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, October 22, please email me at michaelb@iii.org.
I.I.I.’s STEVE WEISBART WRITES POLICY PAPER ON EBOLA VIRUS’S POTENTIAL INSURANCE IMPLICATIONS
Worker’s compensation and medical malpractice are among the lines which could be impacted. The I.I.I. heard from CBS Moneywatch, Fox Business Network, and CNN, among others.
HURRICANE GONZALO POSES THREAT TO BERMUDA WHILE TROPICAL STORM ANA HEADS TOWARD HAWAII
Since the call, the I.I.I. issued a news release on the insurance coverage issues raised by these severe weather events in the Atlantic and Pacific oceans.
I.I.I.’s JEANNE SALVATORE MEETS WITH REUTERS’ DEPUTY MONEY EDITOR IN NEW YORK CITY
Beth Pinkser (Phone: 646-223-7289, email: beth.pinsker@thomsonreuters.com) said she wants to examine consumers who’ve bought annuities and long-term care (LTC) insurance.
CAPITOL HILL
Most Republicans support the Terrorism Risk Insurance Act (TRIA) but have to work with House Financial Services Committee Chair Jeb Hensarling (R-Texas) on a renewal compromise.
STATES
Alabama
A storm system swept across four northern counties on Monday, October 13. One of them was an EF-1 tornado which traveled 3.5 miles in Colbert County.
Three people were convicted in federal court in a scheme to defraud the fund set up by BP to assist victims of the 2010 Gulf oil spill, according to The Birmingham News.
Arkansas
A 33-year-old man was killed when an EF-2 tornado swept through Ashdown (Little River County) on Monday, October 13, according to Little Rock’s CBS affiliate.
California
The 25th anniversary of the Loma Prieta earthquake was Friday, October 17. The event provided the news peg to this Terms + Conditions blog entry by the I.I.I.’s Claire Wilkinson.
Florida
A University of South Florida survey found property insurance was one of the top six "stressors" for homeowners, according to an article on the state’s gubernatorial campaign.
The Palm Beach Post says it has been nine years since the last significant hurricane (Wilma) made landfall in the state, and that favorable weather patterns are the primary reason.
Georgia
Two tornadoes struck metropolitan Atlanta on Tuesday, October 14. One touched down in Alpharetta and the other in East Point, according to the Atlanta Journal Constitution.
Louisiana
Governor Bobby Jindal’s office said as many as 520 homes, 165 businesses, and 12 public buildings were damaged in the Monroe area after severe storms hit on Monday, October 13.
Michigan
The pure premium rate businesses pay to fund the workers’ compensation system will decrease by 6.5 percent effective January 1, 2015, Crain’s Detroit reports.
Montana
The president authorized federal funding for the repair of facilities damaged by the severe storms of August 21-25, 2014, in Blaine, Carter, Petroleum, and Valley counties.
New York
New York City’s Department of Investigation is exploring whether a former high-level Taxi and Limousine Commission (TLC) employee used his position to land a job at Uber.
North Carolina
The Department of Insurance is hosting a Monday, October 20, public hearing in Raleigh on the industry’s request for an average homeowner rate increase of 25.3 percent.
SOCIAL MEDIA REPORT
The Ebola crisis continue to make headlines as a second U.S. healthcare worker contracted the virus. I.I.I. CBS News’ website posted a great article on Ebola’s potential insurance implications. It cited, and linked to, the I.I.I.’s white paper on Ebola, which has been viewed over 800 times since being posted on Monday, October 13.
Gonzalo has become a Category 3 hurricane and is the strongest storm this year in the Atlantic basin, according to an article by Mashable. The story was widely shared on social.
Tropical Storm Ana is slated to wreak havoc this weekend (October 18-19) in Hawaii. The Weather Channel posted satellite images and updates on Ana’s location.
Following the recent data breaches at Kmart and Dairy Queen, cyber risk continues to be a big topic in social. Indeed, President Obama recently called cyber terrorism one of the biggest threats to national security and the Federal Trade Commission (FTC) has stated identity fraud is on the rise for the second year in a row. Given that October is National Cyber Security Month, the I.I.I. has been consistently posting information and tips on how consumers can keep their information safe online.
The I.I.I.’s industry blog has been generating traffic in social. Wilkinson’s post last Friday on drones and insurance was popular over Twitter, having been clicked on 80-plus times so far.
MEDIA MATTERS
CNN’s workforce is decreasing by eight percent, with about 170 people being laid off this week, and another 130 taking voluntary buyouts.
The Great Invisible, a documentary about the April 2010 BP oil spill, will make its theatrical debut in New York and Los Angeles on Wednesday, October 29.
Conde Nast, publisher of Vogue and The New Yorker, is laying off 70 to 80 employees this month, primarily people who sold advertisements.
MSNBC reached 392,000 primetime viewers aged 25 to 54 in 2009’s first quarter, a number which dropped dramatically, to 125,000 viewers, in 2014’s third quarter.
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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