Md. Seeks New Hurricane Deductible Rules Post-Sandy

Law360, New York (January 2, 2013, 2:17 PM EST) -- In the wake of Hurricane Sandy, Maryland's insurance regulator proposed a rule Friday to specify when carriers could apply hurricane deductibles, which are higher than standard deductibles.

The recent proposal from the Maryland Insurance Administration calls for carriers to apply hurricane deductibles only for residential property damage that happens when a hurricane warning from the National Weather Service is in effect or within 24 hours after the last hurricane warning is nixed.

Hurricane deductibles typically range from 1 percent to 5 percent of an insured property's...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.