Saturday, June 10, 2023

Insurance Changes post-Hurricane Sandy

Insurers can react to the awareness of a new risk in three ways… They can exclude certain coverage, such as flood or earthquake, in specific areas. They can assign higher deductibles, or retentions, so that instead of having to pay for damages over $2,000, the new number becomes $5,000. Also, they can increase premiums.

Via Artnews.


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