NY Gov. Cuomo hurries Sandy insurance claims, rates insurers

Cuomo?met with top insurance companies about the changes that should cut by more than half the time New Yorkers will have to wait for insurance adjusters.

By Associated Press / November 29, 2012

In this Oct. 31 photo, Joseph Leader, Metropolitan Transportation Authority Vice President and Chief Maintenance Officer, shines a flashlight on standing water inside the South Ferry 1 train station in New York, in the wake of Superstorm Sandy.

Craig Ruttle/AP

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Gov. Andrew?Cuomo?is cutting some bureaucracy to speed the payment of insurance claims to victims of Superstorm Sandy, while also creating an online system to grade insurers.

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Cuomo?met with top insurance companies about the changes that should cut by more than half the time New Yorkers will have to wait for insurance adjusters. The adjusters must inspect homes and businesses before claims can be paid to policyholders.

The governor is allowing some insurance adjusters from outside the state to obtain temporary state licenses to help address New York mountain of claims more quickly.

The state Department of Financial Services will also post online report cards that will rate insurance companies' performance.

Cuomo?announced the initiatives Thursday.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/nb9uoehH3p8/NY-Gov.-Cuomo-hurries-Sandy-insurance-claims-rates-insurers

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