To recap the issues raised during last 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 27th, please email Michael Barry at michaelb@iii.org.
Puerto Rico Struggles To Recover A Week After Hurricane Maria Makes Landfall
Residents of the U.S. territory are dealing with extensive power outages and a breakdown of the island’s supply chain.
U.S. Treasury, Office Of The U.S. Trade Representative, Sign Covered Agreement With The European Union
The Agreement addresses three areas of prudential insurance supervision: group supervision; reinsurance; and exchange of information between supervisory authorities.
Insurers Are Playing A Key Role In Financing Aircraft Purchases, Wall Street Journal Reports
At least four major insurers have gotten into the jet financing business, according to this WSJ article (subscription required).
EQUIFAX CEO Steps Down In Wake Of Cyber Breach
Richard Smith had held Equifax’s top post since 2005.
Stories in the Works
The I.I.I.’s Steven Weisbart was interviewed by The Omaha World-Journal’s Steve Jordon about the impact of Hurricanes Harvey and Irma on U.S. insurers and reinsurers.
The I.I.I.’s Loretta Worters briefed AARP Magazine on basic auto insurance coverages for an upcoming article on the topic.
The I.I.I.’s Michael Barry provided information to Tribune Media personal finance columnist Anya Kamenetz on securing the right insurance coverage to protect against natural disasters.
The I.I.I.’s Janet Ruiz is working with Seattle, Washington, CBS affiliate (KIRO-TV) reporter Jesse Jones on the impact the Equifax cyber breach could have on credit-based insurance scores.
Capitol Hill
A U.S. Treasury Department report on the Financial Stability Oversight Council’s (FSOC) systemically important financial institution (SiFi) designation process is due on Wednesday, October 18, a Wall Street Journal editorial stated.
U.S. Deputy Attorney General Rod Rosenstein has directed each U.S. attorney’s office across the country to log and track all disaster fraud cases related to major national disasters, according to a WSJ article.
The probable cause of the October 2015 sinking of the cargo ship, El Faro, will be discussed at a Tuesday, December 12, National Transportation Safety Board meeting. All 33 El Faro crewmembers died while traveling to Puerto Rico from Florida.
Raymond Martinez has been nominated as Administrator of the Federal Motor Carrier Safety Administration. Martinez is currently New Jersey’s Motor Vehicle Commission Chairman.
Social Media Report
National Preparedness Month Winds Down
September, National Preparedness Month, is concluding this week as the I.I.I. continues to push out its preparedness content on social media platforms. Follow the I.I.I. on Twitter using the hashtag #NatPrepMonth and #NatlPrep. The federal government’s @readygov on Twitter also provides emergency planning tips.
California Wildfires
The #CanyonFire in southern California consumed 2,000 acres and was 20 percent contained as of this morning (September 27), with mandatory evacuations in effect. In northern California, the #GrassFire is also drawing a significant amount of attention on social. The California Department of Forestry and Fire Protection is at @CAL_FIRE on Twitter.
I.I.I.’s post-Irma Facebook (FB) Live video gains traction
The I.I.I.’s Wednesday, September 13, FB Live video on hurricane recovery and insurance — hosted by Lynne McChristian just days after Irma made landfall in Florida — has to date received close to 4,600 views and 144 user engagements.
Media Matters
ABC’s World News Tonight (8.25 million) finished the television season with more viewers, on average, than NBC’s Nightly News (8.17 million), the first time that has happened in 21 years, the Associated Press reports.
Mashable may be up for sale and a German broadcasting company is interested in buying them.
Raycom Media, owner of TV and radio stations in 20 states, is merging with Community Newspaper Holdings, Inc. (CNHI). Both companies are based in Montgomery, Alabama.
Fox Business Network had more daytime viewers than CNBC for the fourth straight 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.
