Tag: Flood Insurance

New York braces for another powerful storm

S.Vagus
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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National Flood Insurance Program takes limelight in wake of Sandy

S.Vagus
Flood Insurance

National Flood Insurance Program could be in bad position to deal with Hurricane Sandy The National Flood Insurance Program is being put to the test in the wake of Hurricane Sandy. The federal program is responsible for the majority of flood insurance policies in the U.S., but has been facing extreme financial problems that could threaten its ability to pay claims. The program is currently crippled by massive debt and federal lawmakers have been unable to solve the problems facing the program. Now, the impact of Hurricane Sandy is finally…

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Flood insurance records show Sandy is third largest

Julie Campbell
Inusrance Industry Hurricane Sandy

The Superstorm off the Atlantic is predicted to be less expensive than only Hurricanes Katrina and Ike. The damage caused by Superstorm Sandy is now predicted to be the third most expensive faced by the National Flood Insurance Program in the United States, and will have the largest amount of cost outside of the Gulf Coast region of the country. The states that were hardest hit include New York and New Jersey. According to Bloomberg Government’s BGOV Barometer, those two states are covered for nearly $100 million in flood insurance,…

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Hurricane Sandy may cause $20 billion in losses

S.Vagus
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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Hurricane Sandy slams East Coast

S.Vagus
Hurricane Sandy Insurance News

Hurricane Sandy makes landfall and insurers scramble to mitigate impact Hurricane Sandy has hit  the East Coast of the U.S. after building in strength throughout the majority of the past week. U.S. Insurers have been working to prepare for the hurricane, which is expected to cause a significant amount of damage as it passes through densely populated cities in the northeastern region of the country. Claims teams and insurance adjusters have been mobilized to areas that are expected to see the most damage ahead of the storm in an attempt…

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