A year after Hurricane Sandy devastated the East Coast, in what is known as the second costliest hurricane in United States history, home and property owners are still struggling to obtain the financial coverage they believe they were promised.
Thousands of homes stand gutted and bare while the Federal Emergency Management Agency (FEMA) and private insurance companies continue to delay assessing the damage and financial need of residents now homeless. Families displaced by the storm have turned to hotel rooms, temporary apartments, and crowding in with relatives but, unfortunately, it does not seem that they will be returning to their own homes any time soon.
According to The Daily News, private insurers have denied nearly one in five of the 404,000 claims submitted by New Yorkers for Hurricane Sandy damage. For those fortunate enough to have received financial aid from FEMA, about 66,000 New York property owners and renters, FEMA officials are now attempting to take back some of the money they had distributed in what is known as “recoupment.”
Sandy victims point to slow-moving insurance companies and a tangled web of bureaucracy for the inordinate delay, saying that insurers will do everything they can to avoid paying up.
Insurance Bad Faith
The delayed inspections and payments on valid claims are not uncommon among insurance providers, as bad faith practices are often used by insurance companies to protect their own profit. Examples of insurance bad faith include:
- Failing to investigate claims in a timely manner,
- Altering a policy without consulting with a client,
- Unreasonably delayed payments, and
- Intentionally misinterpreting policy terms.
The New York insurance claim denial attorneys at Wingate, Russotti, Shapiro & Halperin, LLP can help you and your family obtain the maximum settlement amount you deserve after your home has been destroyed. We are experienced at confronting insurance companies that act in bad faith to deny a legitimate property damage claim. To learn about your rights and your chances for a denial reversal, please call us at (212) 986-7353.