Insurance news from Superstorm Sandy continues a year later

hurricane sandy flood insurance news

Many homeowners are still waiting and fighting with FEMA to be able to receive payouts. Though a year has now passed since Superstorm Sandy started making insurance news headlines, there are 88,750 people among the 155,287 who have filed a claim with an insurer or FEMA, who have been deemed unqualified for payments. There are hundreds of homes that were demolished during the storm that remain off-limits. Today, the insurance news has transformed from the initial devastation that occurred as a result of the storm, into the ongoing battle that…

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Homeowners insurance payments for Sandy damage approved

green homeowners insurance claims payments

The victims of the superstorm will still have a wait, as the checks have been delayed for release. Almost $208 million in homeowners insurance claims payments have now been approved, in the form of approximately 6,600 checks, but they have yet to be released in order to assist those policyholders who are waiting According to Governor Andrew Cuomo, the checks are at the banks, but they haven’t been sent out. Cuomo explained that his administration is currently working with the banks in order to help to make sure that the…

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Hurricane Sandy incites major confusion in New Jersey

Flood Insurance Hurricane Sandy Jersey Shore

Hurricane Sandy causes widespread confusion The impact of Hurricane Sandy continues to be felt despite the storm having made landfall and dissipating several months ago. A New Jersey State Assembly committee met late last week to address yet another issue that has arisen in the wake of Hurricane Sandy. Over the past few months, lawmakers and citizens alike have been working to overcome problems with insurance coverage, claims, and the damage caused by widespread flooding. Now, however, state officials must combat the growing confusion that Hurricane Sandy has generated, which…

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Hurricane Sandy victims suffer long wait for insurance adjusters

Hurricane Sandy Damage flood Insurance surcharge

Hurricane Sandy brings significant delays to claims processing Hurricane Sandy may be gone, but its impact is expected to be felt well into the future. Homeowners affected by the powerful storm have been struggling with their insurance providers. Insurance adjusters were deployed ahead of the storm to help manage claims and make sure everything was processed in a quick and efficient manner. Unfortunately, Hurricane Sandy has proven to be more problematic than insurers had previously expected. Insurance adjusters are now telling victims that it could take more than two weeks…

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Homeowners insurance customers to receive assistance with Sandy claims

Homeowners flood Insurance

Officials in New York have changed the regulations to help ease the process and help victims. Homeowners insurance companies that are providing coverage to residents of New York whose homes were damaged by Hurricane Sandy will now be facing some different rules to help speed up claims processing. The new rules have to do with the acceptable forms of loss documentation. For claims relating to damage caused by superstorm Sandy in New York, homeowners insurance companies are now required to accept the documentation of the losses provided by the policyholders,…

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Insurance news from Hurricane Sandy reveals many struggling with lack of coverage

Homeowners flood Insurance

Uninsured homeowners, renters, auto and business owners are facing massive losses. Though Hurricane Sandy left devastation along the eastern coast of the United States, those who are making insurance news with the most acute financial struggles are the people who did not have coverage for what was lost. Those with policies may have deductibles to face and a long road of recovery ahead, but they’re the lucky ones. When the insurance news involves individuals who have a policy, it is tragic that their home was damaged or that possessions were…

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Hurricane Sandy may cause $20 billion in losses

New York grocery store sold old of water due to Hurricane Sandy

Hurricane Sandy makes landfall, causing chaos Hurricane Sandy is causing havoc in the northeastern U.S. The storm finally made landfall on Monday, striking New Jersey with 115mph winds that pushed water from the ocean into several states along the East Coast, including Virginia, New York, and Maryland. Though the storm is classified as a Category 1, it has already managed to caused a significant amount of damage with just its powerful winds. When the flooding that the storm has caused is factored into its overall impact, Hurricane Sandy could be…

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