Sandy loss News

N.Y. Regulators Identify 10 Banks With Worst Sandy Aid Statistics

New York Gov. Andrew Cuomo and the state’s Department of Financial Services announced the “bottom 10” banks with the worst statistics for paying out insurance claims to Superstorm Sandy victims. Officials said they have notified these banks to speed up …

Superstorm Sandy Battered the Poor Hardest, Studies Show

Superstorm Sandy punished low-income people in New York and New Jersey, especially renters who are now at risk of being unable to find new homes, according to a pair of studies released on Wednesday said. Forty-three percent of the 518,000 …

NYC’s South Street Seaport Still a ‘Ghost Town’ Months After Sandy

The historic cobblestone streets and 19th-century mercantile buildings near the water’s edge in lower Manhattan are eerily deserted, a neighborhood silenced by last year’s Superstorm Sandy. Just blocks from the tall-masted ships that rise above South Street Seaport, store interiors …

Submerged Superstorm Debris Raising Pollution, Boater Safety Concerns

On the surface, things look calm and placid. Just beneath the waterline, however, it’s a different story. Cars and sunken boats. Patio furniture. Pieces of docks. Entire houses. A grandfather clock, deposited in a marsh a mile (1.6 kilometers) from …

N.Y.-N.J. Port Authority: Sandy Caused $2B in Damage

The Port Authority of New York and New Jersey will spend more than $2 billion to repair damage from Superstorm Sandy, but the agency’s executive director said last week that the ultimate financial impact should be minimal. At its monthly …

N.Y. Lawmaker Aims to Clamp Down on Unfair Claim Settlement Practices

A New York state lawmaker recently introduced a piece of legislation that aims to prevent unfair claim settlement practices during a declared state emergency.Assemblywoman Nicole Malliotakis (R,C,I-Brooklyn, Staten Island) announced on Jan. 13 that she has drafted legislation that would …

W.R. Berkley’s 2012 Q4 Profit Up 41%; $40M in Sandy Loss Reported

W.R. Berkley Corp. said its 2012 fourth quarter net profit was $165.49 million, up 41.4 percent compared to the same period in 2011 when it had $117.03 million profit. For the full-year 2012, the Greenwich, Conn.-based commercial lines insurer reported …

Sandy Hit N.J.’s Maritime Industry Hard; Insurer Says 25,000 Boats Damaged

Capt. Harold “Smitty” Smith couldn’t believe it — they were everywhere, hundreds of them.Stacked in piles by the dozen. Leaning against homes and on top of cars. Peeking out from murky waters and marshes up and down the New Jersey …

Some Decry Damaged Cars at New York Runway Site on Long Island

Environmentalists are decrying the placement of 18,000 damaged automobiles on a runway at a defunct defense plant on eastern Long Island, N.Y. The vehicles were destroyed by flooding from Superstorm Sandy. The town supervisor in Riverhead disputes the idea that …

N.J. Gov. Christie: Congress ‘a Little Late’ With Sandy Aid

New Jersey Gov. Chris Christie said the Hurricane Sandy aid package Congress approved Tuesday will help expedite rebuilding after the superstorm, but he poked federal lawmakers for being “a little late to the party.” Christie reminded an overflow audience at …