To recap the issues raised during last 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, February 8, please email Michael Barry at michaelb@iii.org.
GEORGIA, MISSISSIPPI STILL RECOVERING FROM JANUARY’s DEADLY TORNADOES
Residents in six Georgia counties—Berrien, Cook, Crisp, Dougherty, Turner, and Wilcox—have been approved for FEMA individual assistance following the severe weather there on the weekend of January 21-22, 2017.
The National Weather Service reports 40 tornadoes touched down in the southern U.S. on January 21-22, 2017, with the strongest one an EF-3 which hit Albany, Georgia.
Mississippi Insurance Commissioner Mike Chaney sent his state agency’s representatives to locales in Hattiesburg, Petal, and Purvis, to help victims of the January 21-22, 2017, tornadoes.
The January 2, 2017, Georgia tornado generated about 4,000 insurance claims and also resulted in a presidential disaster declaration for Dougherty County.
SAN FRANCISCO SKYSCRAPER IS AT THE CENTER OF NUMEROUS CONTROVERSIES
San Francisco’s sinking Millennium Tower has a liability insurance policy covering the building which may be insufficient given its structural problems and the litigation the Tower has generated, Bloomberg reports.
The 58-story, 419-unit Millennium Tower is safe to occupy, the city of San Francisco stated, after inspectors visited the site twice over the past two months.
STORIES IN THE WORKS
The I.I.I.’s James Lynch spoke with the Detroit Free Press’ J.C. Reindl for an upcoming story on the factors driving up Michigan’s auto insurance costs.
KTVE-TV, the NBC affiliate in West Monroe, Louisiana, is examining auto insurers’ use of after-market repair parts.
The I.I.I.’s Steven Weisbart was interviewed by Best Review’s Tim Dobbyn on how property/casualty (P/C), health, and life insurers’ investment portfolios differ.
The interview the I.I.I.’s Elianne Gonzalez gave to Miami-based Radio Caracol on cyber risk insurance will be broadcast during the week of February 6-10.
@iii_EnEspanol this week (January 30—February 3) is promoting: #SuperBowl host liability; #CareerTrifecta; and resilience at #HaveAPlan #HagaunPlan #preparese.
CAPITOL HILL
U.S. Treasury Secretary nominee Steven Mnuchin defended the Financial Stability Oversight Council (FSOC) but wondered whether the Office of Financial Research (OFR) was necessary in a Congressional questionnaire.
Two all-electric vehicles received mixed safety reviews in a news release issued today (February 1) by the Insurance Institute for Highway Safety (IIHS).
STATES
California
Citing Lady Gaga’s upcoming Super Bowl performance, as well as Pink’s high-wire act at the Grammys, the I.I.I.’s Janet Ruiz writes insurers are increasingly being asked to assess and cover entertainment risks.
A California Supreme Court decision last month, which upheld Insurance Department regulations governing home insurers, was analyzed by an attorney in Claims Journal.
Florida
The I.I.I.’s Gonzalez discussed cyber risk insurance on Miami’s WSBS-TV on Thursday, January 26.
Louisiana
The federal flood recovery monies allocated last year may not reach its intended beneficiaries until spring 2017, with many saying the U.S. Department of Housing and Urban Development is the reason for the delay.
Michigan
The I.I.I.’s Lynch appeared in a Detroit ABC segment which aired on Monday, January 30, regarding the cost drivers of auto insurance in Michigan.
The Detroit Free Press explained in great detail how one attorney allegedly profited from the state’s current no-fault auto insurance system. The I.I.I.’s Lynch is quoted in the article.
New York
Life insurers “cannot require a beneficiary to produce a deceased policyholder’s medical records” to pursue an alleged misrepresentation investigation, Superintendent of Insurance Maria Vullo stated.
North Carolina
In the wake of Hurricane Matthew, FEMA awarded $90 million in grants and the U.S. Small Business Administration approved $86 million in low-interest loans to help people rebuild, Governor Roy Cooper announced.
Oklahoma
More than 600 magnitude 3.0-plus quakes occurred in 2016, including the state-record magnitude 5.8 temblor on September 3 near Pawnee. Tulsa World reports stronger building codes have mitigated against quake-caused damage.
State Rep. Mark McBride (R-Moore) wants the Uniform Building Code Commission (House Bill 1168) eliminated, arguing its services are already provided by the Construction Industries Board.
Oregon
A presidential disaster declaration has made federal funding available to local governments in Josephine and Lane counties in the wake of severe weather and flooding there between December 14-17, 2016.
South Carolina
Charleston’s Post & Courier reports private-passenger auto insurers want their policyholders to know that policy does not cover them when the vehicle is used for a commercial purpose.
The state’s property insurer of last resort, the South Carolina Wind and Hail Underwriting Association (SCWHUA), will write coverage through March 2019 in the communities the SCWHUA has been serving since 2007.
SOCIAL MEDIA REPORT
Insurance Careers Month
Today (February 1) kicks off the second annual Insurance Careers Month. Be sure to visit insurancecareerstrifecta.org and to use the hashtag #InsuranceCareersMonth and #CareerTrifecta to join the conversation on social.
NHSTA Hosting Feb. 2 Twitter Chat
The National Highway Traffic Safety Administration (NHTSA) is conducting a Twitter Chat tomorrow (February 2), from 3 to 4 p.m., ET, on responsible socializing and drinking, and to encourage fans not to drink and drive on Super Bowl Sunday, February 5. Follow the conversation using the hashtag #DontDriveDrunk.
San Francisco’s Millennium Tower
The Bloomberg story posted today (February 1) on the insurance issues facing San Francisco’s sinking Millennium Tower is getting moderate attention on social. You can share the story with your audiences from Bloomberg’s lifestyle and luxury account on Twitter, @luxury.
IIHS Status Report
The latest IIHS safety ratings report on two all-electric vehicles is getting heavy pick-up on social. Follow @IIHS_safety on Twitter for the organization’s latest news.
MEDIA MATTERS
Carol Costello is leaving CNN effective Friday, February 3. CNN’s on-air anchor on weekdays, from 9 to 11 a.m., ET, is moving to California and will work for Headline News.
Brad Stone’s just-published The Upstarts (Hachette Book Group) chronicles the origins of Airbnb and Uber.
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
