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, December 2, please email me at michaelb@iii.org.
PARIS, FRANCE ATTACKS PROMPT RENEWED MEDIA INTEREST IN TERRORISM RISK INSURANCE
The I.I.I.’s Bob Hartwig discussed the insurance implications of the event with the Bermuda Royal Gazette’s Raymond Hainey and A.M. Best’s Dave Pilla. Pilla’s piece may also touch on the downing of a Russian commercial jet last month in Egypt, and its impact on the aviation insurance market.
NEW YORK TIMES STORY SAYS ‘DEATH IN AIRBNB RENTAL RAISES LIABILITY QUESTIONS’
Airbnb now offers a $1 million in liability insurance to people who rent out their residence through Airbnb, and it is primary coverage, according to a Saturday, November 14, print edition article in The New York Times.
CONSUMER FEDERATION OF AMERICA (CFA) STUDY ASSESSES THE COST OF AUTO INSURANCE IN PREDOMINANTLY AFRICAN-AMERICAN COMMUNITIES
The I.I.I.’s Steven Weisbart conducted interviews today (Wednesday) on the CFA’s report with The Baltimore Sun’s Carrie Wells and Nerd Wallet’s Aubrey Cohen. Fort Worth-Dallas, Texas’s NBC affiliate may also pursue this story.
INSURANCE RESEARCH COUNCIL (IRC) ISSUED REPORT TODAY ON DRIVING BEHAVIORS AND TELEMATICS
The IRC’s press release offers details.
STORIES IN THE WORKS
The I.I.I. provided information to Kathleen Pender of The San Francisco Chronicle (umbrella liability policies), Laura Alix of Banker & Tradesman (sharing economy and insurance), and Stacey Phillips of Auto Body News magazine (after-market parts).
CAPITOL HILL
A National Association of Insurance Commissioners’ (NAIC) Task Force is considering adoption of a Price Optimization White Paper at a Thursday, November 19, session in National Harbor, Maryland, site of the NAIC’s Fall Meeting.
The U.S. House passed the Policyholder Protection Act.
STATES
California
The I.I.I.’s Janet Ruiz appeared in Monday, November 16, Sacramento ABC affiliate segment on roadside assistance coverage and auto insurance. The news peg was holiday travel.
A tornado touched down in Denair (Stanislaus County) on Sunday, November 15, damaging homes and knocking down trees, according to the Associated Press. The Modesto Bee posted an amateur video depicting the severe weather, and Ruiz spoke to KCRA-3 about coverage for tornado damage.
The National Fire Protection Association’s (NFPA) next virtual workshop is being held tomorrow (Thursday) at 1 p.m., ET. The topic is “how you can ignite community action and build trust in wildfire preparedness.” Lt. Tim Weaver of the Rapid City, South Dakota, Fire Department is the guest speaker.
Colorado
More than 100 commercial airline flights were canceled on Tuesday morning, November 17, at Denver International Airport as a powerful storm system dropped up to 12 inches of snow over the Rocky Mountains.
Delaware
The Department of Insurance issued a bulletin earlier this month warning insurers about fraudulent invoices that are being sent to carriers from a Washington, D.C.-based entity calling itself “Register Delaware.”
Florida Insurance Commissioner Kevin McCarty and state Senator Jeff Brandes (R-St. Petersburg) have invited property insurers to a Wednesday, December 9, conference in St. Petersburg to help carriers explore offering flood insurance, the Palm Beach Post reports.
The state’s top 25 home insurers have until Monday, December 7, to respond to an Office of Insurance Regulation (OIR) data call on “water loss claims, mitigation services, litigation and assignment of benefits,” according to Insurance Journal.
A South Florida Sun-Sentinel article says one bank’s Broward County branches has been accused of aiding auto insurance scammers.
Louisiana
Citizens Property Insurance Corp., expects to transfer about 10,000 of its policies to private carriers in 2016. Seven private insurers are seeking to take policies out of Citizens, the Baton Rouge Advocate reported.
Massachusetts
The Division of Insurance hosted yesterday (November 17) in Boston the first of its six informational hearings on the market and sale of homeowners insurance policies in the state. The next hearings are scheduled for Wednesday, December 2, in New Bedford and Tuesday, December 8, in Hyannis.
Minnesota
Commerce Commissioner Mike Rothman has ordered insurers to stop the practice of price optimization in setting rates for auto and homeowners insurance. He said the practice unfairly discriminates by charging different premiums for consumers who otherwise have similar risk profiles.
Mississippi
The Clarion Ledger reports an EF-0 tornado touched down last night between two communities near Jackson.
New York
The owners of a shuttered Swan Lake (Sullivan County) bar pled guilty last week in connection with a scheme to obtain insurance proceeds by committing arson. The establishment was set ablaze and destroyed in February 2010, according to the U.S. Attorney’s news release on the case.
Oklahoma
The U.S. Geological Survey (USGS) recorded a 3.7 magnitude earthquake this morning (Wednesday), about 12 miles north of Crescent (Logan County). During the past seven days, the USGS has recorded 16 earthquakes in the state.
South Carolina
Governor Nikki Haley announced the formation of a high-profile advisory committee to raise funds for the neediest victims of October’s historic floods. Called the One SC Fund, the governor said it is charged with completing the work government cannot do.
There have been 119 motorcyclist deaths statewide in 2015, through mid-November, as compared to 83 last year, prompting the formation of a Motorcycle Safety and Usage committee. Currently, helmets are mandatory only for motorcycle riders who are 20 years old or younger, NBC’s Columbia affiliate notes.
The South Carolina Insurance News Service spoke today to Diane Lee, a TV reporter at WSPA, the CBS affiliate in Spartanburg, regarding the importance of comparison shopping for your auto insurance policy.
Texas
A tornado touched down in Pampa (Gray County) on Monday, November 16, causing a chemical leak at a Halliburton plant.
The fatal and destructive flooding in Wimberley (Hays County) this spring was the subject this month of a University of Texas seminar on how to improve the state’s flash flood forecasts.
A series of storms across Texas in the spring caused an estimated $1.5 billion in property losses, according to the Insurance Council of Texas.
MEDIA MATTERS
Gawker announced it is rebranding its primary website to focus on political coverage.
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.
