SYNOPSIS – ALL INDUSTRY CONFERENCE CALL November 20, 2013

To recap the issues raised during today’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, November 27, please email me at michaelb@iii.org.

 

Six of the eight deaths on Sunday, November 17, occurred in Illinois, where Governor Pat Quinn declared a disaster area the next day in the impacted counties. The Illinois Department of Insurance established a temporary office in Washington, Illinois, effective Tuesday, November  19, to assist residents. The other two storm-related fatalities were reported in Michigan.

 

The I.I.I. issued a media advisory on Monday, November 18, a news release on Tuesday, November 19, and gave interviews on tornadoes and coverage issues to The Chicago Tribune and the Medill News Service.

 

Risk Management Solutions told USA Today the Sunday, November 17, tornado outbreak may have caused more than $1 billion in economic damages.

The federal Department of Housing and Urban Development has narrowed to 10 from 41 the number of proposed post-Sandy infrastructure projects.

 

Their 2014 Property Claims Satisfaction Study found insurers are managing the claims process more effectively while also avoiding negotiated settlements after non-catastrophic events.

 

On Friday, November 22, the I.I.I.’s Jeanne Salvatore is taping an interview on winter driving and insurance with WCBS-AM, a New York City all-news radio station.

 

The I.I.I.’s Mike Barry discussed with Dan McSwain, a San Diego Union-Tribune business columnist, the differences between an insurance policy and a warranty. McSwain is exploring the city of San Diego’s contractual relationship with Service Line Warranties of America.

William White, insurance commissioner for the District of Columbia, was dismissed by D.C. Mayor Vincent Gray on Friday, November 15, The Washington Post reports.

 

A U.S. House subcommittee held a hearing on driverless cars on Tuesday, November 19, and the I.I.I. issued a media advisory touching on the insurance implications of the technology.

 

The New Yorker magazine’s current edition, dated Monday, November 25, features a lengthy cover story on the issue of driverless cars.

 

A U.S. House subcommittee held a hearing on the 2012 reform law governing FEMA’s National Flood Insurance Program on Tuesday, November 19 [see Louisiana for media coverage].

 

KQED, a San Francisco-based public radio station, has examined on-air over the past week the auto insurance issues raised by ride-sharing companies, such as Lyft, Sidecar, UberX.

 

The enactment of House Bill 1225 this year will likely prompt additional conversations between agents and home insurance policyholders, The Denver Post reported, on Sunday, November 17.

 

Two homes north of Dunedin were destroyed by a sinkhole on Thursday, November 14, according to this same-day ABC Evening News story. 

 

ABC’s 20/20 looked at sinkholes in Florida and elsewhere, and referenced the Dunedin incident, during its Friday, November 15, episode.

 

Citizens is cracking down on fraud in Broward, Miami-Dade, Palm Beach and St. Lucie counties, according to this Saturday, November 16, Palm Beach Post print edition article.

Rep. Randy Neugebauer (R-Texas), chairman of the U.S. House’s Housing and Insurance subcommittee, is reluctant to revisit the Biggert-Waters Flood Insurance Reform Act of 2012 only a year after its passage, according to this Tuesday, November 19, article in the New Orleans Times-Picayune.

The state’s Insurance Department needs to improves its internal auditing systems, the state’s Legislative Auditor stated, in a report the agency released on Wednesday, November 13.

The Homeowners’ Hurricane Insurance Initiative wants to create a multi-state, not-for-profit wind insurance entity, according to this Monday, November 18, story in The Biloxi Sun-Herald.

The state may purchase up to 129 properties in Staten Island’s Ocean Breeze neighborhood as part of a post-Sandy initiative, Governor Andrew Cuomo announced, on Monday, November 18.

 

A Long Island insurance company owner has been charged with stealing at least $1 million from a social service organization, The New York Times reported, on Thursday, November 14.

Workers compensation claim costs stabilized in 2009-2011, as compared to 2006-2008, according to a study released last week by the Workers’ Compensation Research Institute.

 

While the devastation from Typhoon Haiyan continues to be an important topic in social media, Sunday’s tornadoes in the Midwest are now taking over the spotlight. Conversations range from informational tweets from news organizations to organizations reaching out for humanitarian efforts. An article from Business Insurance stating that last weekend’s tornadoes could generate more than $1 billion in economic losses, a figure attributed to Risk Management Solutions, has been retweeted many times.

 

The U.S. House of Representatives’ Wednesday, November 13, subcommittee hearing on the future of the U.S. terrorism insurance market, at which the I.I.I.’s Bob Hartwig testified, received some media attention on Twitter. Property Casualty Insurers Association of America (PCI)  has been active in informing the public about the Terrorism Risk Insurance Act (TRIA) and TRIA’s implications for the economy and national security.

 

The issue of driverless cars has also been popular on social media, mostly on auto and news related blogs. The conversation has focused primarily on the history and potential future impact of driverless cars.

 

Finally, Biggert-Waters continues to be a topic of interest on social media as well—mostly political groups and politicians posting about the NFIP reform law and how it will help or hinder the country.

Maria Bartiromo is leaving CNBC when her contract expires on Sunday, November 24, to join the Fox Business Network.

 

Anderson Cooper will remain at CNN through 2016.

 

Bloomberg laid off about 50 of its editorial employees over the past few days.

 

Forbes Media has put itself up for sale.

 

Chad Hemenway’s last day at National Underwriter is Friday, November 22. He starts his new job at Advisen on Monday, December 2.

 

Laura Mazzuca Toops has been promoted to executive managing editor, National Underwriter P/C, and will share that title with Shawn Moynahan.

 

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.