Menendez Exposes Problems in Sandy Flood Insurance Claims Process; FEMA Pledges to Fix
Federal Information & News Dispatch, Inc. |
"We have, in my view, a process and a standard that is stacked against policyholders,"
Fugate announced that he has asked the
During testimony,
* The system does not create meaningful penalties for insurance servicing companies that lowball homeowners, while imposing strong, tangible penalties for overpayments
* A double-standard exists in the appeals process in which homeowners are forced to adhere to strict arbitrary deadlines imposed by
* The failure to establish a homeowner flood insurance advocate that was authorized in the Menendez "Homeowner Flood Insurance Affordability Act" has left homeowners in the dark, with no entity to help them through the claim or appeal process at a time when they are under extreme personal distress
*
"We have the ultimate hypocrisy and double-standard here," the Senator told Fugate. "You don't have to live under the deadline and there's no consequence to the agency for not meeting the deadline, but there is a consequence for the policyholder for not meeting the deadline. That's when people think poorly of their government."
Prior to the hearing,
Also testifying today were:
Read this original document at: http://www.menendez.senate.gov/newsroom/press/menendez-exposes-problems-in-sandy-flood-insurance-claims-process-fema-pledges-to-fix
Copyright: | (c) 2010 Federal Information & News Dispatch, Inc. |
Wordcount: | 486 |
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News