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.
There will NOT be an all-industry call on Wednesday, June 14, because the I.I.I. communications committee is meeting on that day in Washington, D.C. The next call is scheduled for Wednesday, June 21, at 2:30 p.m., ET.
I.I.I.’s CEO Writes Linkedin Article On Creating A Resilience Movement
The I.I.I.’s Sean Kevelighan also noted in the piece that the insurance industry’s commitment to resilience spreads far beyond advanced risk modeling/reporting and the astute management of capital.
Six States Face ‘Above-Normal’ Wildfire Risk In June 2017
Arizona, California, Florida, Georgia, Hawaii and New Mexico made the National Interagency Fire Center’s list.
Delaware Weighs Changes To Auto Insurance Rating Factors
A Wednesday, June 7, House committee hearing focused on policyholders aged 75 and older, and those who are either widows or widowers (see House Substitute (HS) 1).
Truckers Are Costing U.S. Insurers Millions Of Dollars
The U.S. commercial auto insurance market lost $716 million, before taxes, on its policies last year, with costs totaling nearly $112 for every $100 in premium collected, according to research cited in a Monday, June 5, Wall Street Journal (WSJ) article (subscription required).
STORIES IN THE WORKS
The I.I.I.’s Loretta Worters briefed the WSJ’s Robyn Friedman on what insurance coverage policyholders need when they are renovating a home.
The I.I.I.’s Claire Wilkinson spoke with Bloomberg’s New York City-based Polly Mosendz about libel/slander insurance coverage for non-journalists.
The I.I.I.’s James Lynch was interviewed by Kyle Campbell of the The New York Daily News about the insurance implications of driverless vehicles.
The I.I.I.’s Michael Barry provided information about insurance coverage for parked cars hit by shopping carts to Birmingham, Alabama, ABC affiliate reporter Brian Pia.
CAPITOL HILL
Flood Insurance Reform: A Taxpayer’s Perspective was the subject of a U.S. House of Representatives’ hearing today (June 7) in Washington, D.C.
The consumer privacy and security issues posed by automated and connected motor vehicles will be the subject of a workshop on Wednesday, June 28, at the Federal Trade Commission (FTC), 400 7th Street, SW, Washington, D.C.
STATES
Arkansas
A Little Rock-based businessman who fraudulently acted as an insurance agent was sentenced to five-plus years in prison and ordered to pay nearly $900,000 in restitution.
California
Two men were charged with multiple counts of involuntary manslaughter this week for the roles they played in December 2016’s deadly Oakland warehouse fire.
The Orange County District Attorney charged 16 people, 10 of them attorneys, with participating in a multi-million dollar workers compensation insurance referral scheme.
A Richmond homeowner’s fire-related claim payout from 2011 should have been $320,000-plus, rather than the $75,000 the Fair Access to Insurance Requirements (FAIR) Plan Association said it owed, according to a San Francisco Chronicle article on an appeals court decision. Insurance Commissioner Dave Jones sided with the homeowner in the legal dispute.
The owner of GMG Janitorial was charged with allegedly falsifying documents and underreporting payroll to her workers’ compensation insurer between 2009 and 2016.
Florida
The cost of property insurance is climbing statewide in part because of assignment of benefits (AOB) abuse, according to the Ft. Myers News-Press.
Fort Myers’ ABC affiliate blamed AOB abuse for rising property insurance rates, too.
An Ocala Star Banner editorial said last year’s hurricane season was a reminder that no one should take it lightly.
Palm Beach-based Weiss Ratings says only seven of the state’s property insurers are financially sound, the Palm Beach Post reports.
Record amounts of rain hit South Florida this week, with 4-plus inches falling yesterday (June 6) at Palm Beach International Airport and Fort Lauderdale, breaking records set in 1904 and 1926, respectively.
Georgia
To avert future fires such as the one that collapsed a portion of I-85 on March 30, policymakers need to regulate the types of materials stored under highway bridges, a preliminary engineering report recommends.
The state’s Supreme Court ruled unanimously to affirm a $32.2 million judgement against Six Flags of Georgia where, in 2007, a 19-year-old patron incurred permanent brain damage.
Louisiana
FEMA will no longer fund temporary housing for August 2016 flood victims, a move that left 70-plus families without a place to live this week, The Baton Rouge Advocate reports.
Mississippi
The state’s deteriorating roadways are adversely impacting the economy and have contributed in part to higher fatality rates on non-interstate roads, the Biloxi Sun-Herald reports.
Missouri
Federal financial assistance is available for individuals in 27 counties, and governments in 46 counties, following the severe weather and flooding from April 28 – May 11, 2017.
New Hampshire
Local governments in Belknap and Carroll counties are eligible for federal financial assistance following the severe winter storm of March 14 – 15, 2017.
Nevada
Governor Brian Sandoval signed into law Senate Bill 308, raising the state’s private-passenger auto insurance mandatory minimum liability coverages to $25,000/$50,000/$20,000 from $15,000/$30,000/$10,000, effective July 1, 2018.
New Jersey
Phil Murphy, a Democrat, and Lieutenant Governor Kim Guadagno, a Republican, won their parties’ primaries this week and will face one another in November’s gubernatorial election.
New York
NY 1 is premiering on Wednesday, June 14, a segment that offers a critical look at New York City’s post-Sandy Build It Back program.
A Lindenhurst (Suffolk County) contractor has been unable to complete Sandy-related repair work at two homes despite having already been paid, News 12 Long Island reported last night (June 6, subscription required).
South Carolina
Auto insurance rates rose nearly 9 percent on average last year as the frequency and severity of crashes increased statewide, the Charleston Post & Courier reports.
Texas
Governor Greg Abbott signed into law House Bill 1774. The measure’s proponents say it will reduce the filing of frivolous lawsuits related to weather disasters, such as hail storms.
SOCIAL MEDIA REPORT
2017 National Fire Protection Association (NFPA) Convenes in Boston
The 2017 NFPA Conference and Expo is being held this week (June 4 – 7) in Boston.
Follow @NFPA and @Firewise on Twitter, and use the hashtag #NFPAconf to track the conversation.
For further updates and projections relating to this year’s wildfire season, the Boise Idaho-based National Interagency Fire Center is on Twitter at @BLMNIFC.
Insurance Industry Charitable Foundation (IICF) Hosting Women in Insurance Global Conference in New York City
The I.I.I.’s Worters will be tweeting from the IICF’s Women in Insurance Global Conference, which is being held this week (June 7 – 9) in New York City. Follow the IICF on Twitter at @doubleicf and Worters at @III_LorettaW. Use the hashtag #iicfdiversity for updates from inside the event.
MEDIA MATTERS
NBC National Investigative Correspondent Jeff Rossen’s book, Rossen to the Rescue: Secrets to Avoiding Scams, Everyday Dangers, and Major Catastrophes, will be published in October 2017.
