according to City and State.Gov. Andrew Cuomo announced that the Department of Financial Services would be releasing a series of new regulations to help expedite Sandy-related insurance claims,
“The problem is one of scale and quantity,” Cuomo said at a press
briefing on Thursday, according to City and State. “You have about
360,000 people that have insurance claims right now, so you can imagine
the overwhelming task of getting 360,000 claims adjudicated and
administered in a relatively short period of time.”
With the new regulations, insurance companies will now be required to
send an insurance adjuster to a home within six days – much quicker
than the current requirement of arriving within 15 days. Cuomo also
wants to allow for an increased number of public adjusters who will be
available to advocate for the homeowner.
According to City and State, the Department of Financial Services
will also post a public report card on its web site to hold insurance
companies accountable for their performance.
One interesting new regulation is that homeowners will be allowed to
do their own construction work without an adjuster’s approval if there
is a health and safety issue that needs to be addressed.
decide to take repairs into their own hands will still be required to
keep records and receipts and take photographs of the damage to get
The regulations would go into affect immediately, and Cuomo has said
that if adjusters are still slow to address homeowners they will face a
$1,000 penalty for each day that they are late, according to City and
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