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, May 17th, please email Michael Barry at michaelb@iii.org.
I.I.I., ISO, AND PCI HOLD WEBINAR ON 2016 PROPERTY/CASUALTY INSURER FINANCIAL RESULTS
Nearly 300 participants listened in to hear the I.I.I.’s Sean Kevelighan, ISO’s Beth Fitzgerald, and PCI’s Robert Gordon discuss on Monday, May 8, the industry’s 2016 financial performance. The I.I.I.’s Steven Weisbart also offered this commentary on the year-end 2016 results.
SEVERE APRIL WEATHER CAUSED BILLIONS OF DOLLARS IN DAMAGES
Aon Benfield’s Impact Forecasting offered details on last month’s severe U.S. weather in its latest Global Catastrophe Recap. The National Oceanic and Atmospheric Administration (NOAA) reported that April 2017 was the second-wettest April on record in the United States.
I.I.I. WEBINAR ON MANAGING GEOPOLITICAL RISK SET FOR TUESDAY, MAY 16, AT 11 A.M., ET.
Registration can be done via this weblink.
STORIES IN THE WORKS
The I.I.I.’s Lynne McChristian briefed a Help Me Howard producer at Miami’s WSVN-TV about the way credit-based insurance scores are used by auto insurers.
The I.I.I. provided information to Inc. Magazine’s David Whitford for his upcoming article on how businesses are insuring collaborative robots, also known as cobots.
CAPITOL HILL
The American Insurance Association’s (AIA) president & CEO, Leigh Ann Pusey, is stepping down next month to join a major pharmaceutical company.
The Insurance Institute for Highway Safety (IIHS) conducted crash safety tests to assess the effectiveness of underride guards on semi-trailers
STATES
Alabama
The state’s Workers’ Compensation Act is unconstitutional because of the law’s caps on injured workers’ weekly compensation and attorney’s fees, according to a Jefferson County circuit court judge’s ruling.
California
Sacramento’s ABC affiliate aired a brief segment on Friday, May 5, on last month’s ProPublica’s auto insurance pricing story. The I.I.I.’s James Lynch is quoted in the online article.
State Senator Ricardo Lara (D-Bell Gardens) has posted an online ad for his 2018 insurance commissioner campaign which focuses on Lara’s opposition to Trump administration policies.
Lemonade and Slice, an insuretech start-up, have won regulatory approval to operate in the state.
Hail and heavy rainfall brought winter-like weather to the Los Angeles area on Sunday, May 7, according to LA’s ABC affiliate.
The San Diego Padres’ baseball game was rained out on Sunday, May 7, only the third time that has happened since Petco Park opened in 2004.
Florida
The state legislative session concluded without passage of any major legislation affecting no-fault auto insurance, workers compensation, or assignment of benefits (AOB).
A minor workers compensation reform measure (CS/CS/HB 1107) is on its way to Governor Rick Scott’s desk. It calls for shielding personally identifiable information about a claimant under the state’s public record laws.
Fort Myers’ ABC affiliate broadcast an investigative report on how hi-tech thieves are breaking into cars without the owners knowing about it.
More than 100 wildfires are burning statewide, ABC’s Evening News reported, on its Sunday, May 7, edition.
Georgia
FEMA issued a Fire Management Assistance declaration for the West Mims Fire to help the state cover the costs of staffing, equipment and emergency work. It has burned more than 100,000 acres near the state’s border with Florida since April 6.
The West Mims Fire is threatening homes and businesses near St. George and Moniac (Charlton County), while also prompting school closures, because dry conditions have made the flames largely uncontrollable.
Louisiana
FEMA’s Proof of Loss filing deadline for individuals impacted by August 2016’s flooding should be extended until September 1, according to Insurance Commissioner Jim Donelon. The current FEMA deadline is Friday, May 12.
State lawmakers scrapped last week a plan to divert $190 million in federal disaster aid monies to finance a capital project that would have reduced flooding near the Comite River.
Missouri
Individuals impacted by last week’s flooding can find assistance on insurance and other matters at one of 15 resource centers established by the state’s Emergency Management Agency.
The St. Louis Post-Dispatch reports flood-related, uninsured property losses are tax-deductible through the Internal Revenue Service’s (IRS) casualty loss program.
New York
The I.I.I.’s Loretta Worters discussed flood insurance with Rochester’s NBC affiliate, which covered the aftermath of heavy rainfall in communities near Lake Ontario.
The state’s Department of Financial Services Mobile Command Centers have been deployed to the region.
Governor Andrew Cuomo declared a state of emergency in eight upstate counties due to the flooding.
South Carolina
Four tornadoes touched down and caused extensive property damage on Thursday, May 4, the Charleston Post-Courier reports.
The South Carolina Insurance Association has given multiple interviews to Charleston TV and radio stations regarding Hurricane Preparedness Week (May 7 – 13).
Utah
The I.I.I.’s Michael Barry discussed auto insurer use of after-market parts in a Thursday, May 4, Salt Lake City CBS affiliate segment on the issue.
Virginia
The I.I.I.’s Jeanne Salvatore talked travel insurance during this Washington, D.C., NBC affiliate story about a Virginia woman who was unaware of her policy’s coverage limitations.
Washington
The roof over part of an underground tunnel collapsed yesterday (May 9) at a former nuclear-weapons production site in Hanford, about 150 miles southeast of Seattle, prompting an emergency declaration and the evacuation of some employees.
SOCIAL MEDIA REPORT
I.I.I.’s Market Report Webinar scheduled for Tuesday, May 16
The I.I.I.’s inaugural Market Report Webinar on geopolitical risk will be held on Tuesday, May 16, at 11 a.m., ET. It will feature leading subject matter experts from Lloyd’s and the Atlantic Council. Follow @iiiorg and @III_Research on Twitter for further updates and live tweets during the event. Use the hashtag #III_MarketReport to follow the conversation on social.
Hanford, WA, Nuclear Reservation tunnel collapse
Washington Governor Jay Inslee issued a media statement yesterday on the incident. It can be found on Inslee’s Twitter at @GovInslee. For updates on the situation, follow @HanfordSite on Twitter and the hashtags #Hanford and #HanfordEmergency or #HanfordSite.
Hurricane Preparedness Week (May 7-13)
NOAA is marking Hurricane Preparedness Week. The I.I.I.’s Salvatore was featured recently on the National Hurricane Center’s blog, Inside the Eye, discussing insurance and hurricane preparation. The blog is featured on the I.I.I.’s Twitter account and @NWSNHC. Use the hashtags #HurricanePrep and #HurricaneStrong to join the discussion.
MEDIA MATTERS
Sinclair Broadcast Group is acquiring Tribune Media’s 42 TV stations and its other assets for $3.9 billion.
