To recap the issues raised during Wednesday’s conference call, here are some of the key media stories, and the messages we’re conveying.
If there is a subject you would like to see addressed on Wednesday, September 7, please email Mike Barry at michaelb@iii.org.
I.I.I. ISSUED NUMEROUS RELEASES, HANDLED DOZENS OF MEDIA CALLS THROUGHOUT HURRICANE IRENE CRISIS
The I.I.I.’s Irene-related releases were issued between Tuesday, August 23, and Thursday, September 1, covering a broad range of issues. The storm struck the Eastern Seaboard of the United States over the weekend of Saturday, August 27, and Sunday, August 28. I.I.I. representatives appeared on radio and TV, as well as in print and Web-based publications, handling queries in both English and Spanish-language outlets about coverage matters, how hurricane and windstorm deductibles work, and the role FEMA plays in administering the National Flood Insurance Program. The I.I.I. remains in the market for the names and numbers of I.I.I. member company insurance adjusters who can speak to the media. If you have someone fitting that description, please send Jeanne Salvatore (jeannes@iii.org) their contact information.
The I.I.I.’s Irene-related releases were issued between Tuesday, August 23, and Thursday, September 1, covering a broad range of issues. The storm struck the Eastern Seaboard of the United States over the weekend of Saturday, August 27, and Sunday, August 28. I.I.I. representatives appeared on radio and TV, as well as in print and Web-based publications, handling queries in both English and Spanish-language outlets about coverage matters, how hurricane and windstorm deductibles work, and the role FEMA plays in administering the National Flood Insurance Program. The I.I.I. remains in the market for the names and numbers of I.I.I. member company insurance adjusters who can speak to the media. If you have someone fitting that description, please send Jeanne Salvatore (jeannes@iii.org) their contact information.
I.I.I.’s MISSOURI MEDIA TOUR PAYS DIVIDENDS AS INSURERS CREDITED WITH QUICK RESPONSE TO DEADLY MAY TORNADOES
This Tuesday, August 30 Joplin Globe article reports that ISO’s Property Claims Services expects insured losses from the tornadoes that hit Joplin, Missouri, this year to total more than $2.2 billion, and the I.I.I.’s Bob Hartwig notes that the $2.2 billion number reflects the amounts already paid to policyholders “plus the dollars insurers have earmarked or put in reserve for Joplin claims.” James Huff, the Missouri Insurance Department director, commended the insurance industry’s role in the recovery in Joplin and noted that the disaster was the largest insurance event in Missouri’s history.
This Tuesday, August 30 Joplin Globe article reports that ISO’s Property Claims Services expects insured losses from the tornadoes that hit Joplin, Missouri, this year to total more than $2.2 billion, and the I.I.I.’s Bob Hartwig notes that the $2.2 billion number reflects the amounts already paid to policyholders “plus the dollars insurers have earmarked or put in reserve for Joplin claims.” James Huff, the Missouri Insurance Department director, commended the insurance industry’s role in the recovery in Joplin and noted that the disaster was the largest insurance event in Missouri’s history.
NEW YORK, NEW JERSEY REGULATORS ANNOUNCE THAT HURRICANE DEDUCTIBLES WILL NOT BE APPLICABLE FOR IRENE-RELATED CLAIMS
The New York Insurance Department issued a release with that information the day after our call, Thursday, September 1. The New Jersey Department of Banking and Insurance made a comparable Irene-related decision earlier in the week, and offered details in this Monday, August 29, agency bulletin.
The New York Insurance Department issued a release with that information the day after our call, Thursday, September 1. The New Jersey Department of Banking and Insurance made a comparable Irene-related decision earlier in the week, and offered details in this Monday, August 29, agency bulletin.
MARYLAND SAYS HURRICANE DEDUCTIBLE CRITERIA MAY HAVE BEEN MET IN SEVEN OF THE STATE’S COASTAL COUNTIES
The Maryland Insurance Administration issued this guidance to the state’s property insurers on Thursday, September 1, days after Hurricane Irene impacted Maryland.
The Maryland Insurance Administration issued this guidance to the state’s property insurers on Thursday, September 1, days after Hurricane Irene impacted Maryland.
CONSUMER REPORTS MAGAZINE EXAMINING HURRICANE/WINDSTORM DEDUCTIBLES ALONG THE EASTERN SEABOARD
Jeff Blyskal of Consumer Reports is apparently readying major look at hurricane/windstorm deductibles. Blyskal spoke on Tuesday, August 30, with the I.I.I’s Salvatore, telling her he spent a day recently with Florida Insurance Commissioner Kevin McCarty, and plans to do the same with other Eastern Seaboard insurance commissioners to get his arms around these deductibles, (e.g., how they work, and what regulators think of them).
Jeff Blyskal of Consumer Reports is apparently readying major look at hurricane/windstorm deductibles. Blyskal spoke on Tuesday, August 30, with the I.I.I’s Salvatore, telling her he spent a day recently with Florida Insurance Commissioner Kevin McCarty, and plans to do the same with other Eastern Seaboard insurance commissioners to get his arms around these deductibles, (e.g., how they work, and what regulators think of them).
U.S. SENATE BANKING COMMITTEE HAS NATIONAL FLOOD INSURANCE PROGRAM, FSOC NOMINEE, ON ITS THURSDAY, SEPTEMBER 8, AGENDA
The future of the NFIP and the nomination of former Kentucky insurance commissioner Roy Woodall as a director on the Financial Stability Oversight Council (FSOC) are among the issues listed on the Thursday, September 8, Banking Committee agenda.
The future of the NFIP and the nomination of former Kentucky insurance commissioner Roy Woodall as a director on the Financial Stability Oversight Council (FSOC) are among the issues listed on the Thursday, September 8, Banking Committee agenda.
DALLAS MORNING NEWS REPORTS MORE THAN ONE IN FIVE TEXAS MOTORISTS LACK THE AUTO INSURANCE THAT STATE LAW REQUIRES
TexasSure, the state’s three-year-old program, has been unable to reduce sharply the number of uninsured and underinsured motorists who are driving in Texas, according to this front page story in the Thursday, August 25, print edition of The Dallas Morning News (subscription required for access to full article).
TexasSure, the state’s three-year-old program, has been unable to reduce sharply the number of uninsured and underinsured motorists who are driving in Texas, according to this front page story in the Thursday, August 25, print edition of The Dallas Morning News (subscription required for access to full article).
TAMPA-BASED PROPERTY INSURER LOSES ITS FINANCIAL HEALTH RATING ONLY MONTHS AFTER MERGING WITH ANOTHER INSURER
HomeWise Insurance of Tampa, Florida, which merged with First Home Insurance in Maitland, Florida, in June 2011, lost its financial health rating last week, according to this Monday, August 29, online story in The South Florida Sun Sentinel. Demotech was the only agency that rated HomeWise, and they said they were no longer going to do so on Thursday, August 25. HomeWise has more than 76,000 policies in the state, including about 28,000 in Broward, Palm Beach and Miami-Dade counties, the story stated.
HomeWise Insurance of Tampa, Florida, which merged with First Home Insurance in Maitland, Florida, in June 2011, lost its financial health rating last week, according to this Monday, August 29, online story in The South Florida Sun Sentinel. Demotech was the only agency that rated HomeWise, and they said they were no longer going to do so on Thursday, August 25. HomeWise has more than 76,000 policies in the state, including about 28,000 in Broward, Palm Beach and Miami-Dade counties, the story stated.
FEDERAL GOVERNMENT RELEASES REPORT ON CAUSES OF SEPTEMBER 2010 GAS EXPLOSION IN NORTHERN CALIFORNIA
The National Transportation Safety Board (NTSB) was strongly critical of Pacific Gas and Electric Company’s (PG&E) operations in and around San Bruno, California, in the years prior to the September 9, 2010, explosion which killed eight people and nearly destroyed 50 homes. The NTSB’s news release on its investigation into the blast was issued on Tuesday, August 30.
The National Transportation Safety Board (NTSB) was strongly critical of Pacific Gas and Electric Company’s (PG&E) operations in and around San Bruno, California, in the years prior to the September 9, 2010, explosion which killed eight people and nearly destroyed 50 homes. The NTSB’s news release on its investigation into the blast was issued on Tuesday, August 30.
STANDING ROOM ONLY CROWD ATTENDS MOBILE, ALABAMA, HEARING ON AVAILABILITY/AFFFORDABILITY OF HOMEOWNERS INSURANCE
The Alabama Affordable Homeowners Commission heard from citizens who said they are not able to keep paying their increasing homeowner premiums and manage large hurricane deductibles, according to this story, which appeared on the front page of The Mobile Press-Register’s Tuesday, August 30, print edition. Baldwin County Probate Judge Tim Russell, the commission’s chairman, said the Mobile, Alabama, hearing was valuable because commission members from other parts of the state were able to hear first-hand the frustrations of residents in Alabama’s coastal counties of Mobile and Baldwin.
The Alabama Affordable Homeowners Commission heard from citizens who said they are not able to keep paying their increasing homeowner premiums and manage large hurricane deductibles, according to this story, which appeared on the front page of The Mobile Press-Register’s Tuesday, August 30, print edition. Baldwin County Probate Judge Tim Russell, the commission’s chairman, said the Mobile, Alabama, hearing was valuable because commission members from other parts of the state were able to hear first-hand the frustrations of residents in Alabama’s coastal counties of Mobile and Baldwin.
SOCIAL MEDIA REPORT
The I.I.I.’s Hurricane Irene-related news releases and other editorial content received widespread pick-up in the social media on Thursday, August 25, and Friday, August 26, days before the storm made landfall in the U.S.
The I.I.I.’s Hurricane Irene-related news releases and other editorial content received widespread pick-up in the social media on Thursday, August 25, and Friday, August 26, days before the storm made landfall in the U.S.
The most popular topics were “making a home inventory” and “evacuation with pets” prior to the arrival of Irene.
After Irene moved on, the most popular topic not surprisingly became “how to make a claim.”
There was also a lot of activity in the social media early this week (Monday, August 29, to Wednesday, August 31) about flood insurance with consumer-focused blogs focusing primarily on two issues: one, that more people should consider buying flood insurance; and two, that the National Flood Insurance Program is broke and unable to meet the financial burden of all the Irene-caused flooding.
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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