GREENWICH, Conn. (AP) - The town of Greenwich has reached a $2.4 million settlement with its insurance company to cover damage to municipal buildings and other property by Superstorm Sandy in October, 2012.
The Greenwich Time reports (https://bit.ly/S9Gy4E ) the settlement with insurer AIG also resulted in a 10 percent rise in insurance premiums for the town.
AIG currently charges Greenwich about $1 million a year for property insurance. Officials say the costs have been rising due to several tropical storms in recent years.
The town also received a $1.6 million reimbursement check on Monday from the Federal Emergency Management Agency to cover cleanup costs incurred during Sandy.
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Information from: Greenwich Time, https://www.greenwichtime.com
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