NJ Lawmakers Mull Insurance Picture After Sandy

Law360, New York (December 6, 2012, 9:18 PM EST) -- Insurers could stomach New Jersey Gov. Chris Christie expressly barring them from imposing hurricane deductibles on policyholders following Superstorm Sandy, but a similar move after a more severe storm could mean serious financial problems for companies, one industry executive told lawmakers Thursday.

After the storm, Christie signed an executive order prohibiting companies from sticking homeowners with hurricane deductibles, which typically amount to 2 to 5 percent of a property's insured value, rather than a standard deductibles, which can range from $500 to $2,000.

Since the National...
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