A director of the Independent Insurance Agents Brokers of New York told lawmakers and regulators this week that New Yorkers are dealing with unnecessary hassles when they make flood insurance claims.
William Oliver told the panel that the difficulty of the claims process discourages people from buying flood insurance. Oliver is president and CEO of The Partners, an insurance agency in Vestal, and a member of the IIABNY board of directors.
The remarks came at a roundtable discussion sponsored by New York State Senate Insurance Committee Chair James Seward (R-Milford) and Sen. John Bonacic (R-Mount Hope). The purpose of the Albany session was to gather information regarding the administration of the National Flood Insurance Program (NFIP) in New York State and to explore ways to ensure adequate flood insurance coverage for homeowners.
New York Superintendent of Financial Services Benjamin Lawsky and Congressman Paul Tonko (D-Amsterdam) also attended.
Thousands of New York State residents suffered flood damage as a result of Tropical Storms Irene and Lee, which struck areas of the state in August and September of 2011. Many homeowners did not have flood insurance coverage to help them recover from their losses. Some of those who did have coverage found the claims process
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Source: http://www.rocketnews.com/2012/03/n-y-agents-tell-senate-panel-of-flood-insurance-claims-hassles/
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