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NY Pols Eye Fixes As Sandy Flood Leads To Claim Denials
February 26, 2013
All Content © 2003-2013, Portfolio Media, Inc.
Read the full article (PDF) quoting Insurance Group Chair William N. Erickson.
Law360, New York (February 26, 2013, 8:46 PM ET) -- Private insurers that blame flood waters to deny coverage to New York homeowners and business owners wiped out by Superstorm Sandy came under scrutiny Tuesday as state lawmakers heard from frustrated policyholders, but experts say legislative efforts to block such denials could be be tricky.
Comments made by top elected officials, including New York State Assembly Speaker Sheldon Silver, D-Manhattan, suggested a legislative or regulatory effort could get under way to limit so-called anti-concurrent-cause language, which limits coverage when damage is caused by both covered and uncovered causes.
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