To recap the issues raised during today’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 19, please email me at michaelb@iii.org.
SOUTHEASTERN U.S. TO GET HIT WITH ANOTHER MAJOR SNOWSTORM, WHICH WILL THEN CONTINUE UP THE EASTERN SEABOARD
The I.I.I.’s Wednesday, February 12, media advisory on winter storms and insurance coverage issues linked to the National Weather Service updates on its path.
BLOOMBERG COVERS I.I.I. PRESIDENT’S PRESENTATION AT THE NATIONAL TORNADO SUMMIT IN OKLAHOMA CITY
The Bloomberg article was posted on Tuesday, February 11, the same day I.I.I. president Bob Hartwig highlighted how Oklahoma and Texas incurred the largest insured losses in 2013.
The I.I.I.’s Hartwig also presented a $10,000 check to the Moore Public Schools’ Tornado Relief Fund; Moore’s mayor estimated that 85 percent of the tornado-damaged town will be rebuilt.
U.S. INSURANCE INDUSTRY EMPLOYMENT NUMBERS TRENDED UPWARDS IN DECEMBER 2013, FEDERAL GOVERNMENT FINDS
Insurance agent/broker employment rose robustly in December 2013 and P/C carrier employment was also up, according to the U.S. Labor Department’s Bureau of Labor Statistics (BLS).
NEW YORK CITY PRESS CONFERENCE TO FOCUS ON ‘WHY THE INSURANCE INDUSTRY CARES ABOUT PHILANTHROPY’
The Thursday, February 13, event was postponed due to inclement weather.
WALL STREET JOURNAL HIGHLIGHTS THE WAYS DIFFERENT STATE LAWS ON GAY MARRIAGE COULD IMPACT AUTO INSURERS
The Federal Insurance Office believes auto insurers should consider giving discounts to policyholders in same-sex marriages, The Wall Street Journal reported, on Monday, February 10.
STORIES IN THE WORKS
The I.I.I.’s Hartwig and Jeanne Salvatore spoke with USA Today’s Rick Hanson for an article on the perils of living in various U.S. states, and the need to have the proper insurance coverage.
The I.I.I.’s Salvatore gave an interview to the Philadelphia Inquirer’s Alan Heavens for a Sunday, February 23, story about coverage for winter-caused damages to a home.
The I.I.I.’s Steve Weisbart may speak this week with The Wall Street Journal’s Brett Arends about 770 Accounts, a type of whole life insurance.
CAPITOL HILL
The U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) is convening on Thursday, February 13, but not in public.
STATES
California
The FBI has identified no suspects as yet in an April 2013 military-style raid on a Pacific Gas & Electric substation, The Los Angeles Times reported, in a Tuesday, February 11, article.
U.S. Senator Dianne Feinstein wants energy regulators to determine whether stronger standards are needed to secure the nation’s electronic grid, according to a Friday, February 7, release.
There are have been 487 wildfires so far in 2014, compared with only two for the same period a year ago, the state’s Forestry and Fire Protection Department told Bloomberg this week.
The Peer-to-Peer Rideshare Coalition, a group that includes insurers and regulators, will meet later this month, the San Francisco Chronicle reported, on Tuesday, February 11.
Colorado
Lyft and Uber would be placed under state Public Utilities Commission oversight, if Senate Bill 125 were enacted, according to this Tuesday, February 11, Denver Post article.
Florida
In the run-up to the Tuesday, March 11, special Congressional election in the Tampa area, Alex Sink’s 2008 vote on extending a homeowners policy assessment is being revisited.
Vice President Joe Biden is the featured guest at a Sink for Congress fundraiser in Coral Gables on Wednesday evening, February 12.
Louisiana
The 5th U.S. Circuit Court of Appeals upheld a lower court ruling, which said a Chinese drywall company must pay $2.7 million in damages, the AP reported, on Wednesday, February 12.
The U.S. House will soon have an acceptable alternative to 2012’s Biggert-Waters Flood Insurance Reform Act, the Financial Services committee chairman told the Times-Picayune.
Minnesota
Commerce Commissioner Mike Rothman appeared in this Monday, February 10, Minneapolis CBS affiliate segment on how to detect a fraudulent auto insurance broker.
North Carolina
The Insurance Department estimates $120 million of the $890 million insurers disbursed last year to disability claimants were fraudulent, in this Monday, February 10, Charlotte TV story.
Ohio
Claim denials were the top consumer complaint in 2013, with accident/health the coverage receiving the most complaints, the Insurance Department reported on Thursday, February 6.
Oregon
Claims from collapsed roofs, burst pipes, and car accidents emerged after the recent Portland-area snowstorm, Oregon Public Broadcasting reported, on Tuesday, February 11.
Pennsylvania
A civil engineering professor at Penn State is conducting research on how bridges can survive both flooding and seismic activity, through a National Science Foundation grant.
Washington
Insurance Commissioner Mike Kreidler says his office should remain an elective post, rather than an appointive one, according to this Monday, February 3, news release.
A 56-year-old businessman was ordered to pay $15,000 restitution, and $550 to a victims assistance fund, on Friday, February 7, for selling fraudulent hole-in-one golf tournament policies.
SOCIAL MEDIA REPORT
The National Tornado Summit was held this week (February 10-11) and received some social media attention. One popular tweet noted that Oklahoma is the most expensive land-locked state in the U.S. for homeowners insurance.
In other social news, the Winter Olympics began last week and the I.I.I. has initiated a social media campaign, along with the hashtag #Olympics, to inform people about insuring sports events, and related topics. One of the I.I.I.’s most popular tweets was clicked on over 130 times.
In addition, the I.I.I. is now on Buzzfeed. Our first article, where we analyzed what your favorite British Invasion Band says about your insurance needs, has garnered some media attention. The piece was pegged to the 50th Anniversary of The Beatles’ first live performance on American TV.
With another winter storm headed to the East Coast, social media has been buzzing about how to prepare, and even the Mayor of Atlanta is letting everyone know his city is ready for its second snowfall of the season.
MEDIA MATTERS
Opening Bell with Maria Bartiromo will air weekdays on Fox Business Network (FBN), from 9 to 11 a.m., ET, starting on Monday, February 24.
Given Bartiromo’s arrival, FBN is moving Stuart Varney to 11 a.m., ET. In addition, Melissa Francis transfers to 2 p.m., ET, from 5 p.m., ET, and Gerri Willis to 5 p.m., ET, from 6 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
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