Burned By Sandy, Insurers Grow Stricter On Coverage

Law360, New York (March 13, 2013, 4:38 PM EDT) -- Underwriters have started restricting coverage for property damage and business interruption since Superstorm Sandy, experts said at a Wednesday federal insurance panel meeting, where the Federal Insurance Office also announced that its long-overdue reports on U.S. insurance regulation will be out by July.

The committee that advises the fairly new FIO focused its meeting heavily on the government flood insurance program's progress on Sandy claims, as well as the ripples that the October storm has sent through the insurance world.

Duncan Ellis, the head of Marsh...
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