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 11, please email Michael Barry at michaelb@iii.org.
21st ANNUAL PROPERTY/CASUALTY JOINT INDUSTRY FORUM TO BE HELD IN NEW YORK CITY ON TUESDAY, JANUARY 17
To register for the Forum, follow this link. The luncheon speaker for the event is Charlie Cook, editor and publisher of the Cook Political Report and a columnist for the National Journal.
HURRICANE MATTHEW AND LOUISIANA’S AUGUST FLOODS WERE AMONG THE FIVE COSTLIEST NATURAL DISASTERS WORLDWIDE IN 2016
Nearly 40 percent of the $10 billion in Matthew-caused losses in October were insured while only 25 percent of Louisiana’s $10 billion flood event in August was covered by insurance, according to Munich Re.
U.S. RECORDS FEWEST TORNADO DEATHS IN 30 YEARS
The 17 fatalities in 2016 were the fewest since 1986, when 15 Americans died as a result of tornadoes.
I.I.I. SEEKING GUIDANCE ON WHETHER A HOMEOWNERS POLICY COVERS DRONE-RELATED LIABILITY CLAIMS
The I.I.I.’s Loretta Worters (lorettaw@iii.org) spoke with The Baton Rouge Advocate’s Ted Griggs about the issue, and she welcomes input on what a standard homeowners policy would, and would not, cover when drones are involved.
STORIES IN THE WORKS
The I.I.I.’s Worters gave interviews to M.P. McQueen of American Lawyer (cyber insurance) and Erin Ayers of Advisen (U.S. Treasury’s guidance on cyber and TRIA; see CAPITOL HILL).
The I.I.I.’s James Lynch discussed the findings of the I.I.I.’s auto insurance white paper with Alex Hess of Grant’s Interest Rate Observer.
The I.I.I.’s Michael Barry spoke with Kate Cimini of VICE about workers compensation insurance. She is preparing a piece on how w/c coverage may impact players in the National Women’s Hockey League.
Scott Ryan of Detroit’s WJJ, an all-news radio station, is readying a story on the insurance implications of a sinkhole that emerged because of a Christmas Eve sewage line collapse in Fraser (Macomb County).
Sacramento’s ABC affiliate is exploring whether an auto policy’s comprehensive coverage extends to a car damaged by rats (e.g., to a vehicle’s internal wiring).
CAPITOL HILL
Stand-alone cyber insurance policies reported under the “cyber liability” line are subject to the Terrorism Risk Insurance Act’s (TRIA) reporting requirements, according to U.S. Treasury Department guidelines.
The Guide for Cybersecurity Event Recovery was released late last month by the U.S. Commerce Department’s National Institute of Standards and Technology (NIST).
FEMA has transferred $1 billion in National Flood Insurance Program (NFIP) risks—above a $4 billion deductible—to 25 reinsurance companies.
STATES
Alabama
Four people died after a tornado hit a tree, which then struck their mobile home, on Monday night, January 2, in Rehobeth (Houston County).
The same weather system also caused flash flooding in Clarke and Mobile counties and property damage in Gulf Shores, one of the state’s most popular tourist destinations.
Residential and commercial policyholders who build or retro-fit their properties to IBHS FORTIFIED standards are eligible for substantial wind mitigation discounts, the Insurance Department stated, in a new release.
California
The Wall Street Journal reports numerous defendants, including the building’s owner, were named in the first civil lawsuits filed in the wake of the Oakland fire, which killed 36 people last month.
Reuters reported Tesla Motors Inc. was sued by a Model X owner who said his vehicle suddenly accelerated while he was parking.
Snowpack in the resort town of Phillips, Calif., measured just 53 percent of the seasonal average as of this week.
Pointing to a series of storms across the northern part of the state over the weekend of December 31-January 1, which dropped more than 20 inches of snow on the Sierra Nevada mountain range, government officials said there was reason for optimism as the state entered its sixth year of drought-like conditions.
Florida
The Tampa Bay Times reports the state is so dry that a wildfire threat looms. The National Weather Service predicts a minor La Nina could also reduce normal rainfall amounts by more than 50 percent through February.
Thirty homes in St. Augustine (St. Johns County) will be demolished because of the substantial damage they incurred after Hurricane Matthew struck the city in October 2016, Jacksonville’s CBS affiliate reports.
The I.I.I.’s Lynne McChristian was interviewed by SNL Financial about the two 2016 hurricanes that impacted Florida: Hermine and Matthew.
Georgia
About 1,500 traffic fatalities occurred statewide in 2016, the highest number of deaths on Georgia’s roadways in a decade, according to a story on Atlanta’s National Public Radio affiliate.
Illinois
Jennifer Hammer will succeed Anne Marie Dowling as the state’s next Insurance Director, Governor Bruce Rauner announced.
Indiana
Insurance Commissioner Stephen Robertson was reappointed to his current post by Governor-elect Eric Holcomb.
Louisiana
FEMA’s National Flood Insurance Program (NFIP) saw a substantial increase in the number of NFIP policies sold statewide between August—October 2016. The policy count grew by about 11,000, and now exceeds 480,000.
New Jersey
There were 607 traffic fatalities statewide in 2016, an 8 percent increase from 2015 (562 deaths), according to preliminary state police statistics.
New York
Since the call, Buffalo’s NBC affiliate has reported property insurers can, under a new state law, offer policyholders a financial incentive to complete a course on how to make their residence more resilient to a natural disaster.
The Department of Financial Services (DFS) issued an updated version of its proposed cybersecurity regulation, and said the final measure will take effect on March 1, 2017.
North Carolina
Newly elected Insurance Commissioner Mike Causey spoke with The Raleigh News & Observer during his first week in office.
North Dakota
Insurance Commissioner Jon Godfread appointed Jeff Ubben as deputy insurance commissioner and Marcy Ost as executive assistant on his first official day in office.
Oklahoma
The Oklahoman’s editorial board praised regulators’ plans to have hydraulic fracturing operations halted in the event of a 3.5-magnitude or higher quake.
Texas
The Dallas Morning News revisited the Dallas County communities hit by 12 deadly tornadoes on December 26, 2015. The article reports a few of the 6,000-plus residential claims remain open.
SOCIAL MEDIA REPORT
Deadly Storms in the Southeastern U.S.
The severe weather in multiple southeastern U.S. states is getting heavy attention on social. The I.I.I.’s latest facts and statistics on tornadoes and thunderstorms are currently being highlighted on our homepage. For further weather updates for Alabama, the site of a deadly tornado this week, follow @NWSBirmingham and @NWSHuntsville on Twitter.
Fraser, Michigan Sinkhole
The sinkhole, which generated significant media coverage in Detroit, is getting moderate attention on social. Ohio-based Diversified Insurance tweeted an article on the lack of coverage for the homeowners impacted by the sinkhole. You can find the article and retweet it with your audiences by following the agency on Twitter at @divinsurance.
North American International Auto Show
The North American International Auto Show began on Sunday, January 8 and ends on Sunday, January 22. The I.I.I. will be pushing out auto insurance content, on both its website and social media, in the next few weeks. You can track the discussion around the event by using the hashtag #NAIAS. Also, follow @NAIASDetroit on Twitter and visit facebook.com/NorthAmericanInternationalAutoShow for the latest updates.
MEDIA MATTERS
Sam Champion left The Weather Channel at year-end 2016.
Megyn Kelly is joining NBC News. Kelly’s 12-year run at the Fox News Channel (FNC) concluded on Friday, January 6.
Gretchen Carlson, a former FNC anchor, will begin writing a column this month for Time Magazine’s Motto.
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.
