Tag: superstorm sandy

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 AIG predicts $2 billion in Sandy losses

H. Cutner
AIG Insurance company CEO - Building in Manhattan

The superstorm has taken its toll on the states and insurers are starting to release their numbers. AIG has announced that it expects to have lost $2 billion in pre-tax costs due to superstorm Sandy’s impact on the United States. This was revealed at the same time that it said it would be making a $5 billion sale of its aircraft leasing business. The storm, which smashed its way across the American Northeast coast led to more than 100 deaths and made insurance news with its vast amounts of property…

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Auto insurance estimates for damage from Sandy reach 230,000 vehicles

H. Cutner
Homeowners flood Insurance

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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Homeowners insurance customers to receive assistance with Sandy claims

H. Cutner
Homeowners flood Insurance

Officials in New York have changed the regulations to help ease the process and help victims. Homeowners insurance companies that are providing coverage to residents of New York whose homes were damaged by Hurricane Sandy will now be facing some different rules to help speed up claims processing. The new rules have to do with the acceptable forms of loss documentation. For claims relating to damage caused by superstorm Sandy in New York, homeowners insurance companies are now required to accept the documentation of the losses provided by the policyholders,…

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