Legislation providing for federal oversight of homeowners insurance contracts has been quietly introduced by Sen. Trent Lott, R-Miss., who remains embroiled with State Farm over his own Hurricane Katrina damage claim. The bill mandates additional language on the front page of policies, backed by Federal Trade Commission review.
The Homeowners Insurance Noncoverage Disclosure Act was condemned by the Property Casualty Insurers Association of America, which said the measure would “do nothing to enhance the 'plain language' requirements already on the books in almost every state.”
The bill is likely to be discussed at a hearing on insurance issues scheduled for April 11 by the Senate Commerce Committee, which includes Sen. Lott.
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