STORY FROM: Superstorm Sandy Insurance Litigation
FEMA Imposes Deadline on Superstorm Sandy Settlement Offers in NFIP Cases
October 21, 2015
NEW YORK — The Federal Emergency Management Agency has announced for the first time that any settlement offer extended before Aug. 31 in National Flood Insurance Policy cases will not be honored, and rescinded, if the plaintiffs fail to submit approved drafting instructions and execute releases by Oct. 30.
In an Oct. 15 order, the magistrate judges overseeing the coordinated docket for Superstorm Sandy actions in the U.S. District Court for the Eastern District of New York explained that in cases where settlement offers were extended after August, FEMA will impose a strict 30-day acceptance window that runs from ...