Insurance companies and trade groups continueto appeal to state regulators over the decision made by ninejurisdictions to prevent insurers from imposing hurricanedeductibles for losses suffered from Superstorm Sandy.
New York, Rhode Island, New Jersey, Delaware, Massachusetts,Connecticut, Pennsylvania, Maryland and the District of Columbiadeclared the hurricane deductibles invalid after the NationalWeather Service (NWS) reclassified Sandy as an “extra-tropicalcyclone” before the storm made landfall in the Garden State on Oct.29.
But representatives of the trade groups and carriers are tellingstate regulators that they based their rates on the contractlanguage they negotiated with those states and that they areconcerned about Sandy's potential to threaten their solvency.
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