State Regulators Prepare To Aid WTC Victims On Claims
State insurance regulators in states impacted by terrorist attacks on the United States on Sept. 11 say they are reaching out to consumers to assist them with questions on claims.
At press time, the New York insurance department, according to spokeswoman Joanna Rose, had received over 200 calls, with more expected. Questions cut across product lines and include inquiries about life, property-casualty and workers’ compensation issues.
Rose says insurers are setting up mobile offices in New York City to help with claims. New York issued circular letter #26 on Sept. 12 urging responsible judgement in the handling of policies and claims rising from those policies.
In neighboring New Jersey and Connecticut, calls have been lighter, although Peter Hartt, a spokesman for the New Jersey Department of Banking and Insurance, notes that initially families will deal with shock and grief and later turn to financial matters.
The New Jersey Department has just issued bulletin 01-14, encouraging insurers and producers among other financial services companies to appropriately relax documentation requirements, due dates for payments and late fees, and exercising forbearance on collection and cancellation activities.