Tag: hurricane sandy

Many homeowners insurance claims in New Jersey go unpaid

Logan B.
Homeowners flood Insurance hurricane sandy damage

  Homeowners insurance claims from Hurricane Sandy remain unpaid Over the past several months, new concerning Hurricane Sandy has been somewhat steady. The powerful storm struck the Eastern U.S. back in October 2012, but its effects are still being felt presently. The storm struck New Jersey particularly hard and has caused several problems in the realm of homeowners insurance, especially as many consumers expressed confusion over the coverage they had for their properties. Report sheds light on troubled financial landscape in wake of powerful storm The report comes from the…

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New Jersey lawmakers take action on post-Sandy homeowners insurance

S.Vagus
Homeowners insurance New Jersey

Homeowners insurance landscape changes post-disaster Last year’s Hurricane Sandy dealt a powerful blow to the Eastern U.S. The powerful storm caused significant damage to homes and other properties in several states. In New Jersey, floods causing the most damage, putting heavy strain on the Federal Flood Insurance Program, which accounts for the majority of flood insurance protections in the country. The disaster brought several problems within the insurance sector to light, causing New Jersey lawmakers to take action on the issue of homeowners insurance in order to avoid future turbulence.…

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New Jersey insurance industry showing signs of change in wake of Hurricane Sandy

Logan B.
Inusrance Industry Hurricane Sandy

Insurance industry reforming after disaster Nearly six months after Hurricane Sandy struck New Jersey, the effects that the storm has had on the insurance industry are beginning to manifest. New Jersey is not expressly exposed to natural disasters like tropical storms and hurricanes, but the state has suffered from a direct hit from Hurricane Sandy, as well as tropical storm Irene some time before that. The damage caused by the disasters was immense, leaving thousands without homes and businesses without property. The insurance industry has worked to pick up much…

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Marine insurance sectors continues to struggle from 2012 losses

Marc
Marine Insurance

Marine insurance takes a grievous blow from Hurricane Sandy It has been nearly six months since Hurricane Sandy struck the U.S. and losses from the powerful storm are still being reported and tallied. The storm, which hit the East Coast in October 2012, caused widespread flooding throughout several states, but the storm surges created by the storm also had a powerful impact on the marine market, and not just in the U.S., but around the world. The International Union of Marine Insurance has released a new report highlighting the global…

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Workshops help New Jersey residents cut through red tape of flood insurance

Logan B.
Flood Insurance

Flood insurance bureaucracy delays recovery for many New Jersey residents that fell victim to last year’s Hurricane Sandy have been struggling to overcome the seemingly insurmountable challenges that continue to delay their recovery process. In the wake of the powerful storm, which hit New Jersey in late October, 2012, many homeowners found that their properties had been destroyed. In some cases, consumers were able to rely on their homeowners insurance and flood insurance policies in order to cover the costs of the damage done by Hurricane Sandy. Many others, however,…

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