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 11, please email me at michaelb@iii.org.
I.I.I. IS KEY SOURCE FOR WALL STREET JOURNAL STORY OFFERING ANALYSIS ON HOW TO INSURE AGAINST MAJOR DISASTERS
The I.I.I.’s Loretta Worters was quoted in a Wall Street Journal Weekend Edition (May 31-June 1) article on Protecting Your Home From Disasters (subscription required).
ABC’S WORLD NEWS AIRS PIECE ON HOW WIND-RESISTANT WINDOWS CAN PROTECT HOMES DURING TROPICAL STORMS
Reporter Byron Pitts traveled to National Certified Testing Laboratories in York, Pennsylvania, for this Wednesday, June 4, segment.
SEVERE WEATHER CAUSES SIGNIFICANT DAMAGE IN NEBRASKA AND IOWA; HITS MORE STATES AS STORM MOVES EASTWARD
Torrential rains, baseball-sized hail and winds of up to 100 miles per hour swept through Nebraska, and disrupted a primary election in Council Bluffs, Iowa, on Tuesday, June 3.
JD POWER SURVEY FINDS YOUNGER AUTO INSURANCE SHOPPERS SELECT A BRAND BASED PARTLY ON THE QUALITY OF A COMPANY’S WEBSITE
The results of its 2014 Insurance Website Evaluation Study were released on Monday, June 2. The study was based on thousands of respondents, and fielded in February and March 2014.
STANDARD & POOR’S REPORT ASKS: IF INSURERS DO NOT POSE A SYSTEMIC RISK, DO THE COSTS OF G-SII DESIGNATION OUTWEIGH ITS BENEFITS?
S&P says the costs of the global systemically important insurer (G-SII) designation may outweigh the benefits, according to this Tuesday, June 3, Business Insurance story.
STORIES IN THE WORKS
The I.I.I.’s Jeanne Salvatore spoke with Time (earthquake insurance), NBC News (ride sharing) the Sacramento Bee (concierge-style insurance) and Illinois’ WREX-TV (uninsured motorists).
The I.I.I.’s Worters gave interviews to Edmunds.com (elderly drivers and auto insurance) and Consumers Digest (ride-sharing and insurance).
The I.I.I.’s Steve Weisbart discussed with The Des Moines Register a study about first quarter 2014 annuity sales in the U.S.
CAPITOL HILL
The U.S. Senate’s Banking committee, by a vote of 22-0, approved on Tuesday, June 3, a bill to extend the Terrorism Risk Insurance Act (TRIA) for seven years.
The U.S. Senate passed a law on Tuesday, June 3, giving the Federal Reserve more flexibility when regulating companies like Prudential and MetLife, The Wall Street Journal reported.
Thomas Sullivan, a former Connecticut insurance commissioner, was named the Federal Reserve’s new senior advisor in charge of insurance oversight on Monday, June 2.
STATES
Alabama
Birmingham-based Protective Life Corporation is being sold to Japan’s Dai-ichi Life Insurance Company for $5.7 billion, according to this Tuesday, June 3, Protective news release.
The National Hurricane Center has launched its Inside the Eye blog in advance of 2014’s Atlantic hurricane season.
California
After a relatively quiet period of seismic activity in the LA area, the last five months have seen five earthquakes larger than a 4.0-magnitude, The Los Angeles Times reports.
The NBC affiliate in San Jose found ride-sharing company drivers ignored San Francisco airport transportation rules and drove unregistered cars without valid licenses and insurance.
Colorado
‘Wildfires fan growth of private firefighting crews’ was the headline of a story posted on The Coloradoan’s website on Saturday, May 31. The I.I.I.’s Salvatore worked with the reporter.
Florida
Jacksonville-based Sunshine State Insurance Company is being liquidated, The Palm Beach Post reports. Its policies will be transferred to United Property and Casualty Insurance.
Louisiana
More than 10 inches of rain fell in the state’s southern regions on Tuesday, May 27‒Wednesday, May 28, causing flash flooding and inundating homes, The Baton Rouge Advocate reports.
Mississippi
Former Rep. Gene Taylor, a vocal insurance industry critic, lost a Tuesday, June 3, bid to regain his Congressional seat by running in a Republican primary against the incumbent.
New York
Narragansett Bay Insurance Company will pay a $327,400 penalty for failing to perform timely inspections of Sandy damage claims, the Department of Financial Services announced.
North Carolina
The state has created a Lost Life Insurance and Annuity Inquiry Service to help consumers locate benefits from life insurance policies or annuity contracts purchased in North Carolina.
Texas
The Department of Insurance issued a bulletin reminding licensed adjusters they cannot serve as both the adjuster and roofing contractor on the same project, and vice versa.
SOCIAL MEDIA REPORT
The Insurance Institute for Highway Safety (IIHS) released its front crash test ratings on Thursday, May 29, and their findings were picked up by many outlets. In social media, auto companies were using the IIHS results to promote their vehicles.
Google unveiled its self-driving car last week and the social media world went crazy over the news. One of the most popular tweets came from The New York Times, which stated that the Google car only has two buttons, “start and panic.” The NYT article offers additional details on the car.
In other news, the severe weather in the Midwest on Tuesday, June 3, and Wednesday, June 4, gained a lot of attention. Pictures of baseball-sized hail were making the rounds across Twitter and Facebook, along with warnings of more storms ahead.
MEDIA MATTERS
It Could Happen Tomorrow is The Weather Channel series mentioned near the end of the call. The program imagining a Washington, D.C. tornado is listed under Season 2, Episode 9.
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
For an I.I.I. Blog search, click here.
