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, August 31, please email Michael Barry at michaelb@iii.org.
CONSUMER FEDERATION OF AMERICA (CFA) SAYS STATE REGULATORS NEED TO DO MORE ON THE ISSUE OF AUTO INSURANCE AFFORDABILITY
In the four years since its inception, a National Association of Insurance Commissioners’ (NAIC) Auto Insurance Working Group has done little to further the cause of low-income drivers who are seeking affordable coverage, the CFA charged last week. The I.I.I.’s Michael Barry is attending the NAIC’s San Diego meeting (August 26-29) and can be reached via email (michaelb@iii.org) if your company wants to send media his way.
LOUISIANA’s FLOODS CONTINUE TO GENERATE NATIONAL MEDIA COVERAGE
The I.I.I. issued two press releases: The first, examined the risk of flooding and the fact that the number of Louisiana flood policies declined by 9 percent since 2011; the other instructed readers how to file an insurance claim, and how to apply for federal aid. The releases resulted in an extensive number of interviews including CNBC, CNN Money, MarketWatch, Consumer Reports, The Wall Street Journal, The Economist, Scientific American, Louisiana Radio Network, WWL Radio in New Orleans, Baton Rouge Advocate, Baton Rouge Business Report, Dallas Morning News, Houston Chronicle, Tampa Bay Times, Insurance Business America, Politico.com, NBCNews.com and Realtor.com.
NICB HEADS DOWN TO LOUSIANA TO CREATE VIDEO ON FLOODED CARS
NICB will be in Louisiana on Tuesday, August 30, to create a video on flood damaged cars, noting that vehicles classified as flood damaged in Louisiana have to be destroyed. Most older vehicles in that state (where trucks outnumber cars) don’t carry comprehensive coverage, so a large number of them will never see the crusher, possibly to end up on Craigslist, sold as used cars, or shipped for sale out of state. NICB will be talking to the DMV and the state police while down there.
DEATH TOLL RISES TO AT LEAST 73 IN ITALY EARTHQUAKE
Rescue workers scrambled to reach survivors buried under rubble in isolated towns and villages across central Italy on Wednesday after a 6.2-magnitude earthquake and a series of strong aftershocks struck the region overnight, collapsing homes, rattling buildings as far away as Rome and Venice and leaving an escalating toll of dead and injured, it was reported in the Washington Post. At least 73 people were killed in the mountainous heart of the country, with more than 100 listed as missing, according to Italy's Civil Protection Department. The I.I.I. used the event as an opportunity to educate consumers about the need for earthquake insurance for homes and businesses and to promote its facts and statistics. The I.I.I. sent out a press release, using the earthquakes in Italy and Myanmar as a warning to homeowners and businessowners in many parts of the United States that they also face risks from earthquakes, and should consider purchasing earthquake insurance.
STORIES IN THE WORKS
The I.I.I.’s Sean Kevilighan is taping an interview pegged to 9/11’s 15th anniversary on Friday, August 26, with NY1 reporter Tara Lynn Wagner.
Mike Mishak, a Washington, D.C.-based reporter with The Center for Public Integrity (CPI) is examining the ties between insurance regulators and industry lobbyists.
Mike Barry spoke with NPR's Jess Jiang for a story about the reinsurance market for flood insurance. We’ve since learned she’s steered away from the story and may focus more on FEMA.
Elianne González did a taped interview with Univision’s Gema de las Heras, who is doing a story about what drivers need to know in the event they are in an accident and their car is towed to a storage facility. The story is tentatively set to air next week.
SOCIAL MEDIA REPORT
Italy Earthquake
The earthquake in Italy is a top trending topic on social. The I.I.I. sent tweets about the event that linked to our Facts and Statistic page on earthquakes as well as content on the need for earthquake insurance for homes and businesses. Social updates were retweeted by media, including Rosalie Donlon of Property Casualty 360. We encourage you to retweet Rosalie’s account at @RosalieDonlon and share with your social audiences. For more breaking news on the story, you can follow @cnnbrk.
Louisiana Floods
The Louisiana floods are still garnering strong attention on social. On Thursday, August 18, the I.I.I. created a new page on its website that provides a consumer-friendly FEMA infographic on how to file a claim. Our flood-related social posts have been performing very strongly, with our tweet linking to the infographic receiving a total of 20 engagements and 1,500 views. Also be sure to check out Lynne McChristian’s latest blog post on flood myths and FEMA’s #FloodSmart campaign on social for consumer-friendly tips and information.
I.I.I. Consumer-Oriented Emails Now Distributed Through KYS Sub List
I.I.I.’s last Check20 email campaign will be sent out next Friday, September 2. Check20 will be discontinued as I.I.I.’s digital team will be sending out consumer emails through our home inventory Know Your Stuff app subscriber list. If you haven’t already signed up and registered for the app, you can do so by visiting knowyourstuff.org.
CAPITOL HILL
After MetLife recently won a court battle with federal regulators, the government has appealed the ruling in the D.C. Circuit Court of Appeals. In this opinion piece in the Wall Street Journal (subscription required) on August 23, the editor sees the dispute as a result of the Dodd-Frank financial law, and derides an amicus brief filed on the MetLife case by the two authors of that legislation: Chris Dodd, the former Connecticut senator who left politics after he was accused of accepting an improper mortgage deal from Countrywide Financial, and Barney Frank, the former member of the House who supported Fannie Mae and Freddie Mac before the two huge mortgage firms played a major role in the 2008 financial crisis.
STATES
California
Authorities have lifted all evacuation orders affecting thousands of people, less than a week after a wildfire raged through mountainous terrain in Southern California and consumed hundreds of homes and other buildings, it was reported in an Associated Press story, which was picked up by Fox News. About 82,000 people were ordered to leave their properties when the fire broke out Tuesday, 60 miles east of Los Angeles. As firefighters advanced on the blaze, evacuation orders were gradually lifted.
AM Best reported 441 structures were lost in three major CA wildfires: Blue Cut, Clayton, and Chimney Fires. http://sogotradedev.websol.barchart.com/?module=topNews&storyID=482745
LA News Group’s Kevin Smith reported on increasing costs of insurance in wildfire prone areas. I.I.I.’s Janet Ruiz was quoted on loss prevention and loss history’s part in the process. http://www.pe.com/articles/insurance-811026-fire-california.html.
Janet Ruiz was also interviewed by AARP on snow birds and the insurance implications of closing up one home and opening up another home.
I.I.I.’s Vice President of Data Analytics/Information and Chief Actuary, James Lynch will be speaking at Silicon Valley’s Insurance Disrupted Conference on September 8. The conference will be held at the South San Francisco Convention Center on September 7-8 focusing on Disruptive Big Data and Analytics Strategies. I.I.I. member companies receive a 15% discount on registration. Promo Code: Q3JAMESL-15 http://goo.gl/yMaBvE Please share this with others in your companies who would like to attend. Jim will be speaking on Big Data, Analytics, AI Customer Driven and Distribution Management.
Florida
If you are among the two million new residents to Florida since the fall of 2005 who have never lived through a hurricane, ask your friends who survived Hurricane Andrew what that was like. The 24th anniversary of that massive storm took place August 24, it was reported in the Sun Sentinel.
There's a real possibility that a tropical storm or hurricane will gather strength near the Bahamas before crossing the Florida peninsula late this weekend (August 27-28) and then move into the Gulf of Mexico early next week, according to Mashable.
Pennsylvania
A Lebanon City Councilman announced he is resigning from office after being charged with insurance fraud.
Oklahoma
Earthquake activity has slowed in Oklahoma over the past six months, but the state still is shaking at a rate that far outpaces the historical average.
Louisiana
Flood insurance premiums are about to get cheaper for many New Orleans homeowners thanks to new Flood Insurance Rate Maps from the Federal Emergency Management Agency. To help residents understand the new maps and rates, FEMA will hold a workshop on Friday (Aug. 26) from 1 to 3 p.m. in the New Orleans City Council Chambers, 1300 Perdido St.
It will take years — and hours of public meetings — before it's known exactly how historic flooding in Louisiana will alter flood maps and insurance rates across the state, according to the New Orleans Times Picayune. The state's top insurance regulator is among those bracing for higher costs in many areas.
Louisiana flood victims get extra time to pay insurance premiums, it was reported in the New Orleans Times Picayune. Under an emergency rule issued Thursday, August 18 by Louisiana's top insurance official, the measure prevents insurers from dropping policyholders still recovering from the flooding disaster.
It will take a full year for areas of Louisiana to come back from the past week's devastating floods, an LSU economist said Monday (Aug. 22) in a forecast that drew quick skepticism from one of the figureheads of the Hurricane Katrina recovery, according to the New Orleans Times Picayune.
The Baton Rouge Area Chamber has made a first attempt to assess the scope of the damage from the past week's historic flooding in southern Louisiana, and the numbers are staggering, the New Orleans Times Picayune reported.
Mississippi
FEMA will suspend reimbursement of nearly $30 million to Mississippi for disaster-mitigation work because of lax state oversight and financial irregularities in a program to strengthen homes against wind damage following Hurricane Katrina, according to the Mississippi Sun Herald.
MEDIA MATTERS
CNBC’s Morgan Brennan has been assigned to the insurance beat. She can be reached at morgan.brennan@nbcuni.com. In addition, Los Angeles-based Jane Wells will now serve as a special correspondent, rather than a day-to-day reporter. She can be reached at jane.wells@nbc.com.
CNN’s Ashleigh Banfield will succeed Nancy Grace at HLN on Monday, October 17, at 8 p.m., ET.
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
