(Reuters) - New York Governor Andrew Cuomo on Thursday imposed emergency regulations on insurers to speed the processing of claims from hundreds of thousands of state residents whose properties were damaged or destroyed when Superstorm Sandy struck a month ago.
Among the measures Cuomo unveiled was a requirement reducing the time limit for insurance company claims adjusters to respond to a claim to six days from 15 days.
He also said the state's insurance regulator would begin posting to the agency's website report cards on the performance of insurers, with the aim of making the companies more accountable for their response to customers needing assistance following the storm, which struck the Northeast on Oct. 29.
The storm knocked out power to millions and damaged or destroyed at least 305,000 houses in New York, according to state estimates.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
