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, March 4, please email Loretta Worters at lorettaw@iii.org.
CBS’S 60 MINUTES PROGRAM TO BROADCAST SANDY FLOOD CLAIMS DISPUTE STORY ON SUNDAY, MARCH 1
Sharyn Alfonsi is the on-air reporter, and the segment will focus on “allegations that thousands of homeowners were denied their flood insurance claims after Hurricane Sandy because of fraudulent engineers’ reports,” a CBS news release states.
CALIFORNIA BECOMES THE THIRD STATE TO BAN PRICE OPTIMIZATION; WALL STREET JOURNAL POSTS STORY ON THE ISSUE
The I.I.I.’s Bob Hartwig was quoted in this Wall Street Journal blog article, which was written after California’s news release was issued. The I.I.I. is readying a consumer-oriented article on the topic for its external website.
CNN SEGMENT ON GENERIC AUTO PARTS PROMPTS U.S. SENATOR TO ASK FOR U.S. JUSTICE DEPARTMENT INVESTIGATION INTO AUTO INSURER REPAIR PRACTICES
More than a week after CNN’s AC 360 broadcast a story on generic auto part use, U.S. Senator Richard Blumenthal (D-Connecticut) made this request of the U.S. Justice Department.
GOVERNORS OF ALABAMA, MISSISSIPPI AND GEORGIA TAKE ACTION AS WINTER STORM SWEEPS THROUGH THEIR STATES
Governor Robert Bentley (Alabama), Governor Phil Bryant (Mississippi) and Governor Nathan Deal (Georgia) all issued statements this week about the region’s unusually severe winter weather.
THE COST OF U.S. HOMEOWNERS CLAIMS ROSE DRAMATICALLY (1997-2013), EVEN AS THE NUMBER OF CLAIMS DROPPED, INSURANCE RESEARCH COUNCIL (IRC) STUDY FINDS
The highlights of Trends in Homeowners Claims, 2015 were summarized in a statement the IRC issued on Thursday, February 19. Homeowners claims are “a picture of volatility,” the I.I.I.’s Claire Wilkinson wrote, in her Terms+Conditions blog.
FITCH RATINGS ISSUES A NEW SPECIAL REPORT: U.S. PROPERTY/CASUALTY RESERVE EXPERIENCE—RESERVE RISK VERSUS PERFORMANCE
Fitch reviewed longer-term statutory loss reserve risk and development experience for a group of 40 of the largest U.S. P/C insurers, finding “considerable differences in company reserving performance on an accident year and calendar basis.”
STORIES IN THE WORKS
The I.I.I.’s Jeanne Salvatore provided information to ABC World News Tonight’s New York City-based consumer reporter Rebecca Jarvis on the issue of insurance coverage for winter-caused damage. Salvatore also gave interviews to Money magazine, The Portland (ME) Press Herald’s David Hench (insurance coverage for snow-caused roof damages), The (NY) Journal News’ Theresa Juva-Brown (potholes and auto insurance), and InsuraMatch.com’s Julia Quinn-Szcesuil (empty nester insurance needs).
The I.I.I.’s Hartwig discussed cyber risk coverage issues with Business Insurance’s Judy Greenwald.
The I.I.I.’s Michael Barry spoke with Bloomberg’s Alan Levin about the role states play in licensing insurers who may want to cover commercial drones. The news peg is this Federal Aviation Administration (FAA) statement on unmanned aircraft systems.
The I.I.I.’s Loretta Worters was interviewed by Reuters’ Julian Mincer about insurance coverage for winter-caused losses, and by Fox News’ Gary Gastelou about cars that are stolen and then found years later.
CAPITOL HILL
The U.S. Senate is holding hearings on systematically important financial institutions (March 17, 19) and the Financial Stability Oversight Council (March 24), according to this news release.
The U.S. House’s Financial Services Committee is convening on Tuesday, March 3, at 2:30 p.m., for a hearing entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.”
The Promoting Automotive Repair, Trade and Sales (PARTS) Act of 2015, which would expand consumer choice for automobile collision repair parts, its supporters argue, was introduced on Wednesday, February 25.
STATES
California
A Metrolink commuter train collided with a truck at an active railroad grade crossing in Oxnard (Ventura County) while traveling to Los Angeles on Tuesday morning, February 24. Thirty (30) train occupants were injured after four of the train’s cars derailed.
A 30-year-old woman was killed on Monday night, February 23, when a Caltrain express train struck her car at a grade level crossing in Menlo Park (San Mateo County).
Sacramento’s CBS affiliate broadcast a segment this week on an El Dorado County homeowner whose policy was non-renewed because of her home’s apparent risk to wildfire.
Georgia
Insurance Commissioner Ralph Hudgens announced his agency’s Consumer Services Division helped 9,719 policyholders receive $8.5 million in 2014 after resolving disputes with their insurance companies.
Massachusetts
The state’s Emergency Management Agency said this month’s record snowfall led to 118 roof collapses statewide in the 10 days prior to Friday, February 20, according to A.M. Best (subscription required). And claims adjusters are in demand, the Boston Globe reports.
Boston is the site of the annual Workers’ Compensation Research Institute (WCRI) Issues and Research Conference on Thursday, March 5, and Friday, March 6. The I.I.I.’s James Lynch will be in attendance.
Missouri
Kansas City is weighing a proposal which would require transportation network company (TNC) drivers to purchase a commercial insurance policy, according to a story that aired on KCUR, 89.3 FM, on Tuesday, February 24.
New York
The I.I.I.’s Salvatore provided facts and statistics for a Monday, February 23, New York City CBS affiliate segment on insurance coverage for winter-related storm damage.
Oklahoma
The I.I.I. issued a media advisory to alert reporters to the presence of the I.I.I.’s Lynne McChristian at the National Tornado Summit this week in Oklahoma City.
The Oklahoman filed stories on two Tornado Summit sessions. One dealt with the IRC’s report on homeowners claims severity, and the other said public storm shelters are often too small to accommodate enough people before a tornado strikes.
There is no need for state lawmakers to enact Senate Bill 436 because transportation network companies (TNCs) already provide sufficient insurance coverage to TNC drivers and passengers, according to a Tulsa World editorial by a former PCI president and CEO.
More than 2,500 of the state’s insurance professionals have completed a one-hour continuing education course on earthquake coverage, something Governor Mary Fallin required that they do after signing an emergency order to that effect, the AP reports.
South Carolina
Former Insurance Commissioner Eleanor Kitzman ended her bid to become the director of the state’s Department of Health and Environmental Control (DHEC).
Tennessee
A Senate committee is expected to discuss on Tuesday, March 10, a bill (SB0721) that would allow employers to opt out of the state’s workers compensation program if they design their own workers comp plan that meets certain requirements.
Texas
David Mattax, a lawyer who used to work in the state Attorney General’s office, was confirmed by the state Senate this week as the new Insurance Commissioner.
The Department of Insurance’s Division of Workers’ Compensation is presenting a workplace safety workshop for employers and employees on Wednesday, March 25, in San Antonio.
SOCIAL MEDIA REPORT
A segment, urging consumers to check their homeowners insurance policy to make sure it covers damages caused by extreme cold, which aired on New York City’s CBS affiliate on Monday, February 23, has been very popular on social this week. The piece also advised homeowners to act quickly, and file a claim, if they do have any significant losses. The I.I.I. was cited as a source.
The National Tornado Summit ends today (Wednesday, February 25) in Oklahoma. The I.I.I.’s McChristian has been tweeting updates on the proceedings. If you’d like to read her commentary, as well as those from other summit attendees, search the hashtag #NTS2015.
MEDIA MATTERS
Young adults aged 18 to 24 were surveyed about their primary sources for news, and placing first (34.5 percent) were online-only news sites. Yet respondents who said they relied on traditional media (e.g., a print newspaper) felt they were the most informed.
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.
