Insurance Journal » Superstorm Sandy http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Sat, 01 Aug 2015 08:17:24 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 Is Climate Change Now Its Own Industry? http://www.insurancejournal.com/news/national/2015/07/30/377086.htm Fri, 31 Jul 2015 00:16:43 +0000 http://www.insurancejournal.com/?p=377086 Interest in climate change is becoming an increasingly powerful economic driver, so much so that some see it as an industry in itself whose growth is driven in large part by policymaking. The $1.5 trillion global “climate change industry” grew …

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Study: Ongoing Recovery Efforts Take Mental Health Toll on Sandy Survivors http://www.insurancejournal.com/news/east/2015/07/30/377014.htm Thu, 30 Jul 2015 16:59:32 +0000 http://www.insurancejournal.com/?p=377014 A new study says the lingering effects of Superstorm Sandy — in the form of unfinished repairs, disputed claims, and recurrent mold — are associated with increased odds of Sandy-impacted residents experiencing mental health distress, post-traumatic stress disorder (PTSD), and …

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N.J. Files Eminent Domain Actions Against Beachfront Property Owners http://www.insurancejournal.com/news/east/2015/07/20/375724.htm Mon, 20 Jul 2015 14:39:28 +0000 http://www.insurancejournal.com/?p=375724 New Jersey Gov. Chris Christie’s administration has begun legal proceedings to obtain land from beachfront property owners so the state can build dunes to protect against storms. The New Jersey Department of Environmental Protection said on July 16 it filed …

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Amtrak Settles With Primary Insurers in Sandy Lawsuit http://www.insurancejournal.com/news/east/2015/07/16/375175.htm Thu, 16 Jul 2015 16:40:23 +0000 http://www.insurancejournal.com/?p=375175 Amtrak recently reached a settlement with its primary insurers in a lawsuit in which the railroad operator sought to recoup additional proceeds for Superstorm Sandy losses from its insurers, according to court documents. Terms of the settlement were not disclosed …

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Can Lower-Income Households Afford to Live at the Jersey Shore Anymore? http://www.insurancejournal.com/news/east/2015/07/06/374122.htm Mon, 06 Jul 2015 15:43:21 +0000 http://www.insurancejournal.com/?p=374122 It was a Superstorm Sandy double-whammy. About 15,600 rental units in New Jersey sustained severe damage during the hurricane, forcing thousands of renters out of their homes. These newly homeless tenants quickly learned that they were priced out of the …

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FEMA Sets Sept. 15 Deadline for Requesting Sandy Flood Claims Review http://www.insurancejournal.com/news/east/2015/06/29/373357.htm Mon, 29 Jun 2015 16:55:23 +0000 http://www.insurancejournal.com/?p=373357 The Federal Emergency Management Agency (FEMA) announced that Sept. 15 would be the last day for National Flood Insurance Program (NFIP) policyholders who filed Superstorm Sandy flood claims to sign up for the review process. “While extensions may be granted …

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N.J. Sen. Menendez Warns of Predatory Groups Targeting Sandy Victims http://www.insurancejournal.com/news/east/2015/06/16/371907.htm Tue, 16 Jun 2015 15:20:44 +0000 http://www.insurancejournal.com/?p=371907 U.S. Senator Bob Menendez (D-N.J.) is urging Sandy victims to be wary of scam-artists offering to help them navigate through the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) claims review process in exchange for a substantial cut …

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FEMA: Nearly 1,000 Sandy Claimants Signed Up for Claims Review So Far http://www.insurancejournal.com/news/east/2015/05/29/369935.htm Fri, 29 May 2015 23:21:11 +0000 http://www.insurancejournal.com/?p=369935 The Federal Emergency Management Agency (FEMA) last week sent out its first round of letters to the National Flood Insurance Program (NFIP) policyholders who filed Superstorm Sandy-related claims, offering them a chance to have their claims reviewed — and FEMA …

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N.J. Gov. Christie Marks 300th Home Acquired Under Post-Sandy Program http://www.insurancejournal.com/news/east/2015/05/29/369919.htm Fri, 29 May 2015 14:59:01 +0000 http://www.insurancejournal.com/?p=369919 New Jersey Gov. Chris Christie said Wednesday more than 300 homes have now been acquired by the state under a post-Superstorm Sandy buyout program, as he blasted other homeowners for refusing to give the state the right to build protective …

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Jersey Shore Still Recovering as 3rd Post-Sandy Summer Nears http://www.insurancejournal.com/news/east/2015/05/22/369155.htm Fri, 22 May 2015 16:20:22 +0000 http://www.insurancejournal.com/?p=369155 In the months after Superstorm Sandy devastated the Jersey shore, New Jersey Gov. Chris Christie warned residents the damage would not be quickly undone. Things would only look moderately better in the first summer after the storm, he said, and …

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FEMA Sends Out 1st Round of Letters Offering to Review Sandy Flood Claims http://www.insurancejournal.com/news/east/2015/05/19/368665.htm Tue, 19 May 2015 22:38:20 +0000 http://www.insurancejournal.com/?p=368665 The Federal Emergency Management Agency on Monday mailed out its first round of letters to the National Flood Insurance Program policyholders who filed Superstorm Sandy-related claims, asking whether they want their claims reviewed. FEMA is mailing its letters beginning Monday …

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New Jersey’s Sandy Victims Protest Pace of Rebuilding Aid Programs http://www.insurancejournal.com/news/east/2015/05/15/368356.htm Fri, 15 May 2015 16:09:05 +0000 http://www.insurancejournal.com/?p=368356 Wendy Joan sported strips of red tape on her jeans and jacket to symbolize the delays she has encountered with New Jersey state agencies and joined other Superstorm Sandy victims Thursday in Trenton, New Jersey, rallying to voice their frustration …

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N.J. Senate Panel Passes Bill Aimed at Transparency in Sandy Aid http://www.insurancejournal.com/news/east/2015/05/14/368181.htm Thu, 14 May 2015 15:41:03 +0000 http://www.insurancejournal.com/?p=368181 New Jersey residents affected by Superstorm Sandy would be owed a timeline detailing when state aid would be distributed under a bill advancing in the New Jersey Legislature. The state’s Senate budget committee on Tuesday unanimously approved a bill that …

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FEMA to Ask Sandy Homeowners If They Want to Reopen Claims http://www.insurancejournal.com/news/east/2015/05/08/367349.htm Fri, 08 May 2015 14:13:50 +0000 http://www.insurancejournal.com/?p=367349 Homeowners insured through the National Flood Insurance Program who think they were shortchanged for Superstorm Sandy damage are getting another chance for reimbursement. The Federal Emergency Management Agency will begin asking whether they want to reopen their claims, Rep. Chris …

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Participation Dwindles in Home Rebuilding Initiative in New Jersey http://www.insurancejournal.com/news/east/2015/05/04/366752.htm Mon, 04 May 2015 16:36:04 +0000 http://www.insurancejournal.com/?p=366752 More than 15,000 homeowners, whose properties sustained damage during Superstorm Sandy, applied for acceptance into New Jersey’s largest rebuilding initiative, the Rehabilitation, Reconstruction, Elevation and Mitigation (RREM) program. Now, almost two years after RREM began accepting applications, 8,300 remain engaged …

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FEMA Chief on Sandy Flood Insurance Claims: ‘We Want to Fix This’ http://www.insurancejournal.com/news/east/2015/05/04/366668.htm Mon, 04 May 2015 14:14:59 +0000 http://www.insurancejournal.com/?p=366668 The head of the Federal Emergency Management Agency says he wants to fix what went wrong with the process of paying flood insurance claims following Superstorm Sandy. Craig Fugate told the first meeting of a congressional task force in Washington …

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Hurricane Sandy Judges Demand Clearing of Settlement Roadblocks http://www.insurancejournal.com/news/east/2015/04/28/365800.htm Tue, 28 Apr 2015 15:57:42 +0000 http://www.insurancejournal.com/?p=365800 Federal officials and flood insurance companies were chastised by a panel of New York judges for imposing delays on settlements with hundreds of Hurricane Sandy victims who alleged their claims were wrongfully denied or underpaid. Officials with the Federal Emergency …

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2 N.J. Towns Get Federal Grants for Buyouts of Flood-Prone Homes http://www.insurancejournal.com/news/east/2015/04/22/365278.htm Wed, 22 Apr 2015 13:34:33 +0000 http://www.insurancejournal.com/?p=365278 Two New Jersey towns will share $7.5 million in federal grants to fund the acquisition and demolition of homes in flood-prone areas. Woodbridge will receive more than $3.8 million to buy and demolish 98 homes and Manville will receive $3.7 …

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N.J. Consumers to Receive 1-Page Summary of Their Homeowners Coverage http://www.insurancejournal.com/news/east/2015/04/16/364755.htm Thu, 16 Apr 2015 21:20:18 +0000 http://www.insurancejournal.com/?p=364755 The New Jersey Department of Banking and Insurance announced that starting in June, New Jersey consumers buying or renewing homeowners, condominium, renters, mobile home, or dwelling fire insurance policies will receive a one-page summary of their policy that clearly explains …

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NYC Officials Cheer $3B Federal Grant for Sandy Aid http://www.insurancejournal.com/news/east/2015/04/02/363267.htm Thu, 02 Apr 2015 18:21:01 +0000 http://www.insurancejournal.com/?p=363267 New York Mayor Bill de Blasio and Sen. Chuck Schumer praised the Federal Emergency Management Agency for authorizing $3 billion in federal funding to repair and protect city housing developments damaged by Superstorm Sandy. It is the largest single block …

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NYC Comptroller Finds $6.8M Misspent for Superstorm Sandy Relief http://www.insurancejournal.com/news/east/2015/04/02/363199.htm Thu, 02 Apr 2015 15:41:37 +0000 http://www.insurancejournal.com/?p=363199 New York misspent $6.8 million after Hurricane Sandy in payments to independent consultants for flawed and incomplete work that delayed help to at least 20,000 people with damaged homes, city Comptroller Scott Stringer said. The Office of Housing Recovery Operations …

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New Jersey Couple Sues Insurer Over Sales Tax Dispute http://www.insurancejournal.com/news/east/2015/03/16/360593.htm Mon, 16 Mar 2015 19:15:23 +0000 http://www.insurancejournal.com/?p=360593 A New Jersey couple sued an insurance company on March 13, claiming it defrauded them out of the sales tax in their Superstorm Sandy claim, and their lawyer said others might also have been affected. Charles and Beverly Mooney sued …

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FEMA Sets Up Review Process for Sandy Flood Claims http://www.insurancejournal.com/news/east/2015/03/12/360310.htm Thu, 12 Mar 2015 16:57:05 +0000 http://www.insurancejournal.com/?p=360310 In light of recent allegations that some insurers in the National Flood Insurance Program (NFIP) may have denied or rejected Superstorm Sandy flood damage claims based on falsified reports, the Federal Emergency Management Agency is now prepared to reopen “every …

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FEMA to Impose More Oversight on Flood Insurers, Engineering Firms http://www.insurancejournal.com/news/east/2015/03/10/359936.htm Tue, 10 Mar 2015 14:12:31 +0000 http://www.insurancejournal.com/?p=359936 Federal disaster relief officials are keeping a closer eye on companies that help it provide flood insurance, following allegations by Hurricane Sandy victims that claims were denied or underpaid based on manipulated engineering reports. A spokesman for the Federal Emergency …

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Senator: FEMA Will Re-examine More Cases, Reform NFIP Claims Process http://www.insurancejournal.com/news/east/2015/03/05/359580.htm Thu, 05 Mar 2015 17:57:59 +0000 http://www.insurancejournal.com/?p=359580 A top Federal Emergency Management Agency (FEMA) official has committed to taking aggressive steps to make sure victims of Superstorm Sandy get “every penny to which they’re entitled” from their national flood insurance claims, said U.S. Senator Robert Menendez (D-NJ). …

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N.J. Congressman Calls for FEMA Chief’s Resignation http://www.insurancejournal.com/news/east/2015/03/03/359129.htm Tue, 03 Mar 2015 17:19:13 +0000 http://www.insurancejournal.com/?p=359129 A New Jersey congressman is asking for the resignation of Federal Emergency Management Agency (FEMA) Administrator W. Craig Fugate and an immediate investigation into FEMA after reports that FEMA was aware of allegedly fraudulent engineering reports that may have been …

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Hurricane Sandy Victims Reach First Set of FEMA Insurance Settlements http://www.insurancejournal.com/news/east/2015/03/03/359053.htm Tue, 03 Mar 2015 14:48:03 +0000 http://www.insurancejournal.com/?p=359053 Federal disaster assistance officials have begun reaching settlements with more than 1,000 Hurricane Sandy victims who allege they were unfairly denied flood insurance claims or paid too little for them. Lawyers for property owners told federal magistrate judges overseeing lawsuits …

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FEMA Exec Tells ’60 Minutes’ He’s Seen Evidence of Fraudulent Reports http://www.insurancejournal.com/news/east/2015/03/02/359006.htm Mon, 02 Mar 2015 17:53:14 +0000 http://www.insurancejournal.com/?p=359006 The head of Federal Emergency Management Agency’s (FEMA) flood insurance program acknowledged he has seen evidence of fraudulent engineering reports that may have been used to deny flood claims by Superstorm Sandy victims, according to CBS’s “60 Minutes” program that …

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NYC Gets $116M Reimbursement for Sandy-Related Fixes http://www.insurancejournal.com/news/east/2015/02/27/358881.htm Fri, 27 Feb 2015 17:59:30 +0000 http://www.insurancejournal.com/?p=358881 The federal government is sending $116 million to New York City to compensate for funds spent in a program that made flooded homes habitable after Superstorm Sandy. Sens. Charles Schumer and Kirsten Gillibrand were joined by New York City Mayor …

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Twice-Wounded Sandy Victims Seek Payout as FEMA Presses Insurers http://www.insurancejournal.com/news/east/2015/02/25/358584.htm Wed, 25 Feb 2015 14:41:06 +0000 http://www.insurancejournal.com/?p=358584 Some homeowners hit by Hurricane Sandy say they’ve been victimized twice: first by the storm and later by insurers. John Clancy says his insurer, an Allstate Corp. unit, paid just $46,000 of the more than $200,000 in repairs needed on …

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