Live Insurance News

Disability insurance refunds coming to New York

April 25, 2013April 24, 2013 Logan B.

New York acquires refunds for disability insurance policies New York Governor Andrew Cuomo has announced that Zurich American, a leading insurance firm, will be providing refunds to disability insurance policyholders throughout the state. The refunds come due to Zurich running afoul of a state regulation that requires the insurer to pay no less than 60% of the premiums it collects on claims. Zurich was unable to meet this standard and will begin issuing refunds on disability insurance policies over the next month or so. Refunds signify strong regulatory action Governor…

New York regulators take strong action on homeowners insurance claims

March 8, 2013March 6, 2013 Logan B.

Homeowners insurance claims targeted by state regulators Regulators in New York are pressing hard against the insurance industry in the wake of Hurricane Sandy. The storm caused havoc throughout the state, leaving many properties damaged by widespread floods and strong winds. In the months that followed, victims of Hurricane Sandy struggled with their homeowners insurance providers in order to get their claims processed and receive the money they need to recover. Insurers, however, have been sluggish in handling these claims, leading state regulators to take more action for the sake…

New York institutes new homeowners insurance rules in wake of Hurricane Sandy

March 6, 2013March 5, 2013 Logan B.

New homeowners insurance rules take effect in New York Hurricane Sandy may be a distant memory for some, but many people along the East Coast continue to struggle with the damage the powerful storm caused in late October 2012. Nearly four months after the storm struck, homeowners in several states are still waiting for their claims to be processed by their insurance provider. Many of these claims concern flood insurance, while others are in the realm of homeowners insurance. In New York, lawmakers have instituted new rules that are expected…

Homeowners insurance payments in New York finally get approval

February 14, 2013February 25, 2013 Marc

Homeowners insurance continues to be a problem after Hurricane Sandy For the past several months, New York residents have been struggling to recover from the impact of Hurricane Sandy. Though the hurricane struck the state in late October 2012, the damage it has caused continues to linger due to the lack of funds needed for the recovery effort. Some victims of the powerful storm have seen their claims denied by their insurance companies, but the vast majority have experienced delays in their homeowners insurance payments; delays that have slowed recovery…

Flood insurance woes delay recovery in Long Island

February 7, 2013February 6, 2013 Dan

Long Island homeowners have yet to receive payouts from their flood insurance policies Thousands of residents in Long Island, New York, are still waiting on their insurance payouts in the aftermath of Hurricane Sandy. The powerful storm struck the island more than three months ago, but many of its homeowners are still struggling to recover from the damage caused by the devastating storm. Most of these homeowners have been in contact with their insurance providers, but insurers have continued to delay claims payments or outright denying claims due to technicalities.…