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

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.
Comments (4)
  • Let's see what the courts rule!
    1 Nov 2012, 08:26 AM Reply Like
  • All the smart insurance companies refer to "named storm" in their policies rather than a hurricane. Therefore they are probably off the hook.

     

    They also provide no provision for floods.
    1 Nov 2012, 08:56 AM Reply Like
  • But according to the media frenzy, it was "the storm of the century" and "stormageddon". Now all of a sudden it gets downgraded.

     

    The only thing that made the storm even notable was the path it took - it was nowhere near anything like a "superstorm" that the media was freaking out about. I have been in 2 or 3 real superstorms, and Sandy was not even close.
    1 Nov 2012, 10:53 AM Reply Like
  • Chris Christie is a free-market, property rights protecting conservative exactly as much as he is an extreme dieter.

     

    Let the market do its job and stop with the socialism.

     

    Sandy was a HURRICANE and those property owners have to pay up!
    1 Nov 2012, 07:30 PM Reply Like
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