The State of New Jersey
NJ Department of Banking and Insurance
search  
Home > Department Press Releases/Newsletters/Reports

News Release

New Jersey Department of
Banking and Insurance


Commissioner Ken Kobylowski

For Immediate Release:
January 10, 2014

For Further Information:
Ed Rogan or Marshall McKnight (609) 292-5064


Christie Administration Announces Sandy Mediation Program Recovers
More than $3.4 Million for Sandy-Impacted Residents

TRENTON – The Christie Administration announced today that the state’s mediation program to assist residents with unresolved insurance claims related to Superstorm Sandy has recovered $3.42 million for consumers since the program was launched in May. 

“We’re pleased that the program so far has helped hundreds of New Jersey residents resolve their insurance claims and bring them some needed closure and funds to repair and rebuild their properties,  but there is still more work to do,” said Department of Banking and Insurance Commissioner Ken Kobylowski. “We will keep the mediation program up and running for as long as New Jersey residents need it.”

Launched in May, the mediation program allows property owners to submit homeowner’s, automobile and commercial property claims to a mediator who will review the case and assist in settlement discussions, free of charge.  Disputed non-flood Sandy-related claims greater than $1,000 that do not include a reasonable suspicion of fraud and are based on policies in force at the time Sandy made landfall are eligible for mediation. Insurance carriers pay for the cost of the mediator. Policyholders who wish to bring legal representation to the mediation session may hire an attorney at their own expense.

To date, the Department has received 764 requests for mediation and 521 mediations have been completed. Of the 521 mediations completed, 347 , or 67 percent, have been settled with 57 percent of them in Ocean and Monmouth Counties. The program has handled cases in all of the State’s 21 counties. The average recovery for consumers is $16,015.

The mediation process is another tool policyholders can use to resolve their claims. Resolving insurance claims quickly is important because New Jersey homeowners and businesses must first settle their insurance claims before they qualify for many federal grant programs.

New Jersey residents with unresolved non-flood insurance claims related to Superstorm Sandy can have their cases mediated through the American Arbitration Association (AAA). Application forms are available online at www.adr.org, by phone at 855-366-9774 or via email at njsandymediation@adr.org.

###
 
OPRA
OPRA is a state law that was enacted to give the public greater access to government records maintained by public agencies in New Jersey.
line
Adobe Acrobat
You will need to download the latest version of Adobe Acrobat Reader in order to correctly view and print PDF (Portable Document Format) files from this web site.
state seal
Copyright © 2011, State of New Jersey
New Jersey Department of Banking and Insurance