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News Release

New Jersey Department of
Banking and Insurance

Commissioner Ken Kobylowski

For Immediate Release:
January 3, 2013

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

Christie Administration Provides Advice to Consumers to Work with Their Lenders to Gain Access to Insurance Claims Funds

Continuing the Christie Administration’s actions to protect and inform consumers who suffered property losses from Hurricane Sandy, Commissioner Ken Kobylowski today offered information and advice to homeowners who have received insurance claim checks issued jointly to them and their mortgage companies to help them work with their lender and quickly gain access to the money they need to restore their homes and property.

“Many consumers are now receiving larger insurance claims checks and are starting the rebuilding process with these proceeds. The mortgage holder is generally listed as the loss payee on homeowners’ insurance policies, so the overwhelming number of insurance claims checks are going to be issued jointly to the consumer and their mortgage company,” Commissioner Kobylowski said.

“Consumers who are going through the insurance claims process for the first time may have questions, such as to how do they get their bank to endorse the check, when will they receive the funds, and will there be delays in receiving their money from their insurance companies? We have tried to provide some answers to those questions.”

The Department has posted “Frequently Asked Questions for Insurance Proceeds Checks” at: to answer questions such as these and others and to provide consumers contact numbers for federally-chartered (national) banks. Consumers can contact their banks directly if they have a banking-related question relative to the insurance proceeds checks.

Consumers who need information on insurance or banking issues or assistance with their claims should contact the Department at 1-800-446-7467 or go online at

OPRA is a state law that was enacted to give the public greater access to government records maintained by public agencies in New Jersey.
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