Cuomo Moves to Speed Insurance Claim Payments Following Sandy

After meeting with top insurance company executives last week, Governor Andrew Cuomo announced a series of measures to speed up the payment of claims for New Yorkers affected by Hurricane Sandy. The governor also announced a launching of a new online report card system to hold insurance companies accountable.

At the governor’s direction, the Department of Financial Services issued a new regulation that will cut by more than half the amount of time insurers have to send adjusters to homes and businesses to inspect claims, thereby helping consumers receive their payments sooner.

Also, the DFS will publish report cards assessing insurance companies’ performance in responding to the disaster and paying claims.

The report cards will be published on the new website nyinsure.ny.gov.