To recap the issues raised during Wednesday’s conference call, here are some of the key media stories, and the messages we’re conveying.
If there is a subject you would like to see addressed on Wednesday, June 6, please email Mike Barry at Michaelb@iii.org.
TROPICAL STORM BERYL MAKES LANDFALL NEAR JACKSONVILLE, FLORIDA, EARLY ON MEMORIAL DAY MORNING
Beryl brought heavy rains and 70 mile per hour winds to northern Florida and southern Georgia on Monday, May 28, ABC’s Good Morning America reported.
I.I.I. OFFERS COMMENTARY ON INSURERS AND CATASTROPHE RISK AS BLOOMBERG TV COVERS START OF 2012 HURRICANE SEASON
The I.I.I.’s Mike Barry and Steve Weisbart appeared on Bloomberg TV on Thursday afternoon, May 24, hours after the National Oceanic and Atmospheric Administration (NOAA) released its forecast for the 2012 hurricane season.
J.D. POWER AND ASSOCIATES REPORT FINDS THE QUALITY OF AN AUTO INSURER’S WEBSITE IS CRUCIAL TO ITS RECRUITMENT OF NEW BUSINESS
The experience consumers have on an auto insurer’s website impacts greatly the likelihood that a consumer will do business with that insurer, according to a report J.D. Power and Associates released on Thursday, May 24. The I.I.I.’s Claire Wilkinson analyzed J.D. Power’s findings in her Wednesday, May 30, Terms + Conditions blog.
A.M. BEST ASSESSES P/C INSURER FINANCIALS FROM 2011; BEST WEEK FINDS INSURANCE INDUSTRY LOBBYIST SPENDING HAS DROPPED
A.M. Best issued a 12-page report on Thursday, May 24, saying U.S. property/casualty (P/C) insurer net income plunged in 2011, but its balance sheet remains strong. Best Week published a front-page story in its Monday, May 28, edition reporting that insurance industry lobbying expenditures were down 9 percent in 2012, as compared to this time of year in 2010.
I.I.I.’s CHIEF ECONOMIST TO TESTIFY ON THE STATE OF CONNECTICUT’S COASTAL INSURANCE MARKET ON WEDNESDAY, JUNE 6
The I.I.I.’s Weisbart will make a presentation to the state Legislature’s Shoreline Preservation Task Force on Wednesday, June 6, at 2 p.m. in Hartford, Connecticut. Robert Kehnma, president of the Insurance Association of Connecticut, will accompany Dr. Weisbart to the hearing to answer questions on pending legislative matters. The Task Force was formed in February 2012, and is charged with addressing the insurance issues that emerged after August 2011’s Tropical Storm Irene.
FINANCIAL TIMES FOCUSING ON MUTUAL INSURERS, SMART MONEY EYEING LINK BETWEEN RECKLESS DRIVING, AUTO INSURANCE RATES
Ajay Makan, a New York City-based Financial Times banking reporter (212-641-6346, ajay.makan@ft.com) is doing research for a story the FT is preparing on a Massachusetts proposal to require mutual insurers to disclose publicly information about their executives’ compensation. Makan received information from the I.I.I. about mutual insurer market share in the U.S. and Massachusetts, as defined by direct written premium. Anna Prior of Smart Money magazine(Anna.Prior@dowjones.com) is looking at the impact various driving infractions can have on a policyholder’s auto insurance rates.
IIHS REPORTS OFFER WAYS TO REDUCE FATAL TEEN CRASHES, CHRONICLE DAMAGE HAIL STORMS CAUSED TO CARS IN 2011
The Insurance Institute for Highway Safety’s study on teen driver licensing laws was issued on Thursday, May 31, and its hail damage assessment report was released on Friday, May 25.
FEDERAL NEWS
President Obama signed into law on Thursday, May 31, a two-month extension of the National Flood Insurance Program (NFIP). The new expiration date is July 31, 2012.
STATE NEWS
Florida
The lessons Florida learned from 1992’s Hurricane Andrew were the focus of this front page story in the Sunday, May 27, print edition of the Sarasota Herald Tribune.
The I.I.I.’s Lynne McChristian spoke about the origins of a flood insurance policy’s 30-day waiting period in this Orlando News 13 segment, which aired on Tuesday evening, May 29.
New Mexico
The largest wildfire in the state’s history, covering more than 170,000 acres, is burning in the Gila National Forest. About 1,200 firefighters are fighting the blaze, USA Today reported, featuring a Wednesday, May 30 Associated Press story.
Michigan
The Duck Lake Fire in the state’s Upper Peninsula region has destroyed nearly 100 structures and impacted more than 20,000 acres, with veteran firefighters calling it one of the worst wildfires they have ever encountered in Michigan.
South Carolina
Tropical Storm Beryl was regaining its strength as the storm system passed near Charleston, South Carolina, on Wednesday morning, May 30, Bloomberg reported.
North Carolina
The North Carolina Department of Insurance issued a news release on Tuesday, May 29, to announce the launch of NCHurriClaims.com, a website aimed at helping residents access insurance information before, during and after a storm.
Louisiana
Four Federal Emergency Management Agency (FEMA) contractors who either installed or maintained government-issued trailers for Hurricane Katrina victims have agreed to a $5 million settlement to resolve claims that the temporary shelters exposed Gulf Coast residents to hazardous fumes, this Tuesday, May 29, Associated Press story reported.
Oklahoma
Severe hail storms near Oklahoma City on Monday, May 28, and Tuesday, May 29, left thousands without power and caused significant property damage, according to a Wednesday, May 30, online article in The Oklahoman.
Texas
A Texas jury ruled Coca-Cola must pay $24 million to a 37-year-old woman who was injured in 2010 after colliding with a Coca-Cola delivery truck. The employee was using a cellphone when their two vehicles collided, according to this Corpus Christi Caller Times article.
Virginia
The State Corporation Commission’s Bureau of Insurance announced in a news release on Tuesday, May 29, that their website had been revamped to “make it easier to locate information about the premium rates and policy forms that insurance companies are using in Virginia.”
Minnesota
The U.S. Supreme Court has ruled the state of Minnesota may pursue its lawsuit against Jacobs Engineering, the firm that designed the Minneapolis bridge that collapsed in August 2007, killing 13 people and injuring more than 140 others, according to a Tuesday, May 29, story. The segment aired on the CBS affiliate in Mason City, Iowa.
MEDIA MATTERS
The Times-Picayune of New Orleans plans to publish print editions only three days a week, and major layoffs loom at the paper, The New York Times reported on Wednesday, May 23.
More than one-third of the nation’s 210 local television markets share editorial content when producing their news broadcasts, according to this New York Times story. The article appeared on the front page of the paper’s print edition on Tuesday, May 29.
Carter Langston (Phone: 202-368-7053, email: Carter.Langston@fema.dhs.gov) has joined FEMA as the agency’s Washington, D.C.-based News Desk Manager. His duties include responding to, and vetting, flood insurance-related media inquiries.
SOCIAL MEDIA REPORT
Dog bite prevention is still a hot topic this week in social media with information from the I.I.I.’s Thursday, May 17, news release still appearing in many blogs and Facebook posts. The tone of the postings this week is about how having a dog that bites people is a major liability risk that can cost their owners thousands of dollars.
Another popular topic is the dangers of reckless behavior on the road and how it can lead to higher auto insurance rates for drivers. There is also a lot of content being shared on how to save money on auto insurance. In both instances, the I.I.I.’s online editorial content is being referenced as part of these discussions.
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.
