New Jersey Governor Chris Christie is asking the federal government to reimburse the state for 100 percent of emergency costs for at least 90 days after Superstorm Sandy swept ashore on Oct. 29.
In a letter to the Federal Emergency Management Agency dated Nov. 30 and released on Monday, Christie said the economic damage from the storm could be nearly $40 billion.
FEMA generally reimburses states for 75 percent of emergency clean-up and repair costs from natural disasters. The agency can cover more, but state officials must ask for the relief.
Source: Insurance Journal. Read full article. (link)