NJ Assembly Approves Post-Sandy Insurance Policy Bill

Law360, New York (January 28, 2013, 10:40 PM EST) -- The New Jersey Assembly advanced a bill Monday aimed at reducing confusion among homeowners who experienced losses in Superstorm Sandy by requiring insurance companies to provide customers with simplified, one-page summaries of their policies.

Under current law, insurers in New Jersey are required to accompany all policies with a consumer information brochure that explains the company’s hurricane deductible program and includes flood insurance information in “simple, clear, understandable and easily readable” terms. The bill would add a requirement for a one-page summary, designed not to replace...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.