Nearly 95% of N.Y. Sandy Claims Closed, Insurers’ Response Report Card Shows

April 17, 2013

New York State regulators’ latest Sandy response report card shows that almost 95 percent of Superstorm Sandy-related personal and business insurance claims in the state have now been closed.

The report card, which is frequently updated, compiles data from 24 major insurers who make up the most of the insurance market in New York areas that were affected by Sandy. The latest data, released this week, shows that 375,774 claims have been closed (303,826 with payments and 71,948 without payments) as of April 12. That represents 94.62 percent of 397,160 overall Sandy claims filed in New York with the 24 major insurers.

The data includes consumer policies, such as homeowners’ and auto insurance, as well as business policies such as business interruption insurance — but National Flood Insurance Program claims are not included.

The latest data also shows there have been 3,388 complaints, representing 0.85 percent of the overall 397,160 claims in the New York report card.

• Among the largest insurers, Allstate Insurance Group closed 78,125 claims (66,780 with payments and 11,345 without payments), representing 94.6 percent of its 82,576 Sandy claims in New York. It received 692 complaints, or 0.84 percent of its overall claims number. (As of April 12, Allstate had made payments on 69,210 claims, only 66,780 of which were closed.)

• State Farm closed 52,536 claims (42,602 with payments and 9,934 without payments), which represent 92.3 percent of its 56,920 Sandy claims in New York. It received 230 complaints, or 0.40 percent of its overall claims number. (State Farm had made payments on 46,293 claims, only 42,602 of which were closed.)

• Travelers Group closed 40,625 claims (32,663 with payments and 7,962 without payments), representing 96.0 percent of its 42,331 Sandy claims in New York. It had 526 complaints, or 1.24 percent of its overall claims figure.

The full report card can be found at New York State’s Sandy disaster insurance assistance website.

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