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So they took in $15 million in non-refundable entries and then want to make some serious money on the insurance. No wonder Bloomberg agreed to cancel the race after witholding generators for quite a while after Sandy hit.
And why do they think they should receive their insurance monies any faster than those that actually had property damage & no longer have homes to live in?
And wonderful Bloomberg said it was illegal to give starving families fast food because of the possible sodium content of the food. Something is seriously wrong with these people in NY. You couldn’t pay me enough to live up there in that cesspool.
They should use it to 1st reimburse all the participants who had non-refundable arline tickets & hotel reservations.
….and they should offset all the HURRICANE deductibles from any left over proceeds. And YES – I CALLED A HURRICANE A HURRICANE!
From what I heard, Cuomo “told” the insurance industry to waive their wind deductibles on policies. Contracts don’t mean anything anymore, at least in NY.
I believe he “told” insurers that hurricance deductibles wouldn’t apply.
You are right – hurricane deductibles won’t apply, but if the insurance policy did not have a “hurricane” deductible and instead had a “wind” deductible, then the “wind” deductible based usually on a percentage, will still apply. HUGE cost for consumers
Then, they turned around and said it wasn’t a hurricane after all.