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 18, please email me at michaelb@iii.org.
FEDERAL GOVERNMENT DEPLOYING DRONE TO FLY INTO THE MOST TURBULENT STORMS, PROVIDING FORECASTERS WITH PRECISE DATA
Called the Coyote, the drone will fly for as long as two hours and deliver data to National Oceanic and Atmospheric Administration (NOAA) scientists, The Wall Street Journal reports
CONSUMER FEDERATION OF AMERICA (CFA) ISSUES RELEASE ON FEDERAL INSURANCE OFFICE’S (FIO) AUTO AFFORDABILITY/AVAILABILITY STUDY
The CFA’s news release was issued on Monday, June 9, the same day FIO concluded its public comment period in advance of the study. The I.I.I. also submitted written testimony to FIO.
STUDY FINDS AVERAGE AGE OF VEHICLE ON U.S. ROADWAYS WILL RISE TO 11.5 YEARS IN 2017 FROM 11.4 YEARS TODAY
In addition, the number of vehicles on U.S. roads reached a record level of almost 253 million on January 1, 2014, a 1.5 percent increase since last year, IHS Automotive reported.
NYT PUBLISHED TWO INSURANCE STORIES OVER THE PAST WEEK: CYBER RISK COVERAGE; DEFERRED-INCOME ANNUITIES
The New York Times (NYT) examined cyber insurance market trends, and the pros and cons of purchasing deferred income annuities.
STORIES IN THE WORKS
I.I.I.’s Jeanne Salvatore gave information to CNBC on the liability issues emerging after last weekend’s New Jersey limo-truck collision. The fatal crash injured comedian Tracy Morgan.
I.I.I.’s Bill Davis has been working with Kara Byers, a producer at CBS46 in Atlanta, on a story they are prepping about staged auto accidents and insurance fraud.
CAPITOL HILL
The U.S. House of Representatives’ subcommittee on Energy and Commerce held on Wednesday, June 11, a hearing on Media Ownership in the 21st Century.
STATES
California
The U.S. Small Business Administration has opened two Disaster Loan Outreach Centers to help renters, homeowners and businesses affected by the mid-May wildfires in San Diego County.
Three Los Angeles City council members joined taxi cab drivers at a news conference on Tuesday, June 11, to call on state lawmakers to back tighter regulation of ride-sharing companies.
Consumer Watchdog wants the California Department of Motor Vehicles to slow Google’s rush to get driverless cars on the road.
Vernon Steiner began a four-year term as president and CEO of the State Compensation Insurance Fund on Monday, June 9.
Colorado
No one was hurt but six recreational vehicles (RVs) were destroyed after eight tornadoes touched down near Colorado Springs on Sunday, June 8.
USA Today reports that Tempest Tours’ storm-chasing customers fly into Denver to observe extreme weather in eastern Colorado, Kansas, Nebraska, Oklahoma and Texas.
Louisiana
Governor Bobby Jindal signed legislation that would end a lawsuit filed by a New Orleans-area regional levee board against 97 oil and gas companies, the Times-Picayune reports.
Without comment, the U.S. Supreme Court has turned down a request from BP to halt business loss claims payments while the company appeals its 2010 Gulf of Mexico disaster settlement.
Governor Jindal is expected to sign into law a measure that raises fees levied against uninsured motorists, and allocates the proceeds for law enforcement purposes.
Baton Rouge-based 1347 Property Insurance Holdings, which specializes in homeowners coverage, plans to raise $20.3 million and expand into Florida, Texas and Hawaii.
Massachusetts
Insurance commissioner Joseph Murphy denied the Massachusetts Property Insurance Underwriting Association’s bid to raise rates by almost 7 percent, according to this Boston Globe story.
Nebraska
The state made a formal request to FEMA on Thursday, June 5, seeking federal disaster aid to recover from Tuesday, June 3’s extreme weather.
Oregon
The Two Bulls fire began on Saturday, June 7, about 10 miles west of Bend, burning nearly 7,000 acres.
SOCIAL MEDIA REPORT
AIG announced that CEO Robert Benmosche will step down and be succeeded by Peter Hancock. Business Insider posted AIG’s full release.
Soccer’s World Cup starts on Thursday, June 12, amid continued civil unrest in Brazil. Many news media outlets are posting about the importance of having both travel and medical insurance if you’re going to be in Brazil during the tournament. Mashable, for instance, posted an article on tips for travelers going to the World Cup. It was shared on social over 1,000 times.
Finally, in I.I.I. news, we have completed our “I’s on Insurance” series. The two videos on filing Auto and Homeowners claims can be found on YouTube along with the rest of the series.
MEDIA MATTERS
Sean Carr, a 43-year-old SNL Financial reporter who had previously covered the insurance industry for A.M. Best, died suddenly on Saturday, June 7.
Bill Coffin, Group Editorial Director, National Underwriter Professional Network, addressed the group. His phone number is 201-526-1234, and his email address is bcoffin@SummitProNets.com.
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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