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Cuomo Instates Measures To Expedite Insurance Payments, Ensure Accountability
Posted By Ned Berke On November 30, 2012 @ 1:30 pm In News & Features | 1 Comment
Governor Andrew Cuomo has implemented a series of emergency measures to speed up the processing of Superstorm Sandy insurance claims, as well as increase accountability of the insurance companies.
The new measures, announced yesterday, are intended to expedite the more than 360,000 claims, and allow homeowners to make quicker repairs to their homes for safety and health reasons.
The Daily News reports:
The first of the regulations announced by Cuomo cuts from 15 business days to six the amount of time insurance companies have to get an adjuster to a home after a claim has been filed.
A second emergency regulation allows homeowners facing a “health or safety issue” to initiate repairs without having to wait for an adjuster to certify the claim. The homeowner, however, must still document the claim with pictures of the damage and receipts.
… Cuomo also announced plans to increase the number of public adjusters – who serve as advocates for homeowners – and for the Department of Financial Services to publish on its website a scorecard of insurance companies’ performance, including the time it took for companies to process claims and the number of complaints filed against each of them.
The new NYS Insurers Disaster Response Report Card website can be found here.
The number of public adjusters is being increased by the issuance of temporary licenses to out-of-state public insurance adjusters.
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