Hurricane Sandy

Capital Thinking Updates - May 16, 2013

by Amy Davenport, Tanya DeRivi, Alexis Early, Eugenia Edwards, Jared Fleisher, Norma Krayem, Karen Kudelko, Matthew Kulkin, Jessica Monahan, Amy Budner Smith, Stacy Swanson, Joseph Urso, more +Sarah Vilms, Kristin Wells, Pam Welsh | Patton Boggs LLP on 5/21/2013

In This Issue: - General Legislative - Agriculture and Food - Budget and Appropriations - Cybersecurity - Defense - Education - Energy - Environment - Financial Services - Health...more

The Legal Legacy of Superstorm Sandy Looting

by Hoffman DiMuzio on 5/10/2013

“Kick ‘em while they’re down” may have been the motto of some New Jersey residents who were involved in looting during and after Superstorm Sandy. Reports vary from numerous isolated incidents of break-ins, trespassing, and...more

New Jersey Gets Federal Approval for $1.8 Billion in Hurricane Sandy Aid

by Holly Horsley, William C. Rhodes | Ballard Spahr LLP on 5/8/2013

The Obama administration recently approved more than $1.8 billion in aid to help New Jersey residents and businesses recover from Hurricane Sandy. The Community Development Block Grant (CDBG) funds for New Jersey, part of a...more

New Jersey Takes Emergency Action To Speed Rebuilding after Hurricane Sandy

by Barbara Casey, Ronald Varnum, Harry Weiss | Ballard Spahr LLP on 5/7/2013

The New Jersey Department of Environmental Protection (NJDEP) took emergency action to reduce approval backlogs and to make it easier for those seeking to rebuild in wake of Hurricane Sandy to obtain regulatory approvals by...more

Policyholders Beware: Insurers Relying on Anti-Concurrent Causation Clauses to Defeat Coverage in the Aftermath of Superstorm...

by Joseph Jean, Steven Morris | Lowenstein Sandler LLP on 5/7/2013

To the dismay of most New York business owners who suffered property damage from Superstorm Sandy, insurers are taking the position that only flood losses occurred and businesses that did not pay an additional premium for...more

New York Demands Credit Score Changes For Hurricane Sandy-Impacted Consumers

by BuckleySandler LLP on 5/6/2013

On April 25, New York Governor Andrew Cuomo announced that the New York Department of Financial Services (DFS) sent a letter to several consumer credit bureaus, demanding that the firms (i) ensure that credit scores are not...more

Christie Administration Issues Emergency Rule to Expedite Recovery and Rebuilding

by Larry Jacobs | Wilentz, Goldman & Spitzer P.A. on 4/19/2013

Emergency Rule Revisions Cut Red Tape and Streamline State Permits for Vital Rebuilding Projects. - On April 19, 2013, DEP issued emergency rules intended to expedite the process of repairing and rebuilding in the wake...more

Infrastructure Alert - April 17, 2013

by Cozen O'Connor on 4/17/2013

Last week, President Obama released his FY2014 budget, outlining several proposals to fund new infrastructure programs. The budget proposes $40 billion for “Fix it First” projects to repair existing infrastructure, as well...more

Hurricane Sandy's Civil Authority Issues Bear Watching by Reinsurers

by Seth Jackson | Zelle Hofmann Voelbel & Mason LLP on 4/16/2013

As both insurers and reinsurers are well aware by now, the destructive path left by Hurricane Sandy in many Northeast states such as New York, Connecticut, and New Jersey was devastating. To date, reports have estimated...more

Superstorm Sandy: Multiple Occurrences Could Help Maximize Coverage

by Joseph Jean, Matthew Stockwell | Lowenstein Sandler LLP on 4/15/2013

Superstorm Sandy devastated the east coast last October, causing more than $70 billion in damage to New York, New Jersey and Connecticut. Thousands of businesses suffered extensive property damage to their buildings, contents...more

2013 Mutual Funds and Investment Management Conference

by Ropes & Gray LLP on 4/10/2013

In this presentation: - General Counsel’s Address - Keynote Address - General Session — It’s a Small World After All: How Non-U.S. Regulators Affect Your Business - General Session — Closer to...more

Superstorm Sandy Is Causing New York and New Jersey Legislators to Reconsider Passing Legislation that Would Establish a Private...

by Melissa Brill, Kellyn Muller | Cozen O'Connor on 4/5/2013

Policyholders in New York and New Jersey presently have no private right of action against insurance companies for alleged violations of each state’s respective statutory claim handling guidelines – New York’s Unfair Claim...more

Policyholders Beware: Insurers Relying on Anti-Concurrent Causation Clauses to Defeat Coverage in the Aftermath of Superstorm

by Joseph Jean, Steven Morris | Lowenstein Sandler LLP on 4/2/2013

To the dismay of most New York business owners who suffered property damage from Superstorm Sandy, insurers are taking the position that only flood losses occurred and businesses that did not pay an additional premium for...more

New Jersey Establishes a Mediation Program for Open Superstorm Sandy Insurance Claims, Notice of Which Must Be Provided to...

by Richard Bennett | Cozen O'Connor on 3/29/2013

New Jersey has now joined New York in instituting a voluntary mediation program for insured victims of Superstorm Sandy with “open and unresolved first-party insurance claims.” The program became operative with the issuance...more

2013 Form 941 And Instructions Include New Line For Additional Medicare Tax

by Rena Pirsos | XpertHR - Partnered with LexisNexis on 3/26/2013

The IRS has released the 2013 Form 941, Employer's Quarterly Federal Tax Return, along with the instructions. Other than a few editorial changes, the only major change to the form is a new line 5d, Taxable wages and tips...more

Green Building Update -- March 19, 2013

by Bryan C. Jackson, Andrew Ouvrier | Allen Matkins Leck Gamble Mallory & Natsis... on 3/21/2013

In This Issue: Green Building Focus - White House nominees for EPA, DOE; AltBuild Expo coming to Santa Monica; Massachusetts data center is clean energy innovator; New green post-Sandy housing development in Queens;...more

NJ’s Bad Faith Legislation Stemming From Superstorm Sandy Needs Emergency Relief

by Ryan Chapoteau, Jeffrey Winn | Sedgwick LLP on 3/20/2013

In the wake of Superstorm Sandy, the New Jersey Legislature is considering the passage of A370, which will enable policyholders to sue insurers for bad faith based on a single alleged violation of the New Jersey Insurance...more

New York Investigates Post-Sandy Mortgage Servicing Practices

by BuckleySandler LLP on 3/18/2013

On March 7, New York Governor Andrew Cuomo announced that the New York Department of Financial Services (DFS) is investigating certain bank and servicer practices related to Hurricane Sandy relief. Specifically, the DFS is...more

Superstorm Sandy and Divorce

by David Wildstein | Wilentz, Goldman & Spitzer P.A. on 3/14/2013

Hurricane Sandy has left a wake of untold emotional and financial damage to individuals, families, and businesses. Due to the trauma associated with Sandy, marriages that were fragile and tottering on failure may no longer be...more

Servicers Granted Broad Discretion In Effort To Accelerate Release Of Sandy Insurance Funds

by BuckleySandler LLP on 3/8/2013

On February 26, New York Governor Andrew Cuomo announced that Fannie Mae, through Lender Letter LL-2013-03, and Freddie Mac, through Bulletin 2013-4, implemented new rules to accelerate the release of insurance proceeds to...more

Changes to New Jersey Unfair Claims Settlement Practices Act Would Rewrite Bad Faith Law to Deter Insurer Misconduct

by Lynda A. Bennett, Andrew S. Zimmerman | Lowenstein Sandler LLP on 3/8/2013

Ostensibly responding to Superstorm Sandy, the New Jersey legislature is considering a broad change to the law addressing bad faith and unfair conduct by insurers. If the bill becomes law, it will represent a significant and...more

Don’t Miss The Boat On Rescission Claims

by Kristin Suga Heres | Zelle Hofmann Voelbel & Mason LLP on 3/6/2013

Originally published in Insurance Law360 on March 5, 2013. As victims of Superstorm Sandy and their insurers continue to comb through their losses and their insurance policies, it is likely that the underwriting...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 1, 2013

by BuckleySandler LLP on 3/4/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - CRIMINAL...more

New York Promulgates Emergency Mediation Regulation for Storm Sandy Claimants

by Frederic M. Garsson, Edward Roslak | Saul Ewing LLP on 3/4/2013

New York licensed insurers are now required to participate in nonbinding mediations with certain Storm Sandy claimants who have disputed or unresolved claims. Insurers are required to send notices of the mediation option at...more

Superstorm Sandy: You May Still Be Entitled to Coverage, Even if Your Business Did Not Have Flood Insurance

by Joseph Jean, Steven Morris | Lowenstein Sandler LLP on 3/1/2013

Superstorm Sandy devastated the East Coast last October, causing more than $70 billion in damage to New York, New Jersey and Connecticut. Thousands of businesses suffered extensive property damage to their buildings, contents...more

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