SYNOPSIS - ALL INDUSTRY CONFERENCE CALL - May 13, 2015

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, May 20, please email me at michaelb@iii.org.

EIGHT KILLED, 150-PLUS INJURED, AFTER AMTRAK TRAIN DERAILS IN PHILADELPHIA

Amtrak is facing costly personal injury-claims in the wake of the Tuesday, May 12, accident, the Philadelphia Inquirer reports.

DEADLY TORNADOES TOUCH DOWN IN ARKANSAS AND TEXAS; IOWA, OKLAHOMA AND SOUTH DAKOTA AMONG THE OTHER IMPACTED STATES

FEMA received 185 tornado reports in multiple states (see page 3) between Wednesday, May 6, and Sunday, May 10, with one of them killing a married couple in Nashville, Arkansas. The Texas fatalities occurred in Cisco and Corsicana, according to USA Today.

I.I.I. PRESIDENT OFFERS INDUSTRY PERSPECTIVE TO NATIONAL PUBLIC RADIO (NPR) ON AUTO INSURER USE OF PRICE OPTIMIZATION

The I.I.I.’s Bob Hartwig spoke about price optimization with Michigan-based National Public Radio (NPR) reporter Tracy Samilton, who also discussed the matter with the Consumer Federation of America.

THE INSURANCE INSTITUTE FOR HIGHWAY SAFETY (IIHS) GIVES ONLY TWO OF SEVEN MIDSIZE SUVs A GOOD RATING IN ITS LATEST CRASH TESTS

The IIHS’s Russ Rader discussed the IIHS sport utility vehicle (SUV) findings in this live, Tuesday, May 12, interview on Fox Business Network’s Willis Report.

I.I.I. RELEASES ITS ANNUAL DOG-BITE CLAIM NUMBERS IN ADVANCE OF NATIONAL DOG BITE PREVENTION WEEK (MAY 17-23, 2015)

Loretta Worters represented the I.I.I. at a Thursday, May 14, press conference in Washington, D.C., and provided information used in this Bloomberg story on the topic.

I.I.I.’s FLORIDA REPRESENTATIVE GIVES LIVE INTERVIEWS ON HURRICANE PREPAREDNESS DURING THE WEATHER CHANNEL’S (TWC) COVERAGE OF TROPICAL STORM ANA

The I.I.I.’s Lynne McChristian appeared on TWC on Saturday, May 9, around 7:15 a.m., ET, and then again at 9:15 a.m., ET. TS Ana had sustained winds of 45 miles per hour when it made landfall north of Myrtle Beach, South Carolina, on Sunday morning, May 10.

SEVERE WEATHER ACROSS THE PLAINS, MIDWEST AND MISSISSIPPI VALLEY (APRIL 7-10, 2015) CAUSED FATALITIES AS WELL AS $750 MILLION IN INSURED LOSSES, AON BENFIELD REPORTS

An EF-4 tornado devastated Fairdale and Rochelle, Illinois, on Thursday, April 9, but numerous other states incurred damage last month due to hail, straight-line winds, and flooding rain. Terms + Conditions’ Claire Wilkinson summarized Aon’s findings.

STORIES IN THE WORKS

The I.I.I.’s Worters discussed the issue of auto insurance discounts with CNBC.com’s Kelly Grant.

The I.I.I.’s Michael Barry was interviewed by InsuranceQuotes.com’s Nick DiUlio about a Quadrant Information Services study which analyzed, on a state-by-state basis, the link between higher home insurance deductibles and lower premiums.

CAPITOL HILL U.S. Senate Banking Committee Chair Richard Shelby (R-Alabama) has unveiled the Financial Regulatory Improvement Act of 2015, which calls for the largest revisions to the Dodd-Frank Act since its 2010 enactment.

In seeking to dismiss MetLife’s lawsuit against them, the Financial Stability Oversight Council (FSOC) argued in a court filing that FSOC was justified in designating MetLife a systemically important financial institution (SiFi), The Wall Street Journal reports.

U.S. Rep. Dennis Ross (R-Florida) has introduced the Disaster Savings Accounts Act of 2015 (House Resolution 2230). It would amend the federal tax code to create tax-preferred savings accounts to help Americans prepare for natural disasters.

STATES

California

Senate Bill 602, Seismic Safety: California Earthquake Authority, is on the Monday, May 18, agenda of the state Senate Appropriations Committee.

The I.I.I. is preparing a news release on earthquake insurance for distribution prior to the Friday, May 29, premiere of San Andreas, a movie starring Dwayne Johnson.

The I.I.I. had a written statement incorporated into this Monday, May 11, Sacramento CBS affiliate segment pegged to a diminution of value case involving a new car that was damaged in a crash.

Four of the nearly 50 self-driving cars operating in the state have gotten into minor accidents since September 2014, according to the Associated Press. Three of the four are owned by Google, and the other belongs to Delphi Automotive, a parts supplier.

Florida

A Tallahassee jury ruled in favor of Deloitte, and against the state’s Department of Financial Services, saying the accounting firm was not at fault in the demise of Poe Financial Group’s three property insurance companies, according to The Wall Street Journal.

The I.I.I.’s McChristian gave a PowerPoint presentation on business insurance this week at the Governor’s annual Hurricane Conference in Orlando.

Georgia

Atlas Roofing Corporation’s decision to discontinue production of its Chalet shingles has led to home insurer policy disputes in Forsyth County, according to this Atlanta Fox affiliate investigative story. Insurance Commissioner Ralph Hudgens appears in the piece.

Louisiana

The I.I.I.’s McChristian noted the importance of having a flood insurance policy in an interview that aired on Monday, May 11, on New Orleans’ Fox affiliate. Her appearance was prompted by this I.I.I. media advisory.

Beijing New Building Materials (BNBM) says it should be dropped from a lawsuit with the potential for hundreds of millions in damages because it does not manage Taishan Gypsum Co., Ltd, the maker of defective drywall. BNBM does, however, own 65 percent of Taishan’s stock.

The Army Corps of Engineers’ New Orleans District office says the permanent pump stations and storm surge gates under construction in the city at the ends of the 17th Street, Orleans Avenue and London Avenue canals are 50 percent complete.

Maryland The Maryland Insurance Administration issued a data call regarding claims related to the Baltimore riots. It was addressed to property/casualty insurers, the Maryland Automobile Insurance Fund (MAIF), the Joint Insurance Association (JIA) and surplus lines brokers.

The state’s Public Service Commission will regulate transportation network companies under a bill Governor Larry Hogan has signed into law. It will take effect on July 1, 2015, according to The Washington Post.

New York

Federal lawmakers are reassessing how Write Your Own (WYO) companies interact with FEMA’s National Flood Insurance Program (NFIP), according to a front-page story in Newsday (subscription required) on Sunday, May 10. The I.I.I.’s Hartwig was quoted in the article.

By the end of the year, Department of Financial Services Superintendent Benjamin Lawsky will propose new cybersecurity regulations for banks and insurance companies, according to remarks he made this week at a Reuters Financial Regulation Summit.

Chenango, Greene, Sullivan, Ulster and Yates counties have been the site of wildfires this month, and all campfires in the Catskill Forest Preserve were banned until Thursday, May 14, as a result of the dry weather conditions.

North Carolina

The state’s House approved a property insurance reform bill on Tuesday, May 12. It gives consumers 30 days to respond to a “consent to rate” letter and requires insurers to explain more clearly what a homeowner is consenting to.

Oklahoma

The Coalition to Stop Induced Seismicity wants Governor Mary Fallin to halt hydraulic fracturing in the 16 counties where there have been earthquakes, according to this story in Tulsa World.

SOCIAL MEDIA REPORT

The 7.3 magnitude earthquake that hit Nepal on Tuesday, May 12, was officially labeled an aftershock by the U.S. Geological Survey (USGS). One USGS researcher said Nepal should expect aftershocks for at least the next six to 12 months. Meanwhile, reinsurer GIC (General Insurance Corporation) of India expects losses from the Saturday, April 25, 7.8 magnitude Nepal quake to be $50 million.

Here in the U.S., Tropical Storm (TS) Ana became the first named system of the 2015 Atlantic Hurricane Season. On social, there were regular storm updates, people posting before and after pictures of TS Ana, and photos of people celebrating Mother’s Day (Sunday, May 10) in the rain.

According to the WSJ, National Transportation Safety Board (NTSB) investigators are focusing on the possibility that speed was a factor in the Tuesday, May 12, Amtrak derailment in Philadelphia. On social, news outlets are posting continuous updates on the NTSB’s investigation while condolences keep pouring in for those who died.

MEDIA MATTERS

Tribune Publishing has agreed to buy the Union-Tribune (U-T) San Diego for $85 million, “a sum that doesn’t include its Mission Valley headquarters.” The paper’s current owner, Doug Manchester, is seeking permission to build luxury apartments at the headquarters site.

Fox Business Network (FBN) is moving Maria Bartiromo’s show to 6 a.m., ET, from 9 a.m., ET, effective Monday, June 1. Stuart Varney will anchor from 9 a.m.-noon, ET, followed by Neil Cavuto’s Coast-to-Coast at noon, ET.

Stan Tiner, the Jackson, Mississippi Clarion-Ledger’s executive editor for the past 15 years, is retiring in September 2015.

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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