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, March 26, please email me at michaelb@iii.org.
MALAYSIA AIRLINES’ INSURERS HAVE ALREADY MADE PAYMENTS TO FLIGHT 370 PASSENGERS’ FAMILIES, WALL STREET JOURNAL REPORTS
Under an international law ratified by Malaysia, Malaysia Airlines is required to make some advance payments to the passengers’ families, the WSJ reported, on Wednesday, March 19.
TOYOTA AGREES TO PAY A $1.2 BILLION PENALTY AND ADMITS MISLEADING U.S. CONSUMERS ABOUT SAFETY ISSUES AFFECTING ITS VEHICLES
Attorney General Eric Holder joined Manhattan U.S. Attorney Preet Bharara in making the announcement in New York City on Wednesday, March 19.
U.S. AUTO, HOME INSURANCE RATES INCREASED MODERATELY IN 2013, CALIFORNIA-BASED CONSULTING FIRM FINDS
The average auto policyholder saw a 2.5 percent rate increase, and homeowners paid an average of 5.1 percent more, Perr & Knight’s RateWatch stated, in a Wednesday, March 12, release.
STORIES IN THE WORKS
The I.I.I.’s Bob Hartwig and Loretta Worters worked with the WSJ’s Leslie Scism on a story regarding the cyber insurance market.
The WSJ may do a piece on Colorado and Washington attorneys who have represented marijuana-related clients and received cancellation notices from their professional liability insurers.
The I.I.I.’s Jeanne Salvatore provided information on winter-related insured losses to producers at Washington D.C.’s Fox affiliate and the Los Angeles bureau of Al Jazeera America.
The I.I.I.’s Mike Barry spoke with the CBS Evening News’ Dallas-based Anna Werner for a segment she is preparing on the fire risks of corrugated stainless steel tubing (CSST).
The I.I.I.’s Barry also contributed data to LifeHealthPro’s article on the sale of a $201 million life insurance policy, which is believed to be the largest ever.
CAPITOL HILL
The White House website began seeking public comments on The Homeowner Flood Insurance Affordability Act (House Resolution 3370) on Tuesday, March 18.
Reps. Randy Neugebauer (R-Texas) and Ed Royce (R-California) want the Government Accountability Office (GAO) to complete its Terrorism Risk Insurance Act report by mid-May.
U.S. Senator Charles Schumer (D-New York) says dairy farmers need to be educated about a new insurance program in the farm bill, The Hill reported, on Tuesday, March 18.
STATES
California
A 4.4-magnitude quake on Monday, March 17, at 6:25 a.m., had its epicenter about 15 miles north of downtown Los Angeles.
An Insurance Department hearing about the coverage needs of ride-sharing companies is being held on Friday, March 21, at 1 p.m., in Sacramento.
Proposed state legislation (SB 994) would give car owners more control over the data streaming from their vehicles, the LA Times reported, in its Wednesday, March 19, print edition.
Florida
Chief Financial Officer Jeff Atwater had a Monday, March 17, op-ed in The Palm Beach Post in support of Senate Bill 708, the Homeowner Claims Bill of Rights.
Home insurance rates in the state rose 11 percent last year, according to Perr & Knight’s RateWatch. The Palm Beach Post is readying a story pegged to those findings.
The I.I.I.’s Lynne McChristian spoke with the Associated Press’ Jennifer Kay about SB 542, which is aimed at expanding the number of private insurers who sell flood insurance.
Harvey Bennett is the new communications director for the state’s Office of Insurance Regulation (OIR), according to this Wednesday, March 12, OIR news release.
Hawaii
Only three Oahu neighborhoods have been certified as “storm ready” by the National Weather Service, the Honolulu Star-Advertiser reported, in a Saturday, March 15, article.
Idaho
Secretary of the Interior Sally Jewell visited the National Interagency Fire Center in Boise on Monday, March 17, for a briefing on the outlook for 2014’s wildfire season.
Illinois
Uber’s CEO held a conference call with reporters on Friday, March 14, a day after a state legislative hearing on insurance coverage for ride-sharing services, WBEZ-FM reports.
Louisiana
The president is expected to sign into law The Homeowner Flood Insurance Affordability Act, the Times-Picayune reported, in this Tuesday, March 18, article.
A bill creating the crime of “injury by arson” and doubling the time a convicted arsonist must register with the state is nearing approval, according to this Times-Picayune story.
Massachusetts
Insurers have paid out $1.9 million to their policyholders for damages arising out of the April 2013 Boston Marathon bombings, this Thursday, March 13, Boston Globe story says.
New York
AXA Equitable agreed to pay a $20 million fine to the Department of Financial Services for violating state insurance law, according to this Monday, March 17, gubernatorial news release.
Washington
Seattle’s City Council voted on Monday, March 17, to cap at 150 the number of drivers Lyft, UberX and Sidecar can each have on the road at the same time, the Seattle Times reported.
SOCIAL MEDIA REPORT
The 4.4 magnitude earthquake that hit Southern California on Monday morning, March 17, has been the talk of social media. The conversation centered around people’s reaction to the earthquake. The most popular tweet has been a video of two KTLA anchors who dove under their desks while on-air during the quake. The video immediately went viral.
In a follow up to a big story from a week ago today, investigators found in Manhattan’s East Harlem section a gas leak at the site of the fatal explosion. Social media has been abuzz with this news while also posting information on fundraisers to help the victims of this tragedy.
The record-breaking $201 million life insurance policy bought by a Silicon Valley billionaire has been the topic of many blogs this week, as well. According to an article posted by CNN, the policy is underwritten by 19 different insurance companies. As of yet, the buyer of the policy remains unknown.
The federal government’s National Flood Safety Awareness Week (March 16-22) is focusing on the importance of preparing for a flood before it strikes. The I.I.I. has been promoting the awareness campaign by creating tweets and posts highlighting NOAA and FEMA tips as well as the I.I.I.’s own advice and information.
MEDIA MATTERS
Sam Champion’s Weather Channel premiere averaged 207,000 viewers between 7 and 10 a.m., ET, on Monday, March 17, The New York Post reports.
Washington Post digital content will be offered free of charge to premium subscribers at The Dallas Morning News, the Honolulu Star-Advertiser, and four other papers, starting in May.
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.
