic about tornadoes. It has been shared extensively, mostly by insurance agents. The I.I.I. posted the infographic to its Pinterest board on disaster preparedness.

 

In I.I.I. news, Bob Hartwig’s Friday, April 25, presentation on Global Insurance and Reinsurance Trends was very popular on social media, having been clicked on 70 times. In addition, Dr. Hartwig’s commentary on the year-end 2013 financial results for U.S. property/casualty insurers was last week’s most shared I.I.I. content.

Ellen Kampinsky is the new editor-in-chief of Consumer Reports magazine, which has a circulation of about four million, according to a Friday, April 25, news release.

 

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

 

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