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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Insurance news from Swiss Re reveals Sandy and extreme weather loss estimates
The Superstorm and other disasters were found to have caused $77 billion in insured losses. The second largest reinsurer on the globe has issued its insurance news data regarding natural catastrophes as well as manmade disasters last year accumulated a cost to the industry of $77 billion. This makes 2012 the third most costly year that the industry has ever recorded. According to the Swiss Re insurance news report, there were over 300 different disasters and catastrophes last year. Together, they led to the loss of more than 14,000 lives.…
Read MoreAuto insurance estimates for damage from Sandy reach 230,000 vehicles
The NICB has released its preliminary estimates from the superstorm, showing most is in NY. The National Insurance Crime Bureau has now revealed its preliminary auto insurance estimates for vehicles that were damaged when Sandy came crashing through. The NICB believes that there were around 230,000 vehicles affected by the storm. The auto insurance estimates have indicated that of that total, around 130,000 are located in the state of New York, while another 60,000 are in New Jersey. The remaining 40,000 vehicles in that total are from Maine, Washington D.C.,…
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