Insurers will be on the hook for higher payouts to customers after the governors of NY, NJ, and...

|By:, SA News Editor

Insurers will be on the hook for higher payouts to customers after the governors of NY, NJ, and CT (so far) rule they must treat Sandy as a tropical storm, rather than a hurricane. Insurance policies in coastal areas typically include a provision for a far higher deductible when damage occurs from a hurricane.