When dealing with Superstorm Sandy claims, the insurance industry found a key problem was the lack of available flood-insurance adjusters, an industry official testified today at a Senate hearing.
Donald Griffin, vice president, personal lines at the Property Casualty Insurers Association of America (PCI), made that observation at a hearing on problems faced by insureds, insurers and state, federal and local governments in dealing with Sandy.
At the hearing, Craig Fugate, administrator of the National Flood Insurance Program for the Federal Emergency Management Agency, said the NFIP paid out more than $8.1 billion to settle claims arising from Sandy to more than 144,000 NFIP policyholders.
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