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 13, please email me at michaelb@iii.org.
SOUTH CAROLINA’S GOVERNOR, U.S. HOUSE DELEGATION, TO VISIT IBHS’S RESEARCH CENTER ON TUESDAY, NOVEMBER 12
Governor Nikki Haley will be at the Insurance Institute for Business & Home Safety (IBHS) from 10 to 11 a.m. while U.S. House Members Bill Shuster and Lou Barletta are coming later that day.
CLASS–ACTION CASE INITIATED BY MISSISSIPPI’S ATTORNEY GENERAL TO BE HEARD BY U.S. SUPREME COURT
The Wall Street Journal offered its assessment of the case brought by AG Jim Hood against AU Optronics Corp. in a Wednesday, November 6, editorial (subscription required).
POLICYHOLDERS FACING DIFFICULT CHOICE: PAY TO MAINTAIN A POLICY’S VALUE, OR ACCEPT A SHARP REDUCTION IN ITS DEATH BENEFIT
Years of low interest rates have eroded the value of universal life insurance policies sold in the 1980s and 1990s, this Monday, November 4, Wall Street Journal article explains.
SCRIPPS HOWARD NEWS SERVICE (SHNS) TO RELEASE MAJOR STORY THIS MONTH ON THE ISSUE OF ARSON IN AMERICA
Thomas Hargrove, a Washington, D.C.-based writer for SHNS, said his news organization has found that arson, believed to cause 5 percent of all building fires, is widely under-reported.
CAPITOL HILL
The U.S. House’s Housing and Insurance subcommittee is holding a public hearing on the future of terrorism insurance in the U.S. on Wednesday, November 13, at 10 a.m.
The U.S. House’s Transportation committee is convening on Tuesday, November 19, at 10 a.m. to discuss ‘how autonomous vehicles will shape the future of surface transportation.’
STATES
Alabama
Bradley Byrne won the Republican run-off in Alabama’s first Congressional District and is heavily favored to succeed former Rep. Jo Bonner after the Tuesday, December 17, general election, according to this Tuesday, November 5, Associated Press article.
The Insurance Department has missed its deadline for posting information required under the Property Insurance Clarity Act, the Mobile Press-Register reported, on Wednesday, October 30.
The Birmingham News’ Driving Alabama column assessed on Monday, November 4, a CarInsurance.com survey, which found significant public interest in the issue of driverless cars.
California
Two Los Angeles City Council members have called for a statewide ballot measure that would, if passed in either 2014 or 2016, provide funding to retrofit older, concrete buildings, allowing them to withstand more effectively an earthquake, according to this Monday, November 4, LA Times article.
The LA Times reports that the Orange County Board of Supervisors is weighing whether to create an online map, identifying the homes where dangerous and/or vicious dogs reside.
The Sacramento Bee published on Tuesday, November 5, a story saying the San Francisco-based Airbnb has a growing customer base in Sacramento and provides its users with $1 million in insurance coverage. Airbnb has been less well-received in cities such as San Luis Obispo, the article notes.
Colorado
Federal aid to residents and businesses impacted by September 2013’s flooding has reached $100 million, according to this Friday, November 1, Denver ABC affiliate segment.
Florida
The South Florida-Sun Sentinel reports few Citizens customers know much about the law aimed at depopulating Citizens, or can assess the quality of the private insurers being sent their way.
State Representative Carlos Trujillo (R-Miami) introduced House Bills 267 and 269 on Tuesday, November 5, and both measures, aimed at getting rid of Florida’s no-fault auto insurance system, might receive the support of state Senator David Simmons (R-Altamonte Springs), chair of the Senate insurance committee, the News Service of Florida reports.
Governor Rick Scott announced on Tuesday, November 5, that the United Services Automobile Association (USAA) will expand its operations in Tampa and Brandon (Hillsborough County).
Former Governor Charlie Crist announced on Monday, November 4, that he would run in August 2014’s Democratic gubernatorial primary. Former state Senator Nan Rich is Crist’s opponent.
Iowa
Fidelity & Guaranty Life is moving its headquarters to Des Moines from Baltimore, Maryland, to “take advantage of its [Iowa’s] lower cost of living, business-friendly regulatory climate and ready supply of insurance professionals,” according to this Friday, November 1, article in The Des Moines Register.
Louisiana
Citizens Property Insurance Corporation will pay $3,000 to Citizens’ customers who had their claim mishandled after either Hurricane Katrina or Rita in 2005, and another $1,500 will go to each claimant’s attorney, in accordance with a settlement approved by state District Judge Henry Sullivan, according to this Saturday, November 2, article in The New Orleans Advocate.
The National Council on Compensation Insurance (NCCI) has recommended a 5 percent reduction in workers compensation insurance rates, the New Orleans Times-Picayune reported, in this Friday, November 1, story.
New Jersey
Christine O’Brien, president of the Insurance Council of New Jersey, was interviewed for this Friday, November 1, News 12 New Jersey story on Sandy’s aftermath and the insurance lessons consumers learned from one of the largest natural disasters in the state’s history.
Oklahoma
Four separate earthquakes struck the central part of the state over a five-hour period on Saturday, November 2, according to the Daily Oklahoman. No damage or injuries were reported. Days earlier, on Tuesday, October 29, Insurance Commissioner John Doak issued a news release, encouraging Oklahoma residents to purchase earthquake insurance coverage.
Texas
More than 1,000 Austin homes were impacted by Thursday, October 31, flooding, according to Houston’s CBS affiliate. Few have flood insurance, Austin’s NBC affiliate reported.
Washington
The University of Washington released on Monday, November 4, a report on what climate change might mean for coastal areas of Washington and Oregon as well as Idaho’s forests.
SOCIAL MEDIA REPORT
Flood insurance continues to dominate the headlines this week with the flash flooding in Texas and the new National Flood Insurance Program (NFIP) law’s provisions taking effect.
One popular tweet by Insurance Journal linked to an article which touched on both of these flood-related issues.
New York City has a new mayor. Bill de Blasio won in a historic landslide (73-24 percent) on Tuesday, November 5, against Republican Joe Lhota.
New Jersey Governor Chris Christie was re-elected easily on that same day (60 to 38 percent) after a campaign against his Democratic rival, state Senator Barbara Buono. Some believe Christie’s win had a lot to do with his response to Superstorm Sandy.
MEDIA MATTERS
Ray Suarez, formerly of PBS’s NewsHour, is joining Al Jazeera America, effective Monday, November 11, Capital New York reports.
The San Diego Union-Tribune announced on Friday, November 1, that it was purchasing eight weekly newspapers, including La Jolla Light and the Del Mar Times.
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
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