Search
 

Greater Choice Key To Homeowners Market

What the U.S. homeowners insurance market urgently needs is greater policy form standardization, with insurers taking their cues from independent rating organizations rather than their own underwriters.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

What the U.S. homeowners insurance market urgently needs is greater policy form standardization, with insurers taking their cues from independent rating organizations rather than their own underwriters–at least that’s what University of Minnesota Associate Law Professor Daniel Schwarcz told the National Association of Insurance Commissioners at their recent meeting in Seattle, as reported by National Underwriter on Aug. 19 (see http://bit.ly/dBGYJi).

Professor Schwarcz’s PowerPoint presentation to the NAIC–titled “Deficient Consumer Protection in the Regulation of Insurance Policy Forms: Evidence from Homeowners Markets”–asserted that homeowners insurance policyholders in 2010 have fewer financial protections listed in their policies, protecting them against a diminishing number of perils, than they did five- or 10 years ago.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.