The New York Department of Financial Services has appointed the American Arbitration Association (“AAA”) in New York as the exclusive “designated organization” to handle Storm Sandy mediations pursuant to the Mediation Amendment.
The AAA contact information to be inserted into notice letters sent to insureds pursuant to the Mediation Amendment is as follows:
American Arbitration…
On February 25, 2013, the New York Department of Financial Services promulgated a significant new Hurricane Sandy-related regulation that will impact nearly all insurers doing business in the State of New York. Specifically, the Department adopted the Fifteenth Amendment (entitled “Mediation) to New York’s Regulation 64 (“Mediation Amendment”).
The Fifteenth Amendment was adopted as an…
