Tag: sandy insurance

Homeowners insurance payments in New York finally get approval

Marc
New York homeowners insurance payments

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…

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Insurance news from Bermuda shows an estimated $3 billion in Sandy damages

insurance news - atlantic hurricane season

These estimates include only the insured damages, based on the claims that have been received. According to official insurance news estimates regarding the cost of Superstorm Sandy to Bermuda insurers and reinsurers, the total so far is approximately $3 billion, but that amount may grow to be much larger. Seventeen insurers in the country have now released their preliminary estimates for their storm losses. At the moment, the total of these estimates for the losses related to Sandy have come to $2.987 billion in potential claims. The majority of this…

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Flood insurance applications soar on Sandy’s heels

Julie Campbell
flood insurance policies

Following the superstorm, many homeowners have been inquiring about coverage against flooding. As the claims following Superstorm Sandy continue to be managed, insurers are finding that they are being contacted by consumers for an entirely different reason, which is to learn more about flood insurance and to add the protection to their homes. The reality of the risk involved in a potential storm such as Sandy has now become more than clear. Agents and brokers alike are reporting that flood insurance is one of the top reasons that they are…

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Insurance news from Zurich shows a massive $700 million superstorm bill

H. Cutner
Insurance news losses

The European insurer has released the figures relating to its claims from Sandy. Zurich has just released its latest insurance news by becoming the most recent insurer to have connected its figures to the damage caused by Hurricane Sandy, reporting that it is expecting that its net claims will reach approximately $700 million. These predictions are following closely on the heels of the figures release made by AIG. The numbers that were issued by AIG had forecasted that the storm would have generated post-tax net losses of approximately $1.3 billion.…

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Homeowners insurance policy details will likely change due to Sandy

Homeowners flood Insurance

Many people may find that their premiums and their deductibles will rise because of the superstorm. The northeastern states were slammed by superstorm Sandy, generating a tremendous number of homeowners insurance claims, and have led experts in Delaware to predict that this will generate a number of changes to customer policies, including to the premiums they pay and the deductibles they face. The direct impact of the storm was only the first stage in the damage that it caused. Even though the damage faced by residents of Delaware led to…

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

H. Cutner
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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Insurance news from Canada shows $100 million in claims from Sandy

Julie Campbell
Toronto Ontario Canada Auto Insurance News

After the superstorm pummeled through the United States, it smashed into Canadian provinces. According to the most recent insurance news estimates from Canada, after leaving the United States, superstorm Sandy led to insured property damage that will total approximately $100 million. These statistics were issued from the Insurance Bureau of Canada (IBC) based on claims received. The IBC has based this data on the claims that are being made in the Canadian provinces of Ontario and Quebec. The estimate is still considered to be preliminary, but it has now been…

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