New NY insurance rules needed due to disagreements: official
(Reuters) - New York State implemented emergency regulations requiring insurance companies to adjust claims related to superstorm Sandy more quickly, after the industry was unable to agree on a voluntary program, an official with the administration of Gov. Andrew Cuomo said on Thursday.
The official, speaking on condition of anonymity, said a number of large insurers would not give the state a firm commitment to adjust claims as fast as regulators wanted.
(Reporting By Ben Berkowitz)