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 4, please email me at michaelb@iii.org.
I.I.I. ISSUES MULTIPLE RELEASES ON COVERAGE ISSUES AS HEAVY SNOWSTORM HITS EAST COAST
This Monday, January 26, news release prompted reporters to contact the I.I.I., with the I.I.I.’s Jeanne Salvatore appearing on NBC’s New York City affiliate, and the I.I.I. getting mentions in The Boston Globe and on PBS’s Nightly Business Report.
PROPERTY/CASUALTY INSURERS’ NET INCOME AFTER TAXES FELL IN FIRST NINE MONTHS OF 2014 AS COMPARED TO 2013’s FIRST NINE MONTHS
Private U.S. P/C insurers’ net income after taxes fell to $37.7 billion in nine-months 2014 from $42.7 billion in nine-months 2013. I.I.I. president Bob Hartwig and I.I.I. chief economist Steven Weisbart co-authored this analysis.
I.I.I. OFFERS SAME-DAY RESPONSE TO CONSUMER FEDERATION OF AMERICA’S (CFA) TELECONFERENCE ON AUTO INSURANCE PRICING
On Monday, January 26, the I.I.I.’s statement was posted online soon after the CFA issued this news release on the cost of auto insurance for low-and moderate-income Americans who finance their car purchases.
WALL STREET JOURNAL’S PERSONAL FINANCE BLOG REPORTS ON INSURANCEQUOTES.COM SURVEY
A low-risk driver who files an auto insurance claim can see their insurance bill jump substantially upon receipt of their next renewal notice, according to a survey conducted by InsuranceQuotes.com.
STORIES IN THE WORKS
The New York Times’ David Chen is readying an article on disputed Sandy flood claims. The news peg is a Thursday, February 19, Brooklyn judicial hearing. Chen spoke on background with the I.I.I.’s Michael Barry, and also plans to interview the I.I.I.’s Hartwig.
The I.I.I.’s Loretta Worters briefed Money magazine’s Kerri Renzulli (snow shoveling and liability), Rural Builder’s Mark Ward (building contractors and liability), Reuters’ Luciana Lopez (winter storms’ impact on businesses) and Best’s Review’s Lori Chordas (covering older drivers).
The I.I.I.’s Salvatore is helping Susannah Snider of U.S. News & World Report on a story about student loans and life/disability insurance. A few experts have pitched these policies as a good way to protect students and their co-signers in the event of a death or illness.
CAPITOL HILL
Improved vehicle designs have brought down driver death rates, according to this Insurance Institute for Highway Safety (IIHS) study.
Rebuilding After the Storm: Lessening Impacts and Speeding Recovery was discussed at a U.S. House subcommittee hearing in Washington, D.C., on Tuesday, January 27. PCI issued a news release on the proceedings.
Fox Business Network’s John Stossel will feature on his Friday, February 6, program a debate about how FEMA’s National Flood Insurance Program (NFIP) should be reformed.
The Federal Advisory Committee on Insurance will hold its first open session meeting of 2015 on Tuesday, February 10.
STATES
California
The I.I.I.’s Janet Ruiz reports MetroMile has obtained approval for a personal auto insurance policy that covers Uber X drivers. She is also working with The Desert Sun’s Rosalie Murphy for a story on cyber insurance for small businesses.
Georgia
Georgia is the least disaster-prone state in the South and one of the safest places in the country when it comes to natural disasters, according to a Washington Post analysis of FEMA data going back 50 years.
Florida
The state’s smaller property insurers should be subject to financial stress tests, Chief Financial Officer Jeff Atwater told the Florida Chamber of Commerce on Tuesday, January 27.
Maryland
Insurance Commissioner, Al Redmer Jr., believes the state needs more insurance companies, and he is making plans to attract them.
Michigan
Edmunds.com took a sledgehammer to the 2015 F-150 to determine how much more it costs to repair an aluminum vehicle.
Mississippi
The state’s Supreme Court will consider whether a judge correctly dismissed a Biloxi homeowner’s Katrina lawsuit against State Farm and Grand Casino. The plaintiff, whose home was damaged by an unmoored casino barge, wants her case heard by a Harrison County jury.
New York
Assembly Speaker Sheldon Silver, who held that position for 20-plus years, resigned as head of the state Assembly but maintained his legislative seat, after federal charges were filed against Silver.
North Carolina
Insurance Commissioner Wayne Goodwin’s denial of the Rate Bureau’s homeowners rate hike request has prompted a few insurers to send “consent to rate” letters to policyholders, the Associated Press reports.
Washington
State Senator Cyrus Habib (D-Kirkland) has introduced Senate Bill 5550. If enacted, it would provide a statewide framework to protect passengers, drivers and the public, while allowing companies such as Uber, Lyft and others to operate legally in Washington.
SOCIAL MEDIA REPORT
2015’s first blizzard is the most popular topic on social this week. National Weather Service meteorologist Gary Szatkowski apologized on Twitter for the “big forecast miss” and it immediately went viral. Besides that, much of social media conversation has been about being safe during the storm while the Boston Globe reports that local insurance companies are preparing for a surge of calls following the blizzard. The Twitter hashtag #blizzardof2015 links to many pictures of the storm.
The I.I.I. has initiated a social media campaign to promote responsible social hosting for Super Bowl parties starting with a press release issued today. And Google is becoming a wireless carrier.
The I.I.I.’s Monday, January 26, news release on winter weather, and what’s covered by your insurance, was clicked on social more than 100 times in the past few days. It was also picked up by several media outlets including The Wall Street Journal.
MEDIA MATTERS
The Advocate’s circulation now exceeds the Times-Picayune’s, making the Advocate Louisiana’s largest newspaper.
Ryan Young is joining CNN’s Chicago bureau. Young had been an on-air reporter with Atlanta’s ABC affiliate since 2005.
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.
