Live Insurance News

Insurance news still being made by Superstorm Sandy with criminal probe

January 26, 2015January 24, 2015 G. Turner

An investigation has now been launched by New York Attorney General Eric Schneiderman. New York Attorney General Eric Schneiderman is now making insurance news by opening a criminal probe into widespread accusations that have been made by the victims of Hurricane Sandy, who have said that their claims for flood damage have been rejected by their insurers as a result of engineering reports that were falsified. Three lawsuits have been filed by homeowners insurance customers in federal court, against the insurers. This insurance news involves at least three lawsuits in…

Judge orders insurance companies to submit records from Superstorm Sandy

January 1, 2015December 30, 2014 Julie Campbell

The purpose is to help to determine whether or not damage reports had been edited by engineering contractors. An order has now been issued by U.S. Magistrate Judge Gary Brown to insurance companies that requires them to submit massive quantities of additional records related to the damage investigated following Superstorm Sandy, which could help to find out whether or not engineering contractors had edited the reports that they had made in order to inaccurately reduce the payouts that were issued to hundreds – or possibly thousands – of victims of…

Flood insurance claims probe sought by New Jersey Senator

November 18, 2014November 15, 2014 H. Cutner

Hurricane Sandy Damage flood Insurance surcharge

U.S. Sen. Robert Menendez feels that victims of Superstorm Sandy were shortchanged by insurers. According to U.S. Senator Robert Menendez (New Jersey), the Federal Emergency Management Administration (FEMA) should be conducting an investigation into allegations that are being made that flood insurance companies that have been handling the flooding damage claims from Superstorm Sandy are manipulating the situation in order to shortchange policyholders. Senator Menendez held a press conference from his office in Newark, New Jersey. At the press conference, Senator Menendez called for Craig Fugate, the FEMA Administrator, to…

Flood insurance deadline extended by FEMA

May 2, 2014April 30, 2014 G. Turner

This means that victims of Superstorm Sandy will have another 6 months to submit their paperwork. For most of the people across the country, Superstorm Sandy is nothing more than a bad memory, but for many homeowners who have yet to be compensated by flood insurance, it is a nightmare that feels like it will never end. FEMA is now trying to express its understanding of the situation of homeowners who were victims of Sandy. Though it may have been quite some time ago, the flood insurance claims continue to…

Connecticut insurance payout timing for Sandy running out

February 12, 2014February 10, 2014 H. Cutner

Fifteen months after the superstorm smashed its way through the area, homeowners are still waiting for their insurers. While Superstorm Sandy may no longer be making the top headlines anymore it doesn’t mean that the Connecticut insurance industry has finished up with all of the claims and payouts that were wrapped into this horrendous natural disaster that ripped across the east coast of the country. Some homeowners insurance customers are still waiting to receive the payouts for their claims. The problem is that time is starting to run out according…