New Jersey's U.S. Senators are urging the federal government to settle with superstorm Sandy victims who were challenging what they perceived as paltry flood insurance payouts, but not to enter into agreements that protect those who potentially broke the law.

Senators Robert Menendez and Cory Booker, both Democrats, released the text of a letter today that was addressed to Craig Fugate, head of the Federal Emergency Management Agency. FEMA runs the National Flood Insurance Program.

There 1,140 Sandy victims in New Jersey currently suing their insurers and FEMA for underpayment of claims caused by the October 29, 2012 storm.

"Reaching a fair and just resolution would help to finally end the nightmare these victims are living as well as save significant taxpayer dollars in attorney fees," their letter states, later adding that the settlement should be expanded to include policyholders who did not sue.

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