In an effort to get Super Storm Sandy claims handled faster, Governor Cuomo issued an executive order making it easier for out-of-state public insurance adjusters to work in New York and help policyholders with their Sandy claims. The goal of this executive order is to increase the number of qualified adjusters available to New Yorkers. Prior to this order, New York’s requirements for temporary public adjusting licenses were more extensive and time consuming than most other states.
Under the new order, experienced public adjusters who have a valid insurance licenses that have not been revoked within the last 10 years and those who have not plead guilty to a any crime in any U.S. jurisdiction nor have been found liable for fraud or unethical conduct in the last ten years can apply for a temporary license with the Department of Financial Services.
The Governor recognizes that by allowing qualified public insurance adjusters to help New Yorkers, the claims will be better presented and paid in a timely fashion.
For New Yorkers who are considering hiring a public adjuster, check out my blog series on public insurance adjusters. Particularly, check out:
- Did You Know You Can Hire a Public Adjuster to Help?
- Insurance Company Changes Payment Philosophy: Adjuster Changes License
- What’s in a title? Why Policyholders Need to Know the Difference Between an Independent Adjuster and Public Adjuster, Part I and Part II
- By Shorting Customers Insurers make Massive Profits
- The Value of Hiring a Public Adjuster
Governor Cuomo also issued a regulation that will shorten the timeframe for insurance companies to inspect a loss. As of November 30th, Sandy claims are to be inspected within six days of the call. The former regulation allowed for fifteen days. Further, so long as the claim is not for flood damages, New Yorkers can now complete emergency repairs relating to heating, hot water, and electrical systems without waiting on their insurance companies to give approval. The reason cited for this change was public safety for New Yorkers in December.
The Department of Insurance created a new website to publish "Report Cards" of New York’s insurance companies. The new site, geared at holding insurance companies accountable for Sandy relief, is www.NYInsure.ny.gov. The site was launched by DFS Superintendent Benjamin Lawsky and will grade New York insurance companies on the number of claims, the payment of claims, the average length of time for an adjuster to inspect the damage, the number of claims closed with and without payment, and the number of complaints compared to the number of claims.
To learn more, check out the executive order here.
