AIR Worldwide recently concluded damage survey of areas impacted by Superstorm Sandy, which made landfall on Oct. 29, five miles southwest of Atlantic City, New Jersey. On November 11, 2012, AIR teams were deployed to survey damage in New York …
A number of insurers have begun issuing their Sandy loss estimates in the weeks since the superstorm devastated the East Coast. The SNL Financial compiled these company-specific loss estimates in a new report this week. United Fire Group Inc. expects …
New York City police are working to prevent unscrupulous tow truck drivers from taking storm-damaged vehicles before insurance companies can get to them. NYPD Deputy Inspector Joseph Kenny tells WABC-TV that some tow truck drivers pretend they’re contracted by the …
Catastrophe modeling firm Risk Management Solutions’ insured loss estimate for Sandy would be in the range of $20 billion to $25 billion, according to a report from The Wall Street Journal.RMS has not yet published its estimate publicly as of …
As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance attorneys from international law firm Edwards Wildman Palmer LLP, …
Property/casualty insurer Chubb Corp. suspended its stock buyback program, because it has not yet been able to determine what its total costs related to Superstorm Sandy will be. The Warren, N.J.-based company is considered to be one of the insurers …
People looking to rebuild their lives after Superstorm Sandy destroyed and damaged their homes may now have another struggle on their hands: Navigating the often-frustrating claims process with their insurance companies. This time around, people won’t be paying exorbitant hurricane …
Damage and economic losses from Superstorm Sandy will cost New York state $33 billion, Gov. Andrew Cuomo said last Thursday, and come just as state government runs up a deficit. Cuomo called the estimate “a lot of money, even for …
A veteran attorney who spent several years defending insurance companies in lawsuits from Hurricane Katrina is offering advice to insurers on class action and bad faith exposure post-Sandy. Insurers will be denying claims where flood is not covered by their …
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 …
