Insurers Praise New Jersey on Post-Sandy Rebuilding Rules

January 28, 2013

New Jersey Gov. Chris Christie’s decision to toughen guidelines for rebuilding following Superstorm Sandy is drawing praise from the insurance industry.

The governor announced Thursday the state was immediately accepting new and more stringent building standards for flood zones. They will force some homeowners to spend tens of thousands of dollars to raise their houses now or face steep insurance hikes in the future.

The Property Casualty Insurer Association issued a statement Friday commending the governor for taking what it calls an “aggressive approach” to ensuring coastal properties can better withstand future disasters.

The trade group says stronger building codes also reduce the risk of injury and death. Sandy is blamed for at least 40 deaths in New Jersey, many of which occurred in the days after the storm hit.

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