December 20, 2012
Alleghany Corporation said this week its preliminary estimate of after-tax loss related to Sandy — net of reinsurance and reinstatement premiums — would be approximately $288 million. Alleghany said this estimate reflects a consolidated pre-tax loss estimate, net of reinsurance …
December 20, 2012
Architects, engineers, real estate experts and lawmakers are gathering to discuss how to make New York City buildings better able to withstand storms and global warming. The city’s Building Resiliency Task Force met for the first time Wednesday. It’s due …
December 19, 2012
More than 507,950 individuals have registered for the Federal Emergency Management Agency assistance in wake of Superstorm Sandy, as of Dec. 17. FEMA also said this week that $1.09 billion in disaster aid has been approved so far. Additionally, FEMA …
December 18, 2012
Axis Capital Holdings Ltd. said this week its preliminary estimate of the total net financial impact of Sandy is around $300 million — net of tax and estimated recoveries from reinsurance and including estimated reinstatement premiums. The Pembroke, Bermuda-based provider …
December 18, 2012
New Jersey Department of Banking and Insurance Acting Commissioner Ken Kobylowski is offering advice to consumers in an effort to help explain the Sandy claims process. The regulator said that so far, more than 458,000 New Jersey homeowner’s, auto, business …
December 17, 2012
As winter approaches, construction crews in New York are in a race against the clock to make thousands of houses damaged by Superstorm Sandy habitable again, and the slow pace of progress has led some people to urge officials to …
December 17, 2012
Hoboken, N.J., Mayor Dawn Zimmer told a U.S. Senate committee Hurricane Sandy caused $100 million in damages to the square-mile city across the Hudson River from Manhattan.Zimmer testified before the Senate Committee on Small Business and Entrepreneurship on Dec. 13, …
December 14, 2012
W.R. Berkley Corp. announced it expects catastrophe losses attributable to Superstorm Sandy will be between $40 million and $50 million, before tax. The Greenwich, Conn.-based insurer said Thursday its loss estimate gives consideration to all currently available reinsurance and is …
December 14, 2012
A major push is on to move New York City’s electrical infrastructure to higher ground or upper floors after Superstorm Sandy sent seawater pouring into low-lying substations and skyscraper basements and plunged half of Manhattan into darkness for four days. …
December 13, 2012
New York Gov. Andrew Cuomo announced Wednesday that major banks and mortgage servicers will take action to expedite insurance payments to New York homeowners in the wake of Superstorm Sandy. Currently, insurance claim checks must be endorsed by the banks …