National Hurricane Center’s director says NHC needs to improve its ability to assess storm intensity:
NHC director Bill Read’s observations came at last week’s National Hurricane Conference in Orlando, Florida, according to this Thursday, April 1, Houston Chronicle article. Read did say that the federal government is getting better at tracking storm paths.Colorado State University, Accuweather.com foresee an active 2010 Atlantic hurricane season:
William Gray and Philip Klotzbach of Colorado State University released a report on Wednesday, April 7 saying they believe there will be eight hurricanes, four of them major, in 2010, according to a same-day Reuters story. The Colorado State University researchers foresee a 69 percent chance of at least one major hurricane making landfall on the U.S. coastline in 2010, compared with a long-term average probability of 52 percent. Accuweather.com issued its report on Thursday, April 8, calling for five 2010 hurricanes, with two or three of them having an impact on the U.S. coastline between June and November 2010.CNBC blogger gives forum to law professor who just published book critical of insurance industry:
CNBC’s ‘Bullish on Books’ blog section on Monday, April 5 included a guest column written by Professor Jay Feinman. Feinman offered a condensed version of Delay, Deny Defend: Why Insurance Companies Don’t Pay Claims, and What You Can do About It, his latest book. The I.I.I. has posted talking points for members only in response to some of the book’s major assertions.I.I.I. gives live interview to New York City morning news program on flood insurance, claims filing:
The I.I.I.’s Jeanne Salvatore gave a live interview on Friday morning, April 2, to WPIX-TV in New York City on these issues in the wake of the heavy rains that hit the Northeast in recent weeks. The video is housed in the I.I.I.’s members-only media archive section.New York Times published front page story on long-retired NFL football players filing workers compensation claims in California:
A Tuesday, April 6, article, offered a detailed look at the growing number of retired NFL players who are filing workers compensation claims in California because of two quirks in California’s workers compensation law: 1) there is no real statute of limitations on when such claims can be filed; and 2) claimants who may have played only one NFL game in the state of California are eligible to file claim.
Risk modeler says Mexico earthquake may have generated up to $300 million in insured losses:
Eqecat is saying the 7.2-magnitude earthquake in Mexico on Easter Sunday, April 4, may have generated upwards of $300 million in insured losses, according to a Tuesday, April 6, Business Insurance story.
San Diego Union-Tribune, New York Times examine the low California take-up rate for earthquake insurance:
The Union-Tribune and the NYT found this week that Californians are largely uninsured in the event of a major earthquake.
I.I.I. president taped Best Day Video segment this week:
The I.I.I.’s Bob Hartwig taped on Thursday, April 8, a two-part interview with Best Day video host John Weber for the daily online program’s upcoming look at the fifth anniversary of Hurricane Katrina. Best Day’s studio is in Oldwick, New Jersey, and the series is expected to air near the start of the hurricane season in June 2010. We will send out the specific dates when we have them.AARP Bulletin, Nolo’s Essential Guide to Buying Your First Home, sourcing I.I.I. for upcoming publications:
The AARP Bulletin’s Caroline Mayer (caroline@carolinemayer.com) is doing a story on auto insurer defensive driving discounts, while Ilona Bray (ilona@nolo.com) is updating a book on buying your first home, with a focus on exploring what types of liability claims are most often filed under a homeowners insurance policy.
Tax Watch report concludes Florida is ‘one major hurricane’ away from financial crisis:
Pegged to the release of a Tax Watch study, the Tallahassee Democrat published a story on Monday, April 5, explaining how Tax Watch also believes Florida’s private-sector property insurance companies need more freedom to raise their premium rates and that state legislators should bring the finances of the state-run Citizens Property Insurance Corporation under control.
Florida Hurricane Catastrophe Fund still resolving claims from 2005:
The Florida state board of administration—Governor Crist, CFO Sink and attorney general McCollum—will convene on Tuesday, April 13, to vote on a resolution (see item 5 on the agenda) regarding the issuance of bonds by the Florida Hurricane Catastrophe Fund. The proceeds from these FHCF bonds “will be used for the reimbursement of insurance companies for additional claims due to hurricanes during the 2005 hurricane season.”Federal government releases interim remediation study on defective Chinese drywall:
The joint statement from the U.S. Department of Housing and Urban Development (HUD) and the Consumer Product Safety Commission (CPSC) was issued on Thursday, April 2, and urged homeowners to rid their properties of the defective Chinese drywall but offered little in the way of recommending how to finance this undertaking. The New Orleans Times-Picayune and The Wall Street Journal (subscription required) reported on the latest defective Chinese drywall developments. The I.I.I.’s Claire Wilkinson also blogged about the federal government’s latest announcement.U.S. Senator hosts Mississippi property insurance roundtable discussion:
U.S. Senator Roger Wicker (R-Mississippi) hosted an insurance roundtable on Thursday, April 8, at Mississippi Gulf Coast Community College’s campus in Gulfport, MS. The event was open to the public, and the presenters included Professors Howard Kunrether and Erwann Michel-Kerjan from the University of Pennsylvania; U.S. Rep. Gene Taylor, (D-Mississippi); Lloyd Dixon, an economist with the RAND Corp.; and Greg Toczydlowski, president of personal insurance for Travelers. The Mobile Press-Register published a next-day story on the gathering.Northern Illinois hail storms prompt insurance coverage queries from media:
Hail-caused damage is covered under standard homeowners insurance policies as well as the comprehensive portion of an auto insurance policy, the Daily Herald reported on Tuesday, April 6, a day after severe thunderstorms and hail hit parts of Cook and DuPage counties.
PCI touts Kansas state Legislature’s passage of bill on use of credit information:
If signed into law by the governor, HB 2501 would make credit checks on policy renewals voluntary, rather than mandatory, and modify when adverse action notices must be sent, according to this Tuesday, April 6, news release issued by the Property Casualty Insurers Association of America (PCI).
