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, July 9, please email me at michaelb@iii.org.
ARTHUR BECOMES THE FIRST HURRICANE OF THE 2014 SEASON; MAKES LANDFALL IN NORTH CAROLINA AS CATEGORY 2 STORM
Arthur made landfall on Thursday, July 3 , as a Category 2 storm at Cape Lookout, North Carolina. The I.I.I.’s Bill Davis discussed Arthur in a Weather Channel interview on Tuesday, July 1.
I.I.I.’s PRESIDENT IS INTERVIEWED FOR CNBC STORY ON GROWING INTEREST IN CYBER RISK INSURANCE COVERAGE
The I.I.I.’s Bob Hartwig spoke with CNBC for a Tuesday, July 1, piece on “why cyber insurance will be the next big thing.”
REINSURERS ARE WITHDRAWING TERRORISM EXCLUSION CLAUSES AMID CHANGES IN MARKETPLACE, FINANCIAL TIMES REPORTS
Willis says reinsurers are withdrawing the terrorism exclusion clauses they added in the wake of 9/11 as competition pushes reinsurance prices down, the FT reported (subscription required).
TREASURY DEPARTMENT ANNOUNCES NEW RULES ALLOWING WORKERS TO PURCHASE LONGEVITY INSURANCE WITHIN RETIREMENT PLANS
Longevity annuities can provide income to boomers reaching retirement age for the remainder of their lives, according to this Wednesday, July 2, New York Times print edition story.
STORIES IN THE WORKS
Tom Sussi, chief investigative reporter for Columbus, Ohio’s ABC affiliate, is doing research on the insurance industry implications of unlicensed undocumented workers who drive.
Donna Gehrke of Florida’s Sun-Sentinel is examining the legal bills Citizens Property Insurance Corporation has incurred because of disputed water damage claims.
Matt Sturdevant of The Hartford Courant says Creative Edge CEN Bio/RNB, Inc. claims to be the first to offer “marijuana liability insurance in North America to licensed producers.”
Leslie Scism of The Wall Street Journal is looking to develop a page-one piece on quirky insurance coverages, and is reading LIMRA research on life insurance trends for story ideas.
Nikki Ibarra, a KOB Eyewitness News 4 reporter, is examining New Mexico’s new ban on texting and driving, and what it might mean for the state’s auto insurance market.
Luciana Lopez, a Manhattan-based Reuters reporter, may write a piece on how insurers are dealing with one of the most prolonged periods of low interest rates in U.S. history.
CAPITOL HILL
The U.S. Department of Agriculture’s Risk Management Agency filed on Monday, June 30, an interim rule to move forward with crop insurance changes made in this year’s Farm Bill.
STATES
California
The Butts Fire has burned more than 3,000 acres in Napa County since it began on Tuesday, July 1, prompting mandatory evacuations, according to this San Francisco CBS affiliate segment.
The Governor’s Office of Emergency Services has rejected Orange County’s request for state funds to repair properties damaged by the 5.1-magnitude La Habra earthquake in March 2014.
Georgia
The I.I.I.’s Davis and the National Insurance Crime Bureau were sourced in this segment on staged accident scams, which was broadcast on Atlanta’s CBS affiliate on Monday, June 30.
Illinois
Five tornadoes touched down south of Chicago on Monday, June 30, hitting Morris (Grundy County) hardest, according to this Chicago NBC affiliate story on the severe weather.
Iowa
Governor Terry Branstad issued a disaster proclamation for six counties on Wednesday, July 2, in response to the flooding and severe weather that began on Monday, June 26.
Louisiana
Starting in May 2015, the state Department of Insurance’s website will include information on home insurers’ incurred losses and rate methodology, in accordance with House Bill 909.
Massachusetts
Attorney General Martha Coakley favors a bill prohibiting lenders from requiring homeowners to purchase flood insurance in an amount exceeding the outstanding balance on their mortgage.
Mississippi
Under a new state law, insurers must notify policyholders in writing each year if their policy has a hurricane/named storm deductible, according to this Sunday, June 29, Clarion Ledger story.
New Mexico
Last week the Public Regulation Commission rejected a request by Uber for a temporary permit to operate in Bernalillo County and Rio Rancho, the Albuquerque Journal reported.
North Carolina
The Washington Post revisited the state legislative debate over climate change and rising sea levels, with a story filed from Nags Head, on the state’s Outer Banks.
Ohio
The Bureau of Workers’ Compensation (BWC) is appealing a ruling that ordered the BWC to pay a total of $860 million to employers for allegedly overcharging them.
The fee insurers pay to “appoint” insurance agents dropped to $15 from $20 effective Monday, June 30, Lieutenant Governor and Insurance Director Mary Taylor announced.
Oklahoma
A standing-room-only crowd gathered in Edmond for a public hearing exploring whether fracking is the reason the state has been the site of so many earthquakes over the past year.
Pennsylvania
Neither Uber nor Lyft can operate in the state for now because a judge has backed a Public Utility Commission request to keep their drivers off the road, the Pittsburgh Post-Gazette says.
South Carolina
The Department of Insurance (DOI) has extended until Friday, August 1, the temporary adjuster permits DOI issued in the wake of a Friday, May 23, hail storm.
SOCIAL MEDIA REPORT
Mashable posted a photo showing the ominous skies above Chicago on Monday, June 30, along with an article depicting how the severe weather extended northward to Milwaukee.
It was shared over 900 times, and re-tweeted more than 150 times, in the past few days.
Meanwhile, people residing along the Atlantic seaboard were tracking Arthur, and NASA posted a space-view photo of Arthur which was shared over 1,500 times.
With the holiday weekend approaching, the I.I.I. will be sharing via social media articles, tips and videos on how to have a safe July 4th weekend.
The I.I.I. has created a Pinterest Board called Safe Summer Fun, where we will be posting tips and articles on issues like swimming pool and grilling safety.
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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