Update Jan. 4, 2013. Breaking news: House and Senate approve Sandy aid for NFIP. Click here.
A trade group representing insurance agents and brokers in New York, New Jersey and Connecticut has written an open letter to insurance carriers asking them to send advance claim checks to victims of Storm Sandy.
The presidents of the Professional Insurance Agents (PIA) groups from each state signed off on the letter, which says that direct writers have been quick to pay claims, and asking other carriers to quickly send out advance claim checks.
“Without these advances, repairs can’t be made; homes can’t be restored; families can’t begin to rebuild their lives,” the letter stated.
The letter went on to say that “frustration is mounting,” and that while changes to commission levels on certain types of policies sold by agents prior to Sandy were “painful,” prolonging payment to customers could have a negative effect on agents.
“They endanger the very survival of your agents – your best distribution option,” the letter stated.
The letter was signed by Timothy G. Russell, Anthony F. Bavaro and Michael J. Skeele, presidents of the Connecticut, New Jersey and New York associations, respectively.
Read/download a copy of the letter here: PIA Letter to Carriers
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- Congress passes bill to help pay Sandy flood claims, fund NFIP | Insurance & Financial Advisor I IFAwebnews.com
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