- Posted August 23, 2013 by
Merrick, New York
Hurricane Sandy Victims Poised to Lose All Hope of Receiving Insurance Settlements as the Statute of Limitations Fast Approaches
After 10 months of submitting all claims, submitting 100s of photos, submitting estimates and invoices and receiving nothing but stalling from Fidelity Flood Insurance my public adjuster sent a letter to inform me that there is a Statute of Limitations on bringing legal actions against them. This is true for all flood insurance companies who administer the National Flood Insurance Program to their respective clients. After speaking with several attorneys I have learned that flood insurance companies have been acting in bad faith and have been actively employing tactics to reduce claims payments or invalidate the claims entirely. Some of the various tactics used include entering false data into claims systems, stalling, non-communication, and sending multiple adjustors to homes months after claims have been filed. After re-evaluating what has transpired in my case and in several other cases that I know of, this seems to be what is happening. Simply put, flood insurance companies are running out the Statute of Limitations and soon no one will be able to collect insurance for the damage or destruction of their homes do to the flooding of Hurricane Sandy.
In my case there were indeed incorrect data entries in computer systems that could have threatened our ability to collect insurance, but because we stayed proactive we were able to have this data corrected. It has been ten months since the storm and we still do not have settle agreements from Fidelity Flood Insurance. Since Hurricane Sandy no less than three different adjusters representing Fidelity Flood Insurance have visited my home to “re-verify measurements” or “reassess damage”, and we still have no settlement agreement for the dwelling or its contents which was covered by our policy.
According to one attorney that I spoke with, insurance companies like Fidelity Flood Insurance Company are still reeling from billions of dollars of charge backs that they had received from FEMA as a result of an audit conducted by FEMA under the Obama Administration. FEMA unilaterally decided that flood insurance companies had paid out too much money for claims from Hurricane Katrina and subsequent storms which allegedly gave FEMA the right to charge the insurance companies back for the discrepancy. Now these insurance companies are trying to recoup their loss at the expense of the victims of Hurricane Sandy.
I recall no news reports about FEMA charging back insurance companies for overpayments. But I do recall plenty of news from Congress and the Obama Administration when billions of dollars were released to FEMA and the insurance companies for the victims of Hurricane Sandy. That’s the game of politics. But for me, my family, and thousands of other families whose home were partly or wholly destroyed by Hurricane Sandy this is no game. And come October 29, 2013 for thousands of families the game will be over and FEMA and the insurance companies will have won.
Disclaimer: I am not a journalist and have done research to verify everything in this report.