Lenders ease their grip on claims funds for Hurricane Sandy relief

Hurricane Sandy Damage flood Insurance surcharge

Hurricane Sandy claims payouts to be freed due to agreement with Department of Financial Services Eleven of New York’s major lending companies have reached an agreement with the state’s Department of Financial Services. The agreement involved expediting the claims payouts that are due to homeowners that have been affected by Hurricane Sandy. Many of these homeowners are waiting on their claims payouts in order to begin the recovery process, but insurance companies have been issuing payouts at a sluggish pace for some time. The state government is keen to increase…

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Hurricane Sandy sparks aggressive support from New York officials

Homeowners flood Insurance

New York officials mobilize to help victims in wake of Hurricane Sandy Homeowners in New York are still reeling in the wake of Hurricane Sandy, which struck the state and its neighbors in late October. The storm proved to overcome expectations of its strengths and caused havoc throughout the state, generating widespread floods and claiming 131 lives in the U.S. Insurers are still evaluating the damage caused by the storm, but estimates concerning Hurricane Sandy’s impact suggest that the storm caused some $50 billion in damages. Staten Island residents find…

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Senator Schumer takes aim at insurers in wake of Hurricane Sandy

Senator Schumer hurricane sandy

Senator Schumer troubled over actions of insurance companies Hurricane Sandy has caused a lot of trouble for insurance companies, consumers, and state governments in the Eastern U.S. New York, in particular, has seen a great deal of these troubles manifest in the wake of the powerful storm. With storm surges causing widespread flooding and damages being done to homes and other properties, the state is reeling from the impact of Hurricane Sandy. Senator Charles Schumer believes that the troubles are just beginning for the state, however, especially as insurers look…

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New York braces for another powerful storm

Hurricane Sandy Flood Insurance New York Storm

New York insurers will have to accept photo proof of storm damage New York is still reeling from the impact of Hurricane Sandy, which plowed through the state late October. Now, New York is facing another storm front threatening to worsen the problems it is already facing. Governor Andrew Cuomo claims that the oncoming storm is “serious” and that it could deal yet another painful blow to homeowners. Because the storm presents a threat, the Governor has taken action and has declared that insurance companies will accept photo proof of…

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New York to build health insurance exchange after executive order is issued

New York Governor Andrew Cuomo Insurance News

New York health insurance system gets the go ahead With the current fate of the federal Affordable Care Act unknown, many states have slowed down in making progress on complying with the law’s various provisions. One provision in particular concerns the establishment of health insurance exchanges in each state. These exchanges are meant to help lower the cost of health insurance coverage by increasing competition amongst insurers. The initiative has been somewhat popular amongst consumers and some insurance companies, but state lawmakers have been divided on the issue since the…

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New York farmers to get more aid from insurers after tropical storms

Farmers in New York will be getting some additional help from insurers after requests for financial aid were approved by Governor Andrew Cuomo. New York farmers have been struggling to recover from recent tropical storms that struck the East Coast. Tropical Storms Irene and Lee brought widespread flooding to the state, which caused damage to more than 320 farms. In some cases, these floods completely decimated crops, leaving farmers without a way to generate revenue. Governor Cuomo has approved a plan to distribute an additional $850,000 to more than 100…

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Governor Cuomo seeks higher penalties for drivers caught texting

Governor Andrew Cuomo of New York is seeking to crack down on drivers who text while behind the wheel, and to introduce tougher penalties for those who are caught.  On Friday, June 10, 2011, Cuomo proposed the introduction of a bill that addresses distracted driving.  This new bill would make this type of activity a primary offense, giving officers the right to pull over drivers who are caught typing on their mobile devices while the vehicle is in operation.  In New York, texting behind the wheel is still considered to…

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