New York’s Metropolitan Transportation Authority is submitting claims to insurers and the federal government to recover $65 million in losses it suffered during Hurricane Irene last year.
Certain lines were hit by intense washouts and mudslides during the hurricane.
MTA officials say the Federal Emergency Management Agency and insurers are both expected to reimburse the transportation agency.
Insurers are reviewing the claims and already made a $5 million advance payment.
The MTA prepared for the storm by relocating subway and bus fleets away from areas prone to flooding.
Hurricane Irene hit the eastern U.S. one year ago. It caused more than $1.3 billion worth of damage in New York state.
Topics Profit Loss Claims New York Windstorm
Was this article valuable?
Here are more articles you may enjoy.
‘Structural Shift’ Occurring in California Surplus Lines 
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
