Senator Fuschillo Announces New Program to Help Homeowners Seeking Release of Superstorm Sandy Insurance Settlement Money

Bank Representatives Will Be Available March 4^th through March 9^th to Meet One-on-One With Homeowners to Help Expedite Release of Insurance Settlement Funds 

            Senator Charles J. Fuschillo, Jr. (R-Merrick) today announced a new program in which representatives from five of New York’s largest banks will be available to provide one-on-one assistance to homeowners seeking the release of Superstorm Sandy insurance settlement funds.  Senator Fuschillo called for the program to be set up to help homeowners access their insurance settlement funds more quickly. 

            The program, which was arranged and coordinated by the New York State Department of Financial Services, is designed to help homeowners complete steps needed to have their banks endorse their insurance settlement checks, which are often written jointly to homeowners and their banks or servicers.  

Representatives from Chase, WellsFargo, Bank of America, CitiMortgage, and Ocwen Loan Services will be available at:

·         Cedar Creek Park (Merrick Road, Seaford)

March 4^th through 8^th between 9 am and 6 pm

March 9^th between 9 am and 3 pm

·         Copiague Library (50 Deauville Boulevard, Copiague)

March 4^th through 8^th between 9 am and 6 pm

March 9^th between 9 am and 3 pm

“Residents who are trying to rebuild their homes and move on with their lives need access to their insurance settlement funds as quickly as possible. This program will give residents an easy and convenient way to get answers from their bank’s representatives, get help in completing their paperwork, and get their settlement checks released more quickly. I am pleased to have worked with the Department of Financial Services in bringing this program to Long Island,” said Senator Fuschillo.

Additionally, representatives from the New York State Department of Financial Services will be available to meet individually with homeowners at these sites and provide additional assistance with Superstorm Sandy related insurance issues.

The Department of Financial Services advises residents to bring copies of any relevant documents, records, or correspondence. According to the Department, banks may require proof that repairs have been made before endorsing checks.

The Department of Financial Services also encourages customers of banks or mortgage servicers other than the institutions participating in the program to visit the sites to get help in answering their questions. Homeowners with general insurance-related questions are also invited to attend.

Homeowners who cannot attend but are in need of assistance can contact the Department of Financial Services’ Insurance Assistance Center at 1-800-339-1759.