Homeowners insurance claims for Sandy aren’t all going smoothly

Hurricane Sandy flood insurance

Some policyholders are struggling while officials remind claimants to be “smart” when they file. New York state officials are recommending that homeowners insurance policyholders be “smart” about the way that they file their claims related to damage from Sandy and are also stating that they should know that they are not required to accept the first offer that is made by their insurers. There are many disagreements between claimants and insurers about issues such as flooding. Many homeowners insurance customers are finding themselves battling out the details of their claims…

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Insurance news from New York Governor makes steps to accelerate Sandy claims

New York Governor Andrew Cuomo Insurance News

Gov. Andrew Cuomo has met with the state’s leading insurers to make important changes. As New York continues to battle with the aftermath of superstorm Sandy, the state is making insurance news by hacking its way through bureaucratic red tape in order to help the 360,000 victims of the storm to receive faster payments. A new online system is also being created in order to help gauge the performance of insurers. This insurance news is notable because the online system will allow insurers to be graded based on their response…

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New York insurance companies to pay customers $262 million following investigation

New York Governor Andrew Cuomo Insurance News

An investigation into New York insurance companies resulted in $262 million in payments. State Governor Andrew Cuomo has announced that several New York insurance companies selling life insurance products will be required to pay out $262 in unpaid benefits following a probe into the practices of firms across the state. What the investigation determined was that these life insurers were required to make $262.2 million in payments for 32,715 beneficiaries who were unaware that their deceased loved ones had policies for which a claim could be made. The New York…

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