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, January 7, please email me at michaelb@iii.org.
I.I.I. ISSUES NEWS RELEASE HOURS AFTER CONGRESS ADJOURNS WITHOUT RENEWING THE TERRORISM RISK INSURANCE ACT (TRIA) PROGRAM
The I.I.I.’s Bob Hartwig conducted nearly a dozen interviews on the day the I.I.I.’s release was issued, including with The New York Times and National Public Radio.
LIFE INSURERS ARE LOWERING THEIR FEDERAL TAX BILL BY TAKING ADVANTAGE OF FAVORABLE STATE INSURANCE LAWS, NEW YORK TIMES REPORTS
Taking advantage of this possibility in states such as South Carolina, Delaware, Arizona and Vermont has saved life insurers billions of dollars in federal taxes, according to this article.
MOST AMERICANS HAVE NO CLUE ABOUT C.L.U.E. REPORTS, INSURANCEQUOTES.COM SURVEY FINDS
About 10 percent of those surveyed were aware of Comprehensive Loss Underwriting Exchange (C.L.U.E.) before buying their current home, the website reports. The I.I.I.’s Jeanne Salvatore discussed the poll’s findings with The Washington Post.
CONSUMER FEDERATION OF AMERICA (CFA) RENEWS ITS CALL FOR REGULATORY SCRUTINY OF ‘PRICE OPTIMIZATION’
The CFA’s news release generated a few articles, such as this one in The Pittsburgh Post-Gazette.
CONNING STUDY OFFERS STATE-BY-STATE ASSESSMENT OF HOW PERSONAL LINES INSURERS PERFORMED BETWEEN 2009 AND 2013
Conning’s Personal Lines State Environmental Annual allows insurers to assess underwriting results, market concentration and economic data.
STORIES IN THE WORKS
The I.I.I’s Salvatore was invited to do a live Weather Channel interview on winter-caused damage covered by insurance.
The I.I.I.’s Salvatore spoke to The Wall Street Journal’s Elizabeth O’Brien about the insurance considerations consumers need to weigh before remodeling their home.
Dallas-Fort Worth’s NBC affiliate is readying an investigative piece on how a 2008 Texas Supreme Court decision limits uninsured auto insurance policy payouts.
The Charlotte Observer is doing the initial research for a story on the insurance implications of driving for a transportation network company (TNC).
CAPITOL HILL
A total of 10,076 people died nationwide in crashes involving a drunk driver in 2013, a drop of 2.5 percent from the previous year, according to the U.S. Department of Transportation.
STATES
Alabama
The National Weather Service reports 53 tornadoes have touched down in the state this year through December 15, 2014, a figure higher than the 40 which have annually hit Alabama, on average, over the past 30 years.
California
Camarillo Springs (Ventura County) incurred some of the most significant damage from last week’s heavy rains, with at least 13 homes damaged by mudslides.
The National Insurance Crime Bureau and the Los Angeles Police Department are warning consumers about towing scams.
The Department of Insurance issued a news release saying Assembly Bill 60, which takes effect on January 1, has the potential to improve safety and decrease the number of uninsured motorists.
Connecticut
Nine families of victims shot to death in December 2012 in Newtown have filed a wrongful-death lawsuit against Bushmaster Firearms International.
Florida
Progressive wants to acquire a majority stake in St. Petersburg-based ARX Holding Corp., parent company of American Strategic Insurance (ASI) and its affiliates.
Georgia
Former Comptroller General Johnnie Caldwell (1922-2014), the state’s top insurance regulator when he held that job, died on Monday, December 15. He retired in 1985.
Hawaii
The Big Island’s lava flow is expected to reach a shopping center and a gas station in the small town of Pahoa by the end of this month, according to Hawaii County’s Civil Defense Director.
Louisiana
A 2.4 percent decrease in workers compensation loss costs, or claim expenses, will go into effect on May 1, 2015, according to the state Insurance Department.
Massachusetts
The Boston Globe reports a state law which allows homeowners to buy flood coverage for no more than the amount remaining on their mortgage, rather than the home’s replacement value, could lead to higher could lead to out-of-pocket repair expenses for homeowners.
Minnesota
State lawmakers want to address the problem of uninsured drivers during their upcoming legislative session, according to the Minneapolis Star-Tribune.
New York
Governor Andrew Cuomo has requested a federal disaster declaration for last month’s snowstorm in western New York.
Texas
San Antonio’s City Council said it welcomes transportation network companies (TNCs) to operate within its boundaries so long as its drivers have sufficient insurance coverage and undergo background checks.
Congress adjourned without renewing the TRIA program and this article from The Wall Street Journal offers an analysis of why that happened. The overall sentiment in social media has been negative in reaction to the TRIA news.
USA Today reports the past three years (2012-2014) have been among the U.S.’s quietest tornado seasons.
The Weather Channel posted a popular article projecting snowfall on Christmas Day in Michigan, northeastern Ohio, northwestern parts of Pennsylvania, and upstate New York.
The I.I.I.’s most popular tweet of the week was a link to our Industry Blog. It discussed Tower Watson’s most recent Commercial Lines Insurance Pricing Survey (CLIPS) and received 110 clicks in a few days.
The I.I.I. has updated its Holiday Fun and Preparedness Board on Pinterest.
MEDIA MATTERS
The New York Times’ newsroom budget cuts will impact dozens of employees.
NBC has signed Brian Williams to a multi-year contract extension.
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.
