Flood Insurance Claims Languish In Sandy’s Wake

NEW YORK (February 14, 2013P)--Along the Atlantic Coast, residents have horror stories about how long it’s taking to get insurance checks for flood damage caused by Hurricane Sandy.

Nearly 40 percent are still waiting for a final settlement, and the delays have prompted criticism from officials including New Jersey Gov. Chris Christie, who blames "excessive paperwork" in the National Flood Insurance Program.

But federal data suggest that the speediness, or sluggishness, of the process may be linked to which insurer is handling the claim.

Three and a half months after the storm, some companies servicing flood insurance policies have paid out on nearly all of their claims, while others have yet to hit the halfway mark.

Officials at some of the struggling insurers attribute that to a shortage of adjusters.


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