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, September 28, please email me at michaelb@iii.org.
NEW YORK, NEW JERSEY EXPLOSIONS CAUSE MULTIPLE INJURIES AND PROMPT RENEWED MEDIA INTEREST IN TERRORISM RISK AND INSURANCE
The devices which detonated in New York City and Seaside Park (Ocean County), New Jersey, on Saturday, September 17, led CBSNews.com to cite the I.I.I. when writing about terrorism risk insurance.
The I.I.I.’s Loretta Worters is quoted in The Wall Street Journal today (September 21) on what types of events would trigger the federal Terrorism Risk Insurance Act (TRIA) (subscription required).
LISA BECOMES THE 12th NAMED STORM OF THE 2016 ATLANTIC HURRICANE SEASON
Tropical Storm Lisa’s formation was front page news in the print edition of today’s The Palm Beach Post.
I.I.I.’s CHIEF ACTUARY TO SPEAK AT NEW JERSEY LAW SCHOOL FORUM ON THE U.S. WORKER’s COMPENSATION SYSTEM
The I.I.I.’s James Lynch is one of the industry leaders who will address “compensation for injured workers in the 21st Century” at a Friday, September 23, Rutgers Law School symposium in Camden, New Jersey.
STORIES IN THE WORKS
The I.I.I.’s Jeanne Salvatore briefed HGTV magazine’s Meghan Overdeep on travel insurance for a story which is appearing in the publication’s January/February 2017 edition.
The I.I.I.’s Worters spoke with Good Housekeeping’s Peg Rosen (auto insurance discounts), Credit Karma.com’s John Egan (ridesharing coverage), and AM Best’s Renee-Kiriluk-Hill (Louisiana flooding’s economic impact).
The I.I.I.’s Elianne Gonzalez will discuss gap insurance, in a taped interview, on Univision 41 in New York/New Jersey on Monday evening, September 26.
The I.I.I.’s Michael Barry is working with The Wall Street Journal’s Brian Basking (commercial truck insurance trends) and The Boston Globe’s Deirdre Fernandes (Uber’s driverless car pilot program in Pittsburgh).
Bloomberg BNA’s Brandon Ross is exploring whether either a cyber or a homeowner’s insurance policy would cover property damage caused by the malfunction of a home’s Nest system.
The Daytona Beach News-Journal’s Jim Abbott is readying an article on the rising costs of auto insurance in Florida.
CAPITOL HILL
The White House released a Fact Sheet on the Obama administration’s new Automated Vehicles Policy, a day before the U.S. Department of Transportation issued this report on the same issue.
STATES
Alabama
Insurance Commissioner Jim Ridling marked his eighth anniversary in that post last week, making him the longest-serving head of the state’s Department of Insurance since 1951.
California
The Los Angeles Times published its story on the non-renewal of home insurance policies in wildfire-prone parts of the state. The I.I.I.’s Janet Ruiz was among the industry sources quoted in the article.
California’s current 5-year drought may be “the new normal,” according to a new UCLA study.
A group led by the U.S. Geological Survey says there is a 72 percent probability one, or more, quakes of a magnitude 6.7 or greater will occur in the San Francisco Bay area before 2043.
A 46-year-old North Hills (Los Angeles County) woman was charged with transacting insurance without a license.
Colorado
Boulder County is partnering with Airbnb to provide housing after natural disasters.
Florida
Insurance Commissioner David Altmaier reported there have been 14,890 Hermine insurance claims filed as of Friday, September 16, with payouts estimated at $80 million.
Tampa Bay’s NBC affiliate reported on a roofing scammer they investigated who pled guilty to fraud. A judge ordered the defendant to repay more than $630,000 to nearly 100 victims.
West Palm Beach will require new homes to be elevated so property owners’ flood insurance premiums are lowered, according to a Palm Beach Post article.
The no-fault auto insurance system’s elimination could save the average motorist 9.6 percent on their liability-coverage, according to Pinnacle Actuarial Resources.
The Palm Beach Post notes the possibility of dropping Personal Injury Protection (PIP) is unclear given that legislative efforts to repeal no-fault were unsuccessful this spring.
Hawaii
An intense three-inch rainfall caused flooding and mudslides on The Big Island (Hawaii County) on Wednesday, September 14.
Louisiana
Anywhere from 1,750 to 5,000 Baton Rouge businesses may never reopen because of the damages they incurred during last month’s flooding.
Nearly 70 flood-damaged homes are for sale “as is,” and another 30 are under contract.
Governor John Bel Edwards extended an emergency rule through Wednesday, October 12, that prevents insurers from either canceling or non-renewing policies which cover flood-stricken properties.
Baton Rouge and Lafayette auto policyholders will likely see comprehensive coverage premium increases because of August 2016’s flooding, Insurance Commissioner James Donelon told Baton Rouge’s 107.3 FM.
Maryland
The president declared a major disaster exists in Howard County following the flooding of July 30-31, 2016, making federal funding available for either the repair or replacement of damaged municipal facilities.
Oklahoma
Earthquake insurance policies can be purchased statewide, even though a few insurers have instituted 60-day moratoria on the sale of new quake policies, Insurance Commissioner John Doak stated.
Governor Mary Fallin has appointed Jordan Russell, an Oklahoma City attorney, to the state’s Workers’ Compensation Commission.
The Daily Oklahoman published a detailed article on how fraud costs insurers billions of dollars annually.
Wisconsin
A severe hailstorm in the southern part of the state on Monday, September 19, is expected to generate a substantial number of vehicle and property insurance claims, especially in Madison and LaCrosse.
SOCIAL MEDIA REPORT
PBS’s Business of Disaster
PBS Frontline updated its Twitter and Facebook pages as part of its Tuesday, September 20, re-broadcast of Business of Disaster. The 60-minute film premiered in May 2016 and examined the aftermath of Superstorm Sandy. While there has been some social media engagement with Frontline’s posts, there has been little social media activity by either viewers or third-party social accounts. Frontline is on Twitter @frontlinepbs and at facebook.com/frontline.
U.S. issues Autonomous Vehicle (AV) policy
The U.S. Department of Transportation’s (DOT) new guidelines on self-driving cars are receiving heavy attention on social. To follow the conversation, use the hashtag #AVpolicy or follow the DOT on Twitter at @USDOT. For more stories on self-driving cars, follow NY Times tech policy reporter Cecilia Kang on Twitter.
Hispanic Heritage Month
The I.I.I. released its new Spanish-language infographic on the importance of having business interruption insurance. You can also use the hashtag #HHM16 and #HispanicHeritageMonth to join the conversation. Hispanic Heritage Month began on September 15, and continues through October 15.
MEDIA MATTERS
Fox Business Network (FBN) averaged 181,000 viewers during last week’s (September 12-16) daytime hours, exceeding for the first time in FBN’s history CNBC’s viewership (171,000).
CBS’s morning (+7 percent, to 3.58 million viewers) and evening (+1 percent, to 7.03 million viewers) news programs saw year-over-year audience growth, the only broadcast network which could make that claim.
Gannett-owned North Jersey Media Group, publisher of Bergen County’s The Record, NorthJersey.com, and dozens of weekly newspapers, expects to lay off more than 200 employees by mid-November 2016.
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
