Sandy-Inspired NJ Bill May Hold Hidden Trap For Insurers
By Bibeka Shrestha
Law360, New York (January 16, 2013, 9:00 PM EST) -- A New Jersey Assembly committee on Monday approved legislation introduced in the wake of Superstorm Sandy that would force carriers to provide a clear one-page summary of homeowners policies, a measure that could create vulnerabilities for insurers in litigation despite amendments the committee passed to prevent exactly that, attorneys say.
If the bill is passed, New Jersey insurers would have to include a summary of "notable coverages and exclusions" in a consumer information brochure that they're already required to provide. Democratic lawmakers who proposed the law...