To recap the issues raised during Wednesday’s conference call, here are some of the key media stories, and the messages we’re conveying.
If there is a subject you would like to see addressed on Wednesday, September 14, please email Mike Barry at michaelb@iii.org.
NBC’S TODAY SHOW POSTPONES SCHEDULED INTERVIEW WITH THE I.I.I.’s HARTWIG
NBC producer Robert Powell notified the I.I.I.’s Bob Hartwig on Friday, September 9, that the Today Show needed to postpone, because of a scheduling conflict, a taped interview with the I.I.I.’s president that was to have taken place on Monday morning, September 12, at 30 Rockefeller Plaza, Manhattan. It is unclear as of this writing when the interview will be rescheduled.
UNIVISION SEEKING INSURANCE INDUSTRY VOLUNTEERS TO HELP THEIR VIEWERS WITH IRENE-RELATED CLAIMS FILING QUESTIONS
Norma Morato, news director for New Jersey-based Univision, asked the I.I.I.’s Jeanne Salvatore if the I.I.I. can help them recruit four Spanish-speaking insurance professionals. The volunteers, who should have an expertise in coverage and claims-filing issues, would respond to Univision viewer questions about the insurance matters that have emerged since Hurricane Irene struck the East Coast in late August. If you know anyone meeting these criteria, and who can help out, please email Salvatore at jeannes@iii.org.
TOTAL NUMBER OF U.S. INSURANCE INDUSTRY EMPLOYEES HAS DROPPED SLIGHTLY OVER THE PAST YEAR, FEDERAL DATA SHOWS
In analyzing the U.S. Department of Labor’s data, the I.I.I. found that property/casualty (P/C) carrier employment for July 2011 dropped in the U.S. by 2,200 from June 2011 (-0.5 percent) to 455,600. Total P/C carrier employment was 2.2 percent lower in July 2011 than it was in July 2010. U.S. reinsurance carrier employment dropped slightly in July 2011 (down 100) but has still remained essentially flat since March 2011. Life insurance carrier employment in July 2011 rose by 1,900 as compared to June 2011 but is down 4,200 over the past 12 months.
NATIONAL INSURANCE CRIME BUREAU (NICB) RELEASES REPORT ON THE ‘MOST STOLEN’ PIECES OF HEAVY EQUIPMENT IN 2010
Loaders, back hoes, and forklifts are the types of items the NICB examined, in a study the organization released on Wednesday, September 7. Only 28 percent of the non-mower heavy equipment stolen in 2010 was found, the NICB determined, making these thefts a costly crime for insurance companies, equipment owners and rental agencies.
U.S. SENATE BANKING COMMITTEE CONVENES TO DISCUSS FLOOD INSURANCE EXTENSION, FSOC NOMINEE S. ROY WOODALL’S FUTURE
The committee acted at its Thursday, September 8, mark-up session on a five-year-flood insurance program extension and a presidential nominee to the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC).
NUMEROUS WILDFIRES IN CENTRAL TEXAS GENERATE NATIONAL MEDIA ATTENTION
The NBC Nightly News’ first story on Tuesday evening, September 6, dealt with the blazes, with the most severe ones occurring not far from the state capital, Austin.
ONE-YEAR ANNIVERSARY OF FOURMILE CANYON WILDFIRE IS COVERED EXTENSIVELY BY COLORADO MEDIA
The Daily Camera, one of the region’s largest daily newspapers, pegged this Sunday, September 4, print edition article to a United Policyholders (UP) survey that had only 59 respondents. UP and the Rocky Mountain Insurance Information Association were also interviewed for this segment, which aired on Denver’s NBC affiliate, as well as a story filed by KUNC, a National Public Radio-affiliated station in northern Colorado.
NEW YORK INSURANCE REGULATOR OFFERS MIXED MESSAGES DURING TOUR OF FLOODED UPSTATE COMMUNITY
Benjamin Lawsky, superintendent of the state’s newly-formed Department of Financial Services (DFS), toured Irene-ravaged Middleburgh, New York (Schoharie County), on Tuesday, September 6, a trip that was covered by Time Warner Cable’s all-news station, Your News Now. Lawsky reiterated to the reporter that standard homeowners and business policies exclude flood-caused losses but he nonetheless offered criticism of private-sector insurance companies, tracking comments incorporated into this Thursday, September 1, news release.
AP EXAMINES RENTER’S INSURANCE, ATLANTA JOURNAL CONSTITUTION FOCUSES ON FLOODING, AND MARYLAND EYES DEDUCTIBLES
The I.I.I.’s Salvatore briefed Candice Choi from the Associated Press (AP) on what renters insurance typically covers; the Atlanta Journal Constitution’s Russell Grantham on the National Flood Insurance Program for a story he is doing on how other countries insure against flood risk; and a Maryland-based weekly newspaper reporter from The Enterprise about hurricane and windstorm deductibles (what they are, how they work).
ALABAMA CIVIC GROUP POINTS TO RISK MODEL AND SAYS COASTAL PROPERTY OWNERS PAY TOO MUCH FOR COVERAGE
The Homeowners Hurricane Insurance Initiative, a consumer group that has been pushing for lower rates, said Alabama and Mississippi coastal property owners should be paying lower homeowners insurance premiums because Risk Management Solutions (RMS) predicts that comparatively higher wind speeds and damages will impact inland communities in both states in the wake of future hurricanes, according to this Mobile Press-Register story. The article appeared in the print edition of the paper’s Sunday, September 4, edition.
D.C. CITY COUNCIL ALLOCATES $10 MILLION TO PAY FOR INSPECTIONS, REPAIRS TO FACILITIES IMPACTED BY THE AUGUST 23 EARTHQUAKE
The Washington Times reported on Tuesday, September 6, that the monies came out of the city’s contingency reserve fund, and will be split evenly between the Department of Real Estate Services and the Office of Public Education Facilities Maintenance.
KENNETH FEINBERG, VICTIM COMPENSATION EXPERT, TO ASSIST IN ADMINISTRATION OF THE INDIANA STATE FAIR REMEMBRANCE FUND
The Indiana State Fair Commission issued this news release on Wednesday, August 31, with the details. Governor Daniels signed an executive order on the matter a day earlier.
SOCIAL MEDIA REPORT
–The blogosphere is still abuzz with residual issues from Hurricane Irene; most of the content focuses on how to file a claim properly, and how homeowners and business owners can get back on track if they were hit by Irene. Some blog posts and online articles are popping up about the need for additional flood coverage. I.I.I. materials have been cited in many of the tweets and posts.
–Another trend this week is the upcoming 10-year anniversary of 9/11 and the impact the events of that day have had on the insurance industry. YouTube videos featuring footage of the World Trade Center towers have become some of the most-viewed online. In addition, the I.I.I. video featuring Dr. Hartwig speaking about the lasting impact of the terrorist attacks on the insurance industry has been steadily getting more pick up.
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
For an I.I.I. Blog Search, click here.
