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NJ Flood Claims Reopened

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IMG_0345Meeting yesterday  with the Professional Insurance Agents of NJ, #PIANJNYConf  the Commissioner of Banking and Insurance outlined the reopening of flood claims from Hurricane Sandy.

Commissioner Kobylowski said that private insurance companies servicing the National Flood Insurance Program (NFIP) have had relatively few complaints.  However, there are some components of the Sandy losses that have led to a general reopening of claims.

There were approximately 75,000 flood claims in NJ from Sandy.

Of those claims approximately 7,500 involved engineering reports.

Of the those, approximately 3,500 reports were prepared by engineering companies which have been accused of mistakes or misstatements in other states.

The NFIP is offering to reopen claims as necessary to be certain that proper procedures will be followed.

Mailings to the 3,500 claimants above will go out first, followed by mailings to the remainder of the 7,500 claimants whose losses required engineering reports.  And the third wave of letters will go to the remainder of the 75,000 claimants.

This is all dependent on the Federal program, NFIP, which is controlled by the Federal Emergency Management Agency (FEMA).  The NJ Department of Banking and Insurance (DOBI) will monitor the actions and results from this project and provide consumer information where warranted.

Written by gbwinsurance

June 9, 2015 at 9:06 am

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