Nov 5 (Reuters) – 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.
New York Governor Andrew Cuomo directed the state’s
Department of Financial Services to issue the order so that
residents will be able to discard debris before a second storm
hits the region later this week.
The state also imposed a 30-day moratorium on canceling or
terminating insurance policies for homes and small businesses,
even if the policy-holders do not pay premiums.
“We are acting to preserve homeowners’ insurance rights when
much is beyond their control,” Cuomo said in a statement. “They
have suffered enough and should not be hurt further by red tape
or technicalities.”
Among insurers that may be affected by the disaster rules
are Allstate Corp, Chubb Corp, Travelers Cos Inc
and American International Group Inc.
