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, February 18, please email me at michaelb@iii.org.
CNN’s ANDERSON COOPER 360 AIRS SEGMENT ON AUTO INSURER USE OF AFTER MARKET CAR PARTS
Following the call, investigative reporter Drew Griffin’s story ran near the end of AC 360 on Wednesday, February 11.
PBS, CNBC BROADCAST STORY ON HOW SHARING ECONOMY IS CHANGING AUTO, HOME INSURANCE MARKETS
The I.I.I.’s Michael Barry taped an interview with CNBC’s Mary Thompson for a segment that aired on PBS’s Nightly Business Report and CNBC on Tuesday, February 10.
GOVERNOR DECLARES STATE OF EMERGENCY IN MASSACHUSETTS AMID RECORD SNOWFALL
In the wake of this season’s record snowfall, insurers have had to bring in additional adjusters to handle a wide variety of claims, from roofs that leak to road crashes, according to this Boston Globe story.
I.I.I. OFFERS ANALYSIS OF U.S. INSURANCE INDUSTRY EMPLOYMENT TRENDS, BASED ON FEDERAL GOVERNMENT DATA
For the 12 months ending in December 2014, P/C carrier employment rose by 6,900, or 1.3 percent, to 524,500. Employment by life/annuity carriers rose in December 2014 vs. December 2013 (up 9,200, or 2.7 percent) to 351,400. The presentation and the full commentary are posted online.
STORIES IN THE WORKS
The I.I.I.’s Bob Hartwig spoke with the Los Angeles Times about cyber risk insurance coverage after the Anthem data breach.
The I.I.I.’s Barry talked with Seattle’s NBC affiliate about the auto insurance repercussions of a new distracted driving bill (SB 5656) as well as the Hartford [CT] Courant (Dave Moran) and CBS Marketwatch (Bruce Kennedy) about winter storms and insurance.
The I.I.I.’s Loretta Worters gave interviews to North Carolina WWAY News Channel 3’s Makenzi Henderson (coastal property insurance market trends) and the Boston Business Journal’s Greg Ryan (how severe winter weather can trigger a business insurance policy).
CAPITOL HILL
The U.S. government plans to launch a new office that will assess and deter cyberattacks, according to Lisa Monaco, President Obama's homeland security adviser.
The millions of recalled U.S. vehicles in 2014 prompted the Obama administration to propose to almost triple the budget of the National Highway Traffic Safety Administration’s (NHTSA) Office of Defects Investigation.
STATES
Alabama
The state governments in New York and New Jersey have been buying privately held homes in hurricane-prone neighborhoods, according to the Mobile Press-Register, which also pointed to the financial troubles of FEMA’s National Flood Insurance Program.
California
About 40 homes were destroyed after a wildfire swept through the communities of Paradise and Swall Meadows on Friday, February 6.
Following one of its driest months on record, the San Francisco Bay area was hit last weekend (February 7-8) with heavy rainfall and strong winds.
Kansas
The Hutchinson News reports a geologist believes there is a correlation between the majority of the 120-plus earthquakes recorded in Kansas last year and the injection of wastewater into deep disposal wells.
Maryland
The Baltimore Sun posted the I.I.I. Hartwig’s response to the Consumer Federation of America’s op-ed piece on price optimization.
New Jersey
State Assemblyman Tim Eustace (D-Bergen/Passaic) has introduced a bill (A-4170) that would prevent home insurance companies from raising a customer’s insurance premium based on a single claim.
New York.
The Department of Financial Services (DFS) released this week a report on cyber security in the insurance industry. On a related note, the New York Insurance Association is holding a Cyber Security Summit in Albany on March 18.
Ohio
The Columbus Dispatch’s Saturday, February 7, print edition had a story that quoted the I.I.I.’s Hartwig offering a critique of Insurance Director Mary Taylor’s price optimization bulletin.
Oklahoma
The state had a record-setting year for earthquakes in 2014, with 585 quakes greater than a 3.0 magnitude—a sizeable increase from the 109 recorded in 2013.
Washington
A mudslide and flooding hit the rural town of Brinnon, 20-plus miles west of Seattle, on Friday, February 6.
SOCIAL MEDIA REPORT
A Forbes article is gaining traction in social media. It discusses the sharing economy and notes that while companies like Airbnb are prosperous they need to gain the trust of prospective customers who may be wary of doing business with strangers.
The I.I.I. issued a release before Valentine’s Day reminding people to insure their valuables, or any expensive gifts they may receive this weekend. In addition, the I.I.I.’s Valentine’s Day Pinterest board features informative articles and infographics.
In the aftermath of Wednesday night’s AC 360 story on auto body repair company disputes with auto insurers, here are the tweets the I.I.I found were getting re-tweeted most frequently.
https://twitter.com/AC360/status/565666624720891905
https://twitter.com/redanyc/statuses/565874202658750465
https://twitter.com/NeilNAMIC/status/565704167923417088
https://twitter.com/AC360/status/565741634617626626
MEDIA MATTERS
Lester Holt will host NBC’s Nightly News following NBC’s six-month suspension of anchor Brian Williams.
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.
