News

Goldman Urges Supreme Court to End Mortgage Class-Action

Goldman Sachs Group Inc has urged the U.S. Supreme Court to throw out a mortgage securities class-action lawsuit that it said could cost Wall Street tens of billions of dollars.

NY Governor Warns Insurers Note to Charge Hurricane Deductibles

The governors of New York, New Jersey and other U.S. states said on Wednesday that insurance companies should not charge hurricane deductibles that cost tens of thousands of dollars to state homeowners who file claims for damage from Sandy because it was labeled a "post-tropical storm" by the time it hit land.

Homeowners Dodge Sandy Deductibles, Face Other Costs

When the National Hurricane Center declared Sandy a "post-tropical storm" just before it made landfall, a lot of homeowners across New Jersey, New York, Connecticut and Maryland may have saved a lot of money. The governors of these states have told insurance companies that because the storm was not classified as a hurricane, the insurers can't enforce costly hurricane deductibles on storm-related claims.
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