Following Maryland, Connecticut, and Rhode Island’s leads, New York and New Jersey are reportedly advising that the hurricane deductible should not apply to claims due to Sandy.
This article published on-line by NBC, indicates that the New York State Department of Financial Services has advised the insurance industry that the hurricane deductible should not be applied to claims for coverage due to Sandy. It has also been reported by the Insurance Journal that New Jersey’s Department of Banking and Insurance has indicated that the hurricane deductible will not apply to claims for coverage due to Sandy in New Jersey. A review of both New York’s and New Jersey’s Insurance Department’s web pages indicates that no formal bulletin has been posted yet, but we will monitor and provide a link when available.