Your Friday update on Hurricane Sandy's insurance fallout:
- The governors of New Jersey and Connecticut, as well as the insurance regulator in Maryland, joined New York in declaring that hurricane deductibles should not apply to Sandy damage (CNN Money). This development will have a major effect on fourth quarter earnings (Forbes). However, the battle over whether or not these deductibles apply is likely to go through litigation, as was the case after Hurricanes Katrina and Ike (Thomson Reuters).
- Industry observers expect insurance premiums in the Northeast to rise next year (Connecticut Post).
- next week (CBS).