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. CONDUCTS WEBINAR ON MANAGING GEOPOLITICAL RISK
In partnership with Lloyd’s and the Atlantic Council, the I.I.I.’s first Market Report Webinar was held yesterday (May 16). It featured insurance and public affairs experts discussing the current geopolitical climate, subsequent risks for organizations and risk transfer solutions.
I.I.I.’s CEO IS PANELIST AT NATIONAL COUNCIL ON COMPENSATION INSURANCE (NCCI) ANNUAL ISSUES SYMPOSIUM
The I.I.I.’s Sean Kevelighan is participating in a Thursday, May 18, panel discussion on key industry issues with Chuck Chamness, president and CEO of the National Association of Mutual Insurance Companies (NAMIC), and Leigh Ann Pusey, president and CEO of the American Insurance Association (AIA).
TORNADOES CAUSE FATALITIES IN OKLAHOMA, WISCONSIN
The deaths occurred yesterday in Elk City, Oklahoma, and Chetek, Wisconsin. In addition, nearly 70 homes were either damaged or destroyed in Elk City, 110 miles west of Oklahoma City, and 50 – 60 mobile homes in Chetek.
I.I.I. TO MAKE PRESENTATION AT NAIC’s INSURANCE SUMMIT (MAY 25)
The I.I.I.’s Michael Barry and Jeanne Salvatore will discuss Consumer Engagement from an Industry Perspective on Thursday, May 25, in Kansas City, Missouri, as part of the National Association of Insurance Commissioners’ (NAIC) Insurance Summit (May 23 – 25).
I.I.I. PROVIDES INFORMATION TO CNBC AFTER RANSOMWARE ATTACK
CNBC’s Morgan Brennan discussed cyber coverage with the I.I.I.’s Loretta Worters before filing a Monday, May 15, segment on the insurance implications of the global ransomware attack.
INSURANCE INDUSTRY CHARITABLE FOUNDATION (IICF) COMING TO NYC JUNE 7 – 9
The IICF Women in Insurance Global Conference will be held at the Sheraton New York Times Square Hotel in New York City. It will feature three days of industry-leading speakers and interactive panel discussions on The Power of Diverse Thought and Innovation. Conference proceeds support the IICF’s Early Literacy Initiative.
STORIES IN THE WORKS
CNBC discussed with the I.I.I.’s Worters what consumers need to know about their insurance coverage before the start of 2017’s Atlantic hurricane season.
The I.I.I.’s Barry provided information to the Boston Globe’s Deirdre Fernandes (transportation network companies and insurance) and Texas Medicine Magazine’s Sean Price (summer recreational events that result in insured losses).
CAPITOL HILL
Maggie Seidel has been appointed Vice President, Public Affairs, at the American Insurance Association. Her email address is mseidel@aiadc.org.
The I.I.I.’s James Lynch is participating in the Congressional Research Service’s seminar on Autonomous Vehicles on Thursday, May 25, from 11 a.m. to 1 p.m. at D.C.’s James Madison Memorial Building, 101 Independence Avenue, SE, Washington, D.C.
STATES
California
The I.I.I.’s Janet Ruiz’s latest Insuring California blog item discusses car-sharing and insurance.
Ken Schnoll has been appointed General Counsel for the California Department of Insurance (CDI). Schnoll, who was previously a partner at Dentons US, LLP, succeeds John Finston. Finston left the CDI to return to private practice.
A former licensed public adjuster from San Clemente (Los Angeles County) was convicted this week on two felony counts related to stealing more than $400,000 in insurance proceeds from homeowners impacted by wildfires. The defendant was sentenced to seven years in prison.
State Senator Ricardo Lara (D-Bell Gardens), a 2018 Insurance Commissioner candidate, discussed the Trump administration’s proposed border wall on the CBS Evening News, Saturday, May 13.
Connecticut
Crumbling home foundations in 30-plus communities prompted around 500 homeowners to seek reassessments, reducing property tax revenues by $1.2 million, an Associated Press survey found.
Florida
The Palm Beach Post’s Property Insurance Guide has been updated and is available free of charge to the newspaper’s subscribers.
Fox’s Cape Coral affiliate reports arsonists may be to blame for many of the state’s wildfires.
The state’s Chamber of Commerce has been unable to win state Legislative approval for assignment of benefits (AOB) reform for five straight years, St. Petersblog reports.
Georgia
More than two inches of rain fell on Saturday, May 13, helping firefighters secure containment lines outside two small communities threatened by the West Mims Fire in Charlton County.
A mandatory evacuation order was lifted for the southern Georgia towns as well.
Illinois
The I.I.I.’s Barry offered advice on how to save on auto insurance to Chicago’s CBS affiliate in a Thursday, May 11, segment.
Louisiana
Residents impacted by August 2016’s flooding have until September 1, 2017, to file a Proof of Loss claim with FEMA and the state extended until August 14, 2017, its emergency consumer insurance protections to those same individuals.
Mississippi
Governor Phil Bryant is seeking federal disaster assistance to recover from last month’s tornado outbreak.
Missouri
Legislators passed a bill to raise the standard for employees to sue for discrimination over workers compensation claims the Associated Press reported.
New Jersey
Two flight crew members died when a jet crashed into a commercial warehouse in Carlstadt on Monday afternoon, May 15. The warehouse was less than a mile from Teterboro Airport.
A 28-year man was killed, and six others injured, after lightning struck a tree in Passaic.
New York
Governor Andrew Cuomo announced the state may disallow the use of either education or occupation as rate-setting criteria in its private-passenger auto insurance market. The Wall Street Journal and The New York Daily News published stories on the proposed regulation.
The Compensation Insurance Rating Board (CIRB) is recommending an overall workers compensation rate decrease of 4.5 percent for implementation effective October 1.
A former Endicott (Broome County) firefighter was acquitted of committing arson at his own home, the Binghamton Press & Sun-Bulletin reports.
North Carolina
Four men were arrested and charged with deliberately damaging roofs in Cabarrus and Davidson counties as part of an insurance fraud scheme.
Ohio
Seven people died after a two-family home in Akron caught fire in the early morning hours of Monday, May 15.
SOCIAL MEDIA REPORT
I.I.I.’s Market Report Webinar
Eighty-eight (88) registrants listened in yesterday as panelists from Lloyd’s and The Atlantic Council discussed how insurers manage geopolitical risk. You can find the live tweets and insights from the webinar on the @III_Research account, or by using the hashtag #III_MarketReport.
WannaCry Cyberattack
The WannaCry ransomware attack has been of heavy interest on social. It impacted 150 countries on Friday, May 12. The I.I.I.’s white paper on cyberrisk and insurance was the featured item this week on the I.I.I.’s website. Use the hashtag #WannaCry and #WannaCryAttack on social to follow the discussion.
The I.I.I.’s Research Twitter account featuring content from NCCI event
The I.I.I.’s Bill Davis is live-tweeting from the May 17 – 19 Orlando symposium on workers compensation issues from the @III_Research account. You can follow event updates at @NCCI on Twitter and use the hashtag #ncciAIS to track the discussion.
MEDIA MATTERS
The Chicago Tribune’s parent company made a bid to acquire the Chicago Sun-Times.
NBC’s Sunday Night with Megyn Kelly will premiere in June 2017 and air at 7 p.m.
