Tag: superstorm sandy

Flood insurance payments still not received by many in Long Island

H. Cutner
flood Insurance payments time

Many homeowners have yet to obtain anything from coverage settlements after Superstorm Sandy. Thousands of people in Long Island are still waiting for the funds that they need to rebuild, as their final flood insurance settlements have yet to be made, leaving them to have to pay contractors out of their own pockets in order to complete the half finished jobs that were started after Sandy hit over three months ago. These homeowners are facing financial struggles and are becoming highly frustrated with the lack of payment. A large number…

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Hurricane Sandy emergency relief moves one step forward

Marc
Hurricane Sandy Damage flood Insurance surcharge

Hurricane Sandy relief package makes modest progress Little more than 10 weeks have passed since Hurricane Sandy visited the East Coast, leaving a path of destruction in its wake. The recovery effort is still underway as those affected by the storm try to regain some semblance of balance in their lives. Late last week, the U.S. House of Representatives finalized their approval of a $50.5 billion emergency relief plan designed to help the victims of Hurricane Sandy. The move exposed divisions throughout the Legislative branch, creating a significant amount of…

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Obama signs relief bill for hurricane Sandy but that’s just the start

Nordstrom
US Congress Hurricane Sandy Relief Plan

Hurricane Sandy Aid – congress to vote on more funds The $9.7 billion flood relief bill for insurance claims was signed into law by Pres. Obama while House waits to vote on a larger Sandy relief deal worth up to $51 billion. Pressure from FEMA The Federal Emergency Management Agency (FEMA) had pushed for Sandy relief, stating that without addition funding they money to help will quickly run out. The White House reports that over 100,000 claims could not be paid out without more funding from Congress. John Boehner, Speaker…

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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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Insurance news from Eerie includes $100,000 donation to Sandy victims

insurance news red cross

The American Red Cross will be distributing the funds among those who need it most. The latest Eerie Insurance news is that the company has announced that it will be making a donation of $100,000 to the victims of Hurricane Sandy through the American Red Cross. The funds will be used to assist people in New York, Maryland, and Pennsylvania. According to the president and CEO of ERIE, Terry Cavanaugh, “There is always a great need that follows catastrophes of this magnitude and the Red Cross is the go-to resource…

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