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 25, please email Michael Barry at michaelb@iii.org.
HEAVY RAIN AND SNOW CAUSE WIDESPREAD FLOODING IN CALIFORNIA AND NEVADA
The Sacramento-area flooding generated national media attention, as did the flooding in northwestern Nevada over the past week.
THE U.S. INCURRED 15 NATURAL DISASTERS IN 2016 WHERE ECONOMIC LOSSES EXCEEDED $1 BILLION, NOAA REPORTS
October’s Hurricane Matthew and August’s Louisiana flooding were by far the two costliest, totaling more than $10 billion each, according to the National Oceanic and Atmospheric Administration (NOAA).
STORIES IN THE WORKS
The I.I.I. provided information which will be incorporated into two articles—one on homeowners insurance and the other on auto insurance—in the March 2017 print edition of Consumer Reports.
The insurance Michigan State University secured to cover the institution in the event of employee misconduct is the focus of an upcoming story in the Lansing State Journal.
CAPITOL HILL
Since the call, the U.S. Treasury Department announced its successful completion of a covered agreement governing the regulation of U.S. insurers and reinsurers who do business in the European Union.
The Financial Stability Oversight Council (FSOC) met today (January 11) in a closed executive session.
Michael McRaith is stepping down as director of the Federal Insurance Office (FIO) effective Friday, January 20.
STATES
Alabama
Straight-line winds, rather than a tornado, caused four fatalities on Monday, January 2.
California
The I.I.I.’s Janet Ruiz blogged about the insurance implications of the heavy rainfall and flooding this week in the state’s northern counties.
South Lake Tahoe was hit by a severe snowstorm yesterday (January 10).
The Economist examined the insurance coverage Disney reportedly purchased to cover the late Carrie Fisher.
Florida
Clemson University quarterback DeShaun Watson grew up in a home built by Tampa-based Warren Dunn Charities. Before finding success in the NFL, Dunn was a beneficiary of his late mother’s life insurance policy.
Georgia
Robert Hartwig, former president of the I.I.I., testified on private-passenger auto insurance trends today (January 11) before a state legislative committee.
Iowa
Former Insurance Commissioner Nick Gerhart is joining West Des Moines-based FBL Financial Group later this month as its chief administrative officer.
Louisiana
The National Weather Service (NWS) reports at least eight tornadoes hit the state on Monday, January 2.
Mississippi
On that same day (January 2), nine tornadoes swept through 12 of the state’s counties.
Nevada
Governor Brian Sandoval issued flood preparation instructions for those residing and working in Carson City and four counties—Douglas, Lyon, Storey, and Washoe.
New York
A former project manager at a Long Island engineering firm, and the company itself, pled guilty this week to charges related to modifying post-Sandy flood damage assessment reports.
Attorney General Eric Schneiderman, jointly with the Federal Trade Commission, charged the manufacturer of Prevagen, a dietary-supplement, with falsely claiming the product improves memory.
Oklahoma
Two of the U.S.’s 15 costliest 2016 natural disasters occurred in Oklahoma, The Oklahoman reports.
Tennessee
Sevier County residents who had their vehicles either damaged or destroyed by the November 28—December 9, 2016, wildfires may be eligible for federal assistance, a FEMA news release stated.
SOCIAL MEDIA REPORT
California and Nevada floods
Both states are getting heavy attention on social and the I.I.I. is currently spotlighting insurance for landslides and mudslides on its homepage. To track the conversation, follow the hashtag #CAstorm.
NY’s Attorney General (AG) announces Sandy-related plea deals
The resolution of charges involving disputed Superstorm Sandy flood insurance claims is getting moderate attention on social. New York AG Schneiderman tweeted a press release yesterday (January 10) announcing two Sandy-related guilty pleas. You can find the story on our iiiorg twitter page and by following @AGSchneiderman on Twitter.
Annual Property/Casualty (P/C) Joint Industry Forum to be held in NYC on Tuesday, January 17
The Forum’s hashtag is #PCForum2017 and there is still time to register for the event. It is being held at New York City’s Waldorf-Astoria Hotel.
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.
