New York financial regulator Ben Lawsky has Hurricane Sandy insurers in his sights.
The head of the state’s Department of Financial Services, which oversees insurance companies, is probing a trio of firms charged with shabby claims practices in the wake of Super Storm that upended home and business owners.
Narragansett Bay Insurance Co., Tower Insurance Co. and Kingstone Insurance Co. have had the dubious distinction of having more customer complaints than other insurers, according to Lawsky’s office.
According to the DFS’s complaint, the insurers are being investigated for failure to send insurance adjusters to sites and process claims in a “timely manner.”
“These practices and the volume of complaints on outstanding claims are totally unacceptable,” Lawsky said in a statement.
“Narragansett Bay Insurance Co., like all insurance companies in the post-Sandy period, has been communicating with the Department of Financial Services over hurricane claims processes,” the company said in an statement. “NBIC has also responded to all requests for information from the department.”
The three New York-based insurers could be reached for comment.
mark.decambre@nypost.com