Hurricane Sandy News

Sandy Lesson for Business Owners: Read Policy, Keep Track of Notice Provisions

It’s been six months since Superstorm Sandy made its landfall on the coast of New Jersey and became one of the costliest storms ever recorded in the U.S. Many businesses in the region are still recovering from the effects of …

Katrina, Sandy Offer Similar Lessons for Builders

Lessons learned from Hurricane Sandy about how best to limit damage to buildings closely track those of Katrina, a federal engineer said. Elevating generators and pumps is a good idea but enclosing elevated foundations that might be hit by waves …

Swiss Re Study for 2012 Losses: $77 Bn Insured; $186 Bn Economic

Swiss Re has released its latest sigma study, which found that economic losses from natural catastrophes and man-made disasters reached $186 billion in 2012. Insured losses amounted to $77 billion, making 2012 the third most costly year on record. Weather …

N.J. Gov.: FEMA May Scale Back Hazardous Designations in New Flood Maps

Since shortly after Superstorm Sandy pummeled the Jersey shore last October, homeowners up and down the coast have agonized over whether to raise their homes to survive future storms.And when the federal government issued a revised set of preliminary flood …

New Maps Put 33K More New Jersey Homes in Flood Zones

New Jersey’s adoption of expanded flood maps in the wake of Superstorm Sandy has put more than 33,000 additional residential buildings in flood zones, a nearly 15 percent increase.The disaster recovery plan announced last week by the Christie administration shows …

FEMA Data Suggests Some Insurers Handling NFIP Claims Faster Than Others

Up and down the Atlantic coast, people are telling horror stories about how long it has taken to get an insurance check for flood damage caused by Superstorm Sandy. Nearly 40 percent are still waiting for the final settlements they …

N.J. Congressional Delegation Expresses Concern Over NFIP Claims

On Tuesday Feb. 12, New Jersey’s Congressional delegation sent a letter to Federal Emergency Management Agency Administrator W. Craig Fugate, expressing their concern over what the delegation described as “the backlog of claims” in the National Flood Insurance Program (NFIP). …

National Hurricane Center Report: Sandy Was 2nd-Costliest Hurricane in U.S.

Superstorm Sandy was the deadliest hurricane in the northeastern U.S. in 40 years and the second-costliest in the nation’s history, according to a report released Tuesday, Feb. 12.The storm’s effects reached far and wide, according to the National Hurricane Center …

Florida Senate to Unveil Property Insurance Reforms

Florida lawmakers are planning next week to release a draft version of a property insurance reform bill. The Senate Banking and Insurance Committee has taken the lead on property insurance reform this year and so far has listened to more …

Colorado Politicians Mad Over Sandy Bill Minus Wildfire Aid

Colorado politicians are steaming that $125 million in aid for last year’s wildfires was removed from the Sandy relief bill. The Republican-controlled House of Representatives stripped that funding from the Sandy bill before approving it last week. That infuriated Colorado’s …