Tag: sandy insurance

Insurance news from Superstorm Sandy continues with legal battles

G. Turner
Hurricane Sandy Damage flood Insurance surcharge

Victims of the storm are seeking lawyers to help them when they head to the courts. Victims of Superstorm Sandy are continuing to face considerable challenges which are making insurance news headlines as these individuals and families are now seeking legal representation in order to help them to obtain the funds that they feel are owing to them from their insurers. In many cases, it is not that the insurers haven’t paid out, but that the policyholders feel that damage was underestimated. One instance of this type of insurance news…

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New York regulators take strong action on homeowners insurance claims

Logan B.
Homeowners Insurance

Homeowners insurance claims targeted by state regulators Regulators in New York are pressing hard against the insurance industry in the wake of Hurricane Sandy. The storm caused havoc throughout the state, leaving many properties damaged by widespread floods and strong winds. In the months that followed, victims of Hurricane Sandy struggled with their homeowners insurance providers in order to get their claims processed and receive the money they need to recover. Insurers, however, have been sluggish in handling these claims, leading state regulators to take more action for the sake…

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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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