Category Archives: Week in A Minute

The Week in a Minute, 05/03/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

  • The CBS Evening News and CBS This Morning broadcast stories on a Louisiana law firm which earned millions of dollars in FEMA-paid National Flood Insurance Program (NFIP) legal fees after 2012’s Superstorm Sandy.
  • I.I.I. chief actuary James Lynch had an op-ed published in the Spokane, WA, Spokesman-Review and the Reno, NV Gazette Journal which said the public underestimates the risks posed by cannabis-impaired drivers.
  • The Tinder Fire in Arizona’s Coconino County has consumed more than 11,000 acres of land and prompted the evacuation of 1,000-plus people since it started on Friday, April 27.

The Week in a Minute, 4/19/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

 

One passenger was killed, and seven others were injured, after a Southwest Airlines plane engine blew apart about 20 minutes after leaving New York City’s LaGuardia Airport on Tuesday, April 17.  U.S. commercial airlines had not had an accident which led to a passenger’s death since February 2009.

A winter-like April storm brought to Green Bay, Wisconsin its second-highest snow total ever.  Minnesota, Michigan, and Illinois were also hit by heavy snowfall over the past week.

The U.S.’s January 3-5 and March 1-3 snowstorms, as well as the nation’s tornadoes and hail storms of March 18-21, each generated $1 billion-plus in economic losses, according to the National Oceanic and Atmospheric Association (NOAA).

 

The Week in a Minute, 3/23/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

 Six people died when a pedestrian walkway collapsed at Florida International University on Thursday, March 15.

The 23-year-old man believed to have been behind the recent Austin, Texas-area bombings died on Wednesday, March 21. Two people were killed this month after separately opening packages which exploded.

A 49-year-old woman died after being struck by an Uber self-driving vehicle in Arizona on Sunday, March 18. The Wall Street Journal examined its insurance implications.

 

The Week in a Minute, 2/28/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

Kentucky (three deaths), Michigan (one), and Arkansas (one) were the site of five fatalities on Sunday, February 25, due to strong winds and flooding.

Authorities are urging residents to evacuate parts of Santa Barbara County ahead of a winter storm expected to hit the area on Thursday, March 1.

U.S. consumers gave their home insurer on average a score of 860, on a 1,000-point scale, according to 6,572 property claimants J.D. Power surveyed between January and November 2017.

 

The Week in a Minute, 02/16/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

A snow system billed as Winter Storm Mateo by The Weather Channel, brought significant snowfall to the Great Plains, Midwest, and New England between Thursday, February 8, and Sunday, February 11.

Three people died after a helicopter crashed in Arizona’s Grand Canyon National Park on Saturday, February 10.

Florida’s insured losses from Hurricane Irma stood at $7.95 billion as of Friday, February 9, according to state’s Office of Insurance Regulation.  More than 900,000 Irma-related claims have been filed, and almost two-thirds of them were from homeowners (592,833).

 

The Week in a Minute, 02/09/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

  • U.S. House Representative Mark Takano (D-California) wants the Federal Insurance Office (FIO) to explore the issues raised in ProPublica’s 2017 investigative story.
  • CNBC.com and The Columbus Dispatch in Ohio posted stories on the Consumer Federation of America’s (CFA) call for a five percent reduction in the cost of property/casualty insurance because of federal tax reform.
  • The Sunday, February 4, Amtrak accident in South Carolina occurred soon after deadly Amtrak accidents in Virginia (January 2018) and Washington (December 2017).

 

 

 

The Week in a Minute, 02/02/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

The National Hurricane Center (NHC) says three of the five-costliest U.S. hurricanes in history occurred in 2017.  The top five, in order, are Katrina (2005), Harvey (2017), Maria (2017), Sandy (2012), and Irma (2017).

U.S. property/casualty insurers’ overall profit and underwriting performance between January-September 2017 produced the second-worst nine-month profit result since the Great Recession ended.

California’s insurers received nearly 45,000 claims and will pay out $11.8 billion in insured losses from the October and December 2017 wildfires, the state’s Department of Insurance announced.

The week in a minute, 1/25/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

California Insurance Commissioner Dave Jones said this week the state’s policyholders should benefit from the “reduced taxes paid by insurance companies,” a reference to the recently-enacted federal tax reform law.

A tsunami warning was issued and then rescinded after a 7.9-magnitude earthquake occurred offshore, about 150 miles south of Kodiak, Alaska, on Tuesday morning, January 23.

Five workers were killed after a gas rig explosion in Quinton, Oklahoma on Monday, January 22.

 

The week in a minute, 1/12/2018

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

The week in a minute, 1/5/18

The III’s Michael Barry briefs our membership every week on key insurance related stories. Here are some highlights. 

With a snowstorm headed up the Atlantic Seaboard, the Weather Channel offered details on the East Coast states to be impacted by this week’s extreme cold.

California’s Thomas Fire is now the largest in the state’s history, having burned an estimated 282,000 acres in Santa Barbara and Ventura counties since the blaze began on December 4, 2017.

Global insurers purchased more U.S. asset managers in 2017 than in any year in two-plus decades, The Wall Street Journal reported, in its December 30-31, 2017 Weekend print edition.