The New York Department of Financial Services (DFS) says the response times of three insurers after Superstorm Sandy warrant an investigation.
Gov. Andrew M. Cuomo says the state DFS is investigating the alleged failure of Narragansett Bay Insurance Co., Kingstone Insurance Co., and Tower Insurance Co. to send adjusters and process claims in a timely manner after the Oct. 29, 2012 storm struck the Northeast.
The three carriers' alleged tardiness "and the volume of complaints on outstanding claims are totally unacceptable," DFS Superintentdent Benjamin M. Lawsky says in a statement. "We know that the storm produced extraordinary circumstances, but we still expect insurers to live up to the highest standards."
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.
