Albany, NY - 'Some Insurers Wrongly Trying to Deny Payments for Irene Damage'
Albany, NY - New York’s insurance chief says insurers are wrong when some tell policy holders that damage from Tropical Storm Irene isn’t covered under flood insurance.
Financial Services Superintendent Benjamin Lawsky says no insurer should even consider denying payments under a flood insurance policy.
Lawsky says residents also shouldn’t have to face a deductible for a hurricane because Irene was termed a tropical storm by the time it hit New York.
The national Insurance Information Institute notes, however, that standard homeowners’ and renters’ insurance doesn’t cover flood damage.
Federal Emergency Management Administration officials say many people hit by flooding in the Hudson, Schoharie and Mohawk valleys and in the Adirondacks don’t have flood insurance.
More of today's headlines“Postiville, IA - Gabay Menahem, a former businessman and property owner here, has received $450,000 to settle discrimination and business interference lawsuits filed in...” Iowa - City of Postville Pays $450,000 to Jewish Businessman In Discrimination Suit “New York - Assemblyman Dov Hikind (D-Brooklyn) has intervened to prevent a polling site at St. Agatha’s Church. Residents living in the 73rd and 74th election...” New York - Polling Site For Jews At A Church Prompts Hikind To Intervene