Pennsylvania joined three other East Coast states tellinginsurers they cannot impose hurricane deductibles for lossessuffered from Superstorm Sandy.
|Gov. Tom Corbett issued a statement Thursday telling residentsthat they will not pay hurricane deductibles on their insuranceclaims on damage stemming from Sandy.
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“Insurance deductibles could have added significant costs toPennsylvanians already struggling to clean up and rebuild afterHurricane Sandy,” Corbett said. “Insurance companies have deployedcatastrophe teams to Pennsylvania, and they have been advised thathurricane deductibles should not be applied to any homeowners'insurance claims.”
|Insurance Commissioner Michael Consedine says the state is “verypleased” with carriers' response throughout Pennsylvania and addedthe department is “actively monitoring the insurance industry toensure they are fulfilling their commitments to theirpolicyholders.”
|On Wednesday, New York, Connecticut and New Jersey issuedsimilar orders to insurers, reasoning that Sandy was no longer atropical storm when it struck the Mid-Atlantic states leavingdevastation along the coast.
|This article was originally posted at PropertyCasualty360.com, asister site of Credit Union Times.
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