Personal Lines

Insurers that cover New York residents whose homes suffered damage from the superstorm Sandy are required to accept homeowners' documentation of losses rather than send inspectors to survey the damage, a state regulator said on Monday.

Insurers that cover New York residents whose homes suffered damage from the superstorm Sandy are required to accept homeowners' documentation of losses rather than send inspectors to survey the damage, a state regulator said on Monday.

The latest monthly MarketScout report shows that commercial property and casualty insurance rates increased at a slower rate, rising 4 percent in October, but Sandy could have a dramatic impact on rates in the future, the CEO of the Dallas-based electronic-insurance exchange says.

Insurance companies and their trade groups are continuing to talk to state regulators about the decision of several jurisdictions to tell insurers they cannot impose hurricane deductibles for losses suffered from Superstorm Sandy.

Insurance companies and their trade groups are continuing to talk to state regulators about the decision of several jurisdictions to tell insurers they cannot impose hurricane deductibles for losses suffered from Superstorm Sandy.

State Farm says it has received more than 81,000 claims from Superstorm Sandy and has acquired a plane in an attempt to get policyholders to report more.