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, November 23, please email Michael Barry at michaelb@iii.org.
DELAWARE, MONTANA, NORTH CAROLINA, NORTH DAKOTA and WASHINGTON ELECT INSURANCE COMMISSIONERS
Trinidad Navarro, a Democrat, is Delaware’s new commissioner. Matt Rosendale, a Republican, prevailed in Montana. Republican Mike Causey was elected in North Carolina. John Godfread, a Republican, is North Dakota’s new insurance commissioner and Washington Insurance Commissioner Mike Kreidler, a Democrat, was re-elected.
2016’s WILDFIRES HAVE BURNED SIGNIFICANTLY LESS U.S. ACREAGE THAN THOSE IN 2015
The National Interagency Fire Center reports nearly 5 million acres burned due to U.S. wildfires this year through Friday, October 21. More than 10 million acres were burned by wildfires nationally in 2015.
STORIES IN THE WORKS
New York City’s NBC affiliate is exploring why hundreds of Plainview, NY, (Nassau County) homeowners have incurred copper pipe leaks, with some arguing it has to do with the community’s water quality.
Reuters’ Beth Pinsker is readying a story on the insurance implications of owning a drone.
Carrier Management and P/C 360 are preparing pieces on what the presidential election’s outcome means for P/C insurers.
The I.I.I.’s Michael Barry spoke this week with Shar Kalyanam, a reporter with S&P Global Market Intelligence, regarding the first-half 2016 U.S. natural catastrophes and the insured claim payouts they generated.
CAPITOL HILL
U.S. Senator Mike Crapo (R-Idaho) was re-elected and will serve as the next chairman of the U.S. Senate’s Banking, Housing, and Urban Affairs Committee.
STATES
Alabama
Governor Robert Bentley has expanded to all 67 counties a drought emergency declaration.
California
San Francisco’s City attorney sued the developer of the 58-story Millennium condominium tower, alleging the builder failed to disclose the tower’s settlement issues despite knowing of the problem before the condos came to market.
Rex Frazier, president of the Personal Insurance Federation of California, co-authored an op-ed piece on lobbying in Capitol Weekly.
Connecticut
The state released a report on Friday, November 4, offering theories on why hundreds of homes to the east of Hartford have crumbling foundations, according to The Wall Street Journal.
The Journal-Inquirer published an article on the same issue.
Florida
Hurricane Matthew-related insurance claims have surpassed 100,000, with losses valued at $606 million. More details on the claims tally are on the St. Petersblog.
Insurance claims came in by the hundreds in St. Johns County after Hurricane Matthew, and now contractors find their workforce has difficulty keeping pace with repairs, according to the St. Augustine Record.
Heritage Property & Casualty policyholders whose homes were built more than 40 years ago are unlikely to receive more than $10,000 after making a water damage claim, the Palm Beach Post reports.
Georgia
The Atlanta Journal-Constitution reports the state’s life insurers need to search for unclaimed life insurance policies issued after 2015 whereas Florida’s life insurers must assess the fate of policies they issued after 1992.
Louisiana
Agriculture and Forestry Commissioner Mike Strain says the risk of wildfires remains elevated statewide due to dry conditions.
Oklahoma
A 5.0-magnitude quake struck two miles west of Cushing on Sunday evening, November 6. There was property damage to 40-50 buildings.
Governor Mary Fallin declared a state of emergency in Payne County after the quake, and the state has shut down seven saltwater disposal wells.
Insurance Department representatives will be in the Cushing Chamber of Commerce Board Room beginning on Monday, November 14, to assist impacted property owners.
Texas
The Texas Farm Bureau has dropped its request to offer lower rates to homeowner policyholders who agreed to settle claims disputes through a mediation-arbitration process.
Virginia
Individuals impacted by Hurricane Matthew in Chesapeake, Newport News, Norfolk, and Virginia Beach are eligible for federal funding following a presidential disaster declaration for those four cities.
SOCIAL MEDIA REPORT
I.I.I. posts presentation delivered in NYC, cyber risk white paper
The I.I.I. tweeted recently a presentation on geopolitics and insurance by the I.I.I.’s Sean Kevelighan and James Lynch. It was delivered at the S&P Mergers & Acquisitions Symposium in New York City.
In addition, the I.I.I. tweeted an infographic and a link to its latest cyberrisk paper. The I.I.I. encourages you to visit @iiiorg on Twitter and share this content with your social audiences.
San Francisco’s Millennium Tower
You can follow the hashtag #MillenniumTower on social to monitor the conversation on the downtown San Francisco building’s settlement issues. The discussion is getting moderate attention on social. The controversy can also be tracked via @SFGate on Twitter.
MEDIA MATTERS
Claire Wilkinson’s Terms + Conditions blog examined media liability insurance coverage in the wake of a jury’s decision against Rolling Stone magazine regarding its since-retracted story about the University of Virginia.
Tribune Media blamed lower-than-expected political ad spending when explaining why its third-quarter earnings fell below analysts’ expectations.
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.
