The New York State Assembly’s insurance committee on Thursday approved a bill that would prohibit the insurer’s use of anti-concurrent causation (ACC) clauses in the state. The bill, A07455, is now eligible to be voted on by the entire Assembly. …
More than 4,000 home and auto claims have been filed as a result of the recent spate of tornadoes in Oklahoma. That number is expected to rise, according to Oklahoma Insurance Commissioner John D. Doak. Doak has previously said that …
A New York State Assemblyman has introduced a bill that seeks to prohibit the insurers’ use of anti-concurrent causation (ACC) clauses in the state. The bill, A07455, was introduced on May 17 by Assemblyman Phil Goldfeder (D-Rockaway Park). “In the …
Maryland has enacted a new law requiring insurers that write homeowners policies in the state with anti-concurrent causation clauses to explain these clauses to their policyholders on an annual basis. Maryland Gov. Martin O’Malley signed into law H.B. 695 (“Homeowner’s …
New York Gov. Andrew Cuomo and the state’s Department of Financial Services announced the “bottom 10″ banks with the worst statistics for paying out insurance claims to Superstorm Sandy victims. Officials said they have notified these banks to speed up …
New York’s attorney general says a growing number of people are seeking legal assistance for battles with insurance companies over damage caused by Superstorm Sandy. Attorney General Eric Schneiderman said Wednesday that he is awarding $743,000 in grants to 18 …
State Farm Fire and Casualty Co. resolved its dispute against former Penn State assistant football coach Jerry Sandusky over the insurer’s homeowners coverage. At issue was whether State Farm would be obligated to pay for any defense costs or awards …
New York Gov. Andrew Cuomo announced Wednesday that major banks and mortgage servicers will take action to expedite insurance payments to New York homeowners in the wake of Superstorm Sandy. Currently, insurance claim checks must be endorsed by the banks …
New York Governor Andrew Cuomo on Thursday imposed emergency regulations on insurers to speed the processing of claims from hundreds of thousands of state residents whose properties were damaged or destroyed when Superstorm Sandy struck a month ago.Among the measures …
New York Gov. Andrew Cuomo said Monday, Nov. 5, that he is ordering insurance companies to ease rules on documenting Sandy-related damages during the claims filing procedure. The governor said that, at his direction, the Department of Financial Services is …
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