November 29, 2012 / 10:21 PM / in 5 years

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

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