Cleaning up the damage caused by Superstorm Sandy will cost New Jersey about $29.4 billion, Gov. Chris Christie announced Friday night. The preliminary estimate includes damage the storm caused to personal property, businesses, transportation, utilities and infrastructure, as well as …
A resident of Manhattan’s financial district has filed a storm-related lawsuit against his condominium board and its management company. Jonathan Stark filed the suit in Manhattan state Supreme Court on behalf of himself and other condo owners in the 37-story …
“Reduced for Quick Sale!” reads Mike Montalbano’s Craigslist ad for the three-bedroom home he needs to sell before he can relocate for a new job. The drywall is new, as are the appliances. The only problem? Location. Montalbano’s home is …
Kemper Corporation announced its estimate of catastrophe losses from Superstorm Sandy. The company expects fourth quarter 2012 earnings will include approximately $45 million in pre-tax catastrophe losses related to the storm. The company does not anticipate any recoveries under its …
When Superstorm Sandy battered the East Coast with high winds and a massive storm surge, 111 homes in the Queens, New York neighborhood of Breezy Point were destroyed by a fast-spreading fire. First responders, including firefighters, owned a significant number …
New Jersey Transit’s struggle to recover from Superstorm Sandy is being compounded by a pre-storm decision to park much of its equipment in two rail yards that forecasters predicted would flood, a move that resulted in damage to one-third of …
As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance attorneys from international law firm Edwards Wildman Palmer LLP, …
They fell by the thousands, like soldiers in some vast battle of giants, dropping to the earth in submission to a greater force. The winds of Superstorm Sandy took out more trees in the neighborhoods, parks and forests of New …
According to the U.S. Chamber of Commerce, Superstorm Sandy affected 16 states causing unprecedented damage to the East Coast. As a result of the storm, businesses have pledged more than $123 million to support recovery efforts, with two thirds of …
Interest among businesses in purchasing flood insurance coverage from the National Flood Insurance Program (NFIP) is increasing in the wake of Superstorm Sandy’s heavy rain, record storm surge, and resulting widespread flood damage, according to insurance broker Marsh. Although most …