New York legislators have introduced a bill this week that seeks to cap the percentage-based hurricane deductibles for homeowners’ insurance or dwelling fire personal lines policy in New York State at $1,500.The bill also seeks to establish that such hurricane …
With 2013 just around the corner, a number of states are preparing to implement new insurance-related laws. Insurance Journal highlights some of the changes that will take place around the country.
On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast—a year to the day since the last northeastern superstorm and fourteen months since Hurricane Irene — the wind speeds recorded by the National Weather Service indicated the …
Allstate Corp.’s chief executive said the company’s effort during the past five years to reduce exposures along the East Coast is helping to lower Sandy-related losses. “It’s still too early to tell on either the volume, the mix or the …
When the National Hurricane Center declared Sandy a “post-tropical storm” just before it made landfall, a lot of homeowners across New Jersey, New York, Connecticut and Maryland may have saved a lot of money. The governors of these states have …
Connecticut insurance department announced that it has updated its coastal underwriting guidelines to clarify when hurricane deductibles can be applied. The hurricane deductible issue has been in the spotlight in wake of Tropical Storm Irene. Some policyholders in Connecticut saw …
New York and New Jersey regulators said recently that hurricane deductibles should not apply on homeowners’ insurance policies for Irene damages in their states. That’s because Irene was downgraded and designated as a tropical storm, not a hurricane, when it …
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