The New York Department of Financial Services says Rhode Island-based Narragansett Bay Insurance Company will pay a $327,400 penalty due to adjuster-inspection delays on Superstorm Sandy claims.
The DFS says its investigation uncovered that Narragansett "failed in numerous instances to perform adjuster inspections of damage related to Superstorm Sandy in the time frames required by law and regulation."
The DFS conducted its investigation in 2013 after policyholder complaints in which people complained of being unable to reach adjusters and said adjusters failed to show up to scheduled appointments.
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