Property-casualty trade associations are seeking to prevent the Delaware Dept. of Insurance from enforcing a regulation curbing the right of carriers to non-renew homeowners insurance based on claims history.
On Monday, the Property Casualty Insurance Association of America and the American Insurance Association jointly filed the complaint for declaratory relief in New Castle County Superior Court, seeking to bar the enforcement of Regulation 703.
"The insurance department is attempting to impose new underwriting and nonrenewal restrictions on homeowners' insurers and to create unfair trade practices by regulation, despite the lack of any specific statute in support of such restrictions," said Eric Goldberg, AIA assistant general counsel.
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