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 30, please email me at michaelb@iii.org.
I.I.I. PARTICIPATING IN 2016 NATIONAL HURRICANE CONFERENCE IN ORLANDO
The I.I.I.’s Jeanne Salvatore is making a presentation on flood insurance while Lynne McChristian is moderating three panel discussions at the annual gathering, which is being held this week at Florida’s Hilton Orlando.
Colorado State University’s Phil Klotzbach told conferees he believes 2016 will be a below-average hurricane season partly because the far eastern Atlantic Ocean is seeing an influx of chillier water.
I.I.I.’s SALVATORE BRIEFS HEADLINE NEWS ON THE INSURANCE IMPLICATIONS OF THE JURY VERDICT AGAINST GAWKER MEDIA GROUP
The I.I.I.’s Salvatore spoke via telephone with Headline News’ Nancy Grace on Monday, March 21, after Terry Bollea (aka Hulk Hogan) won a $115 million jury verdict against Gawker Media Group, and another $25 million in punitive damages.
I.I.I.’s WHITE PAPER ON CUBA GETS TRADE MEDIA ATTENTION AMID PRESIDENT’S VISIT TO HAVANA
This P/C 360 story, for instance, was widely circulated.
INSURANCE INSTITUTE FOR BUSINESS & HOME SAFETY (IBHS) APPOINTS NEW MANAGER-PUBLIC AFFAIRS
Joanna Newton can be reached in Tampa, Florida, at either 813-675-1063 or jnewton@ibhs.org. She is a former executive director and media spokesperson for Mothers Against Drunk Driving (MADD) and, before that, worked in public affairs, marketing, and branding at the American Automobile Association (AAA) where she worked on a number of insurance issues, too. Jo, as she’s known, will be IBHS’ lead for media relations.
LONG-TERM CARE (LTC) AND LIFE INSURERS STRUGGLE AS INTEREST RATES REMAIN LOW, WALL STREET JOURNAL FINDS
Insurers are responding to low interest rates by closely examining their policies to find ways to increase revenue, with some policyholders facing the choice of either paying more or relinquishing benefits, according to a Monday, March 21, WSJ article (subscription required).
FEDERAL GOVERNMENT’S SPRING CLIMATE AND FLOOD OUTLOOK PROJECTS ELEVATED RISK OF MODERATE FLOODING IN FIVE U.S. STATES
Alabama, Arkansas, Louisiana, North Carolina, and Texas are the states mentioned by name in the National Oceanic and Atmospheric Administration’s (NOAA) outlook.
CAPITOL HILL
An I.I.I. chart from 2006 was cited by U.S. Senator Sheldon Whitehouse (D-Rhode Island) during remarks he made last week on the Senate floor regarding climate change and extreme weather events.
The Role of Cyber Insurance in Risk Management was discussed yesterday (March 22) at a U.S. House of Representatives’ subcommittee hearing.
STORIES IN THE WORKS
The I.I.I.’s Bob Hartwig spoke with CNBC’s Mary Thompson regarding the terrorism insurance market in the U.S. in the wake of yesterday’s (March 22) deadly attacks in Brussels, Belgium.
The I.I.I.’s Salvatore provided Belgium-related travel insurance insights to D.C.’s NBC affiliate for a segment they aired last night.
The I.I.I.’s James Lynch discussed with Institutional Investor’s Jonathan Mandell the insurance implications of driverless cars and briefed SNL Financial’s Liz Festa on the recent loss trends for U.S. auto insurers.
The I.I.I.’s Steve Weisbart will be interviewed about long-term care (LTC) insurance on Friday, March 25, for Chasity Capasso’s upcoming LTC story in The Pittsburgh Business Times.
The I.I.I.’s Michael Barry provided historical U.S. auto crash data to the Associated Press’ Los Angeles, California-based Justin Pritchard for an article he is readying on how driverless cars may change the U.S. auto insurance market.
The I.I.I.’s Barry is working with The Roanoke, Virginia Times’ Duncan Adams for a story on the homeowners insurance issues which arise when natural gas pipelines are installed nearby.
STATES
Alabama
The state’s Supreme Court overturned a $12.6 million judgment rendered previously against Dothan-based South Alabama Brick Company, a supplier of building materials. The case involved a lawsuit resulting from a workplace accident.
California
The four defendants who swindled investors in San Diego and Orange counties out of $3.8 million while working for Masters of Retirement, Inc. and American Equity Direct, Inc., have been sentenced to anywhere from five to 15 years in prison, Insurance Commissioner Dave Jones announced.
Connecticut
Two plaintiffs in the case (Soto, et al. v. Bushmaster) against the manufacturer of the weapon used in the 2012 Newtown massacre contend U.S. Senator Bernie Sanders of Vermont has mischaracterized their lawsuit in presidential debates.
Florida
Three former state insurance commissioners—William Hager (Iowa), Scott Kipper (Nevada, Oregon) and James Schacht (Illinois)—are among the 50-plus candidates vying to succeed outgoing Insurance Commissioner Kevin McCarty (subscription required).
State Rep. Hager (R-Delray Beach) was interviewed yesterday (March 22) by Governor Rick Scott and today (March 23) by Chief Financial Officer Jeff Atwater, two of the four members of Florida’s Cabinet, the entity that will appoint the next commissioner.
Louisiana
The White House approved Governor John Bel Edwards’ request to add three additional parishes—Allen, Ascension, and Calcasieu—into the president’s existing federal disaster declaration.
The Baton Rouge Advocate reports Governor Edwards also asked FEMA for an exception to its public assistance threshold, contending the 12 tornadoes which touched down in the state on February 23–24 and were accompanied by flooding, can be traced back to El Niño.
Minnesota
State Senator Susan Kent (D-Woodbury) has introduced legislation (SF 2770) that calls for retroactive auto insurance premium reductions for policies either sold or renewed after January 1, 2016.
Mississippi
The flooding which hit the state this month is the most significant since 2005’s Hurricane Katrina, according to a story in The Clarion Ledger. Much of the property damage occurred in Bolivar, Coahoma and Washington counties.
Amy Tuck, who borrowed $500,000 from Katrina plaintiff’s attorney Richard Scruggs while she was the state’s lieutenant governor (2000–2008), withdrew and kept the $158,342 remaining in her campaign committee account in 2013, the Associated Press reports.
Missouri
The federal government has approved more than $75 million for disbursement to the individuals and businesses impacted by January 2016’s flooding along the Meramec, Mississippi and Missouri rivers.
New Jersey
Jersey City-based ISO will collect on the U.S. Treasury Department’s behalf premium, exposure and policy information from insurers participating in the Terrorism Risk Insurance Program. The deadline for providing calendar year 2015 data is Saturday, April 30, 2016.
New York
A 43-year-oll Wallkill (Ulster County) woman was mistakenly listed as deceased in the Social Security Administration’s Death Master File, which is riddled with errors, according to a story broadcast March 22 on NBC’s New York City affiliate.
South Carolina
Nearly five months after October 2015’s historic flooding, having to make out-of-pocket payments for mold remediation poses a challenge to numerous homeowners, according to The State.
Texas
A hail storm in Tarrant County on Thursday, March 17, caused millions of dollars in insured property damage. The Fort Worth Star-Telegram reports some auto body repair shops are booked until May.
The president signed a major disaster declaration for the severe storms which occurred earlier this month in the eastern part of the state, making federal funding available to affected individuals in three counties: Jasper, Newton and Orange.
The Department of Insurance is seeking an employer representative to serve on the Texas Workers’ Compensation Appeals panel.
Wisconsin
Rebecca Bradley and Joanne Kloppenburg are facing one another in a Tuesday, April 5, election for a seat on the state’s highest court.
SOCIAL MEDIA REPORT
National Hurricane Conference (NHC)
You can follow the I.I.I.’s Salvatore on Twitter at @JeanneSalvatore, and the I.I.I.’s McChristian on Twitter at @InsuringFLA.
To follow the conversation surrounding the conference, use the hashtag #NHC2016 and follow the NHC’s Twitter account @NatHurricaneCon.
Check20
Be sure to review the I.I.I. ’s latest Check20 email campaign on lightning safety. It offers consumer tips on protecting property from lightning damage. Use the hashtag #Check20 to share the information on social.
Cuba White Paper
Released on Monday, March 14, the I.I.I.’s white paper on Cuba and insurance was featured in an article on PropertyCasualty360. To share the I.I.I.’s white paper on social, use the hashtag #IIIcubainsurance.
U.S. House subcommittee discussed The Role of Cyber Insurance in Risk Management
The full hearing can be viewed on YouTube.
MEDIA MATTERS
Univision’s Los Angeles, New York, Miami, Houston and Dallas TV stations had the most-watched local newscasts among adults 18-34 in February 2016.
Digital First Media is buying the Orange County Register and the Riverside Press-Enterprise from Freedom Communications for $52.3 million.
The building which houses The Baltimore Sun, at 501 North Calvert Street, is for sale.
Former Los Angeles Times reporter Sam Quinones’ Dreamland: The True Story of America’s Opiate Epidemic (Bloomsbury) won the National Book Critics Award for General Nonfiction.
The Weather Channel’s hour-long 23.5 Degrees with Sam Champion debuted on Tuesday, March 22, at 11 p.m., ET.
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.
