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, June 8, please email me at michaelb@iii.org.
U.S. ENVISIONS NEAR-NORMAL ATLANTIC HURRICANE SEASON
The National Oceanic and Atmospheric Administration (NOAA) says there’s a 70 percent chance of 10 to 16 named storms forming between June 1-November 30, 2016.
NEARLY 7 MILLION HOMES ARE AT POTENTIAL RISK TO HURRICANE STORM SURGE DAMAGE, STUDY FINDS
CoreLogic examined 19 states along the Atlantic and Gulf coastlines.
U.S. DEATH RATE INCREASED IN 2015 AS COMPARED TO 2014
The U.S. death rate rose to 729.5 deaths per 100,000 people in 2015, up from 723.2 per 100,000 in 2014, according to the National Center for Health Statistics.
STORIES IN THE WORKS
The I.I.I.’s Elianne Gonzalez is taping an interview with Miami’s Univision 23 on Thursday, June 2, about insurance and hurricane preparedness.
The I.I.I.’s Loretta Worters is working with CBS MoneyWatch’s Ed Leefeldt (CoreLogic’s storm surge study) and Value Penguin’s Mike Thrasher (Oklahoma and earthquake insurance).
The I.I.I.’s Michael Barry gave an interview to The Las Vegas Review Journal’s Keith Griffin on the issue of driverless cars.
The I.I.I.’s Hartwig and Lynne McChristian are co-authoring an article on driverless cars for an upcoming edition of The Journal of Insurance Regulation.
CAPITOL HILL
The Federal Reserve’s Board of Governors is holding an open meeting on Friday, June 3, at 3 p.m., regarding capital requirement proposals for insurers.
The Financial Stability Oversight Council (FSOC) must submit no later than Friday, September 9, its written appeal of U.S. District Judge Rosemary Collyer’s decision (subscription required) to set aside FSOC’s designation of MetLife as a systemically important financial institution.
The U.S. Supreme Court announced this week it will consider State Farm’s appeal of a Katrina case (see page 2).
STATES
California
In the wake of last year’s San Bernardino terrorist attacks, federal prosecutors are moving to block Rafia Farook’s claim to the $275,000 from her 28-year-old son’s two life insurance policies.
A 2012 law (SB 863) aimed at reducing workers’ compensation insurance medical costs is having a favorable impact on the state’s businesses, according to Insurance Commissioner Dave Jones.
Actress Rita Moreno, a Berkley resident, is the newest spokeswoman for InsureU, the National Association of Insurance Commissioners’ (NAIC) consumer education website.
Connecticut
The city of Hartford is threatening to file a claim against the insurer of Dunkin Donuts Stadiums’ developer.
Florida
A majority of the state’s home insurers have brief histories, and their ability to manage a large catastrophic hurricane is uncertain despite recent strong performance, according to a Fitch Ratings analysis.
A Clearwater-based home insurer, whose growth was fueled by assuming Citizens’ policies, cumulatively paid two executives more than $20 million in 2014 and 2015.
The Daytona Beach News-Journal reports the number of auto accidents statewide rose 63 percent between 2011-2015, with deaths (+21 percent) and injuries (+34 percent) also increasing over these same five years.
Two people died, and 57 others were hospitalized, after attending The Sunset Music Festival last weekend (May 28-29) at Tampa’s Raymond James Stadium.
Hawaii
While posing no immediate threat either to lives or property, two new Kilauea lava flows emerged over the past week on the Big Island.
Kansas
Chapman’s 1,400 residents were given 16 minutes advance warning by the National Weather Service’s Topeka office before a tornado reached Chapman on Wednesday, May 25.
Louisiana
Richard Newberry has been named chief executive officer of Louisiana Citizens Property Insurance Corp.
Minnesota
Minneapolis-based General Mills announced a voluntary recall of nine retail flour products amid a governmental inquiry into the causes of E. coli illnesses in 20 states.
Mississippi
The Clarion-Ledger reports double-digit percentage auto insurance rate increases are on the horizon as the frequency and severity of claims rise.
Oklahoma
A 3.1 magnitude earthquake was recorded in Luther, about 28 miles east of Oklahoma City, on Tuesday morning, May 31.
South Carolina
Bonnie made landfall as a tropical depression on Sunday morning, May 29, east of Charleston, and the system’s rainfall caused flooding in Archdale and Ridgeland.
Texas
Torrential rainfall has led to overflowing rivers, with much of the state at risk of flash flooding this week.
Washington
Break in the Ice: Climate Risk and the Insurance Industry is the name of a forum being held today (June 1) at the University of Washington in Seattle.
SOCIAL MEDIA REPORT
NOAA’s Hurricane Season Outlook
NOAA issued its 2016 Atlantic hurricane season forecast at a Friday, May 27, press conference and then posted a video of Dr. Gerry Bell, NOAA’s lead seasonal hurricane forecaster, discussing this year’s outlook.
Dr. Bell answered questions today (June 1) about the science behind NOAA’s hurricane season predictions during a Reddit Science “Ask Me Anything” forum.
Use the hashtag #HurricaneSeason and visit NOAA at @NWS and @NHC_Atlantic on Twitter to follow the conversation.
Texas Flooding
Texan social media users have taken to Twitter to share commentary and photos of this week’s flooding. You can use the hashtag #TexasFlood and #TexasFloodWeek to follow the discussion as well as view drone footage of flooded areas online via Mashable.
Check20
The I.I.I.’s latest Check20 campaign offers consumer tips on grill safety for the summer cookout season. You can use the hashtag #Check20 on social to follow the conversation as well as view additional consumer tips by visiting the I.I.I.’s Check20 board on Pinterest.
MEDIA MATTERS
CBS is the only network morning news broadcast which has posted ratings gains (+8 percent, to 3.67 million) so far this year. ABC (-9 percent) and NBC (-3 percent) saw declines.
The number of people working in The New York Times’ newsroom will be reduced substantially in the near future, Vanity Fair reports.
The Boston Herald’s weekday circulation has dropped to 88,000 from 245,000 over the past decade, according to Boston magazine.
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.
