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. …
XL announced its preliminary net loss estimate related to Storm Sandy of $350 million, pretax and net of reinsurance and reinstatement premiums. Approximately 60 percent of the Company’s estimated loss relates to the reinsurance segment. Within the reinsurance segment, the …
An agreement to be announced Wednesday will resolve an unexpected snag that has in some cases added weeks of delays in advance insurance payments to property owners hit by Superstorm Sandy, depressing recovery efforts in neighborhoods. Eleven major lending companies …
A New Jersey judge is blocking an upcoming post-superstorm “reconstruction summit.” State Attorney General Jeffrey Chiesa alleges William Loiry has hatched a scheme to profit from those suffering from Sandy. In issuing the temporary restraining order, the judge told the …
Some New Jersey families displaced by Superstorm Sandy could be living in federal government-supplied mobile homes as early as next week. Forty units – all one- and two-bedroom – are being temporarily kept at Six Flags Great Adventure in Ocean …
Long Island, N.Y., officials say more than 2,000 homes were destroyed or left uninhabitable by Superstorm Sandy. In Nassau county, the number will likely reach 1,400. In Suffolk the toll is 675 homes. Officials say that number may grow. According …
Superstorm Sandy wreaked havoc on parts of the U.S. East Coast in late October after tearing through the Caribbean. In the weeks since, the storm’s scope has come into sharper focus. Deaths Sandy killed at least 125 people in the …
The New York Road Runners — a non-profit community running group and the organizer of the annual New York City Marathon — could get millions of dollars in insurance proceeds thanks to its event cancellation coverage. The New York Road …
Despite uncertainties regarding final loss totals from Hurricane Sandy, Standard & Poor’s Ratings Services expects only a limited ratings impact on insurers and reinsurers exposed to such losses, according to a report, “Hurricane Sandy Brings Unexpected Risks But Limited Credit …
Repair costs for Long Island, N.Y., municipalities hit by Superstorm Sandy could top $520 million. Newsday reports that the bill reflects the most recent estimates for the island’s 13 towns, two cities and 10 of its hardest-hit villages. Among the …