Hurricane Sandy And Flood Insurance: Critical Deadline Looms
by Charles A. Yuen on September 11, 2013
Flood insurance policies contain a provision requiring the filing of a sworn proof of loss,
typically within sixty days after the loss. The standard National Flood Insurance Program (“NFIP”) dwelling form, for example, requires that detailed information be provided as a proof of loss within sixty days.
After Sandy hit on October 29, 2012, the Federal Emergency Management Agency (“FEMA”) extended the amount of time within which an insured must submit a proof of loss for FEMAbacked insurance policies to one year from the date of the loss. Generally speaking, for New Jersey and New York Sandy victims looking for insurance claims, this deadline should be considered to be no later than October 28, 2013. At this point, policyholders should consider this deadline firm and inflexible.
Many policyholders, of course, have already submitted copious amounts of information to their carriers. Most of these less formal submissions have not met the requirements of a formal sworn proof of loss. To date, FEMA, by relaxing other submission requirements, has allowed FEMAbacked carriers to consider and pay claims based upon informal submissions.
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