Insurers reaped outsized profits from NY homeowners' policies, group says

Despite catastrophic losses from superstorm Sandy and Tropical Storm Irene, property insurance companies have reaped profits in New York at rates more than double the national average in recent years, according to a study scheduled to be released Monday.

Between 2004 and 2013, insurers posted an average annual "return on net worth" -- a key measure of profitability -- of roughly 15 percent...
Updated June 14, 2015 9:57 PM
By JOE RYAN  joe.ryan@newsday.com                                                                  

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