hurricane deductible News

N.Y. Gov. Cuomo: New Yorkers Won’t Have to Pay Hurricane Deductible for Sandy

New York Governor Andrew Cuomo announced Wednesday that New York homeowners will not have to pay potentially large hurricane deductibles on insurance claims stemming from damage caused by Sandy. New York joins other northeastern states — New Jersey, Maryland and …

No Hurricane Deductibles for Sandy Claims in New Jersey, Maryland

Hurricane deductibles will not be applicable for Sandy-related claims in New Jersey, the state where the superstorm made landfall late Monday. New Jersey Department of Banking and Insurance Acting Commissioner Ken Kobylowski communicated to the insurance industry Tuesday night that …

Hurricane Deductibles Will Not Apply for Sandy-Related Claims in Conn.

The Connecticut insurance department issued a notice to the insurance industry Tuesday, alerting the industry that companies may not impose a hurricane deductible on Connecticut claims related to superstorm Sandy. “Please be advised based on information received from the National …

Connecticut Had 58,002 Claims for Irene, With $161M Paid Out So Far

Connecticut Insurance Commissioner Thomas Leonardi told a legislative committee that Connecticut saw 58,002 claims for Hurricane Irene. Of those claims, 84.8 percent have been closed (88 percent for homeowners’ claims) and $161 million have been paid out to policyholders as …

State Farm: Its Conn. Deductible Decision Grounded in Fairness

State Farm Insurance says U.S. Senator Richard Blumenthal’s request that the company drop Irene-related hurricane deductibles in Connecticut would actually be unfair to policyholders and introduce all sorts of uncertainty. State Farm — the largest U.S. insurer of homes and …

Connecticut Regulators to Revise Hurricane Deductible Rules

Connecticut insurance regulators are working on revising hurricane deductible rules in the wake of tropical storm Irene. The insurance department spokesperson told Insurance Journal that the new rules under consideration focus exclusively on wind speeds measured within the state. Whether …

Sen. Blumenthal Asks State Farm to Drop Hurricane Deductible for Irene

U.S. Senator Richard Blumenthal (D-Conn.) called on State Farm Insurance to drop its hurricane deductible for Connecticut residences whose homes were damaged by Tropical Storm Irene. Blumenthal was joined at his Hartford press conference on Tuesday, Oct. 11, by Elizabeth …