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...
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