Insurer to Pay $327,400 in Fines for Late Investigations of Super Storm Sandy Claims

Insurer to Pay $327,400 in Fines for Late Investigations of Super Storm Sandy Claims

On May 22, 2014 Naragansett Bay Insurance Company (“Naragansett”) signed a Consent Order with the New York State Department of Financial Services (DFS) agreeing to pay a civil penalty of $327,400 and to enact substantial capacity upgrades for its failure to timely perform adjuster inspections on numerous properties damaged by Super Storm Sandy.