NYDFS announces winter storm relief

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On December 27, NYDFS announced actions to provide financial relief to New Yorkers in the Western and North Country regions in the aftermath of a historic winter storm. The relief is part of New York’s continuing and comprehensive efforts to address the historic winter storm that caused statewide devastation. According to the announcement, NYDFS requested that state-chartered banking organizations, federally-chartered banks, and credit unions operating in the area provide fee-free access services to nearby customers and non-customers while travel conditions remain dangerous. NYDFS will also issue temporary adjuster permits to qualified out-of-state independent insurance adjusters to expedite insurance claims in light of the winter storm. Expediting permits will increase the number of adjusters available to process claims and help New Yorkers get their claims paid faster. Insurers are encouraged to make any necessary applications on the NYDFS website. NYDFS urged the insurance industry to work towards a fair and speedy resolution of all claims and provide the necessary resources to do so.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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