A New York and New Jersey Lawyer Who Represents Policyholders and Beneficiaries in Life Insurance Denial Cases

A New Jersey bill that would require insurance companies to provide consumers with a single-page summary of their homeowner policies has moved out of committee to be put to a vote before the full Assembly, reports the Property Casualty 360 blog.

The reason for the bill is the confusion that property owners experienced in the wake of Hurricane Sandy concerning what events are and are not covered under their homeowner policies, with many specifically unaware that flooding was excluded.

The bill was apparently sent out of the Financial Institutions and Insurance Committee after language was inserted that insurers “can live with,” says the article.

Indeed, the homeowners who I speak to on a regular basis are confused, and even bewildered, about what exactly is and is not covered under their policies. Most expected that, if damage occurred, it would be covered, in light of the fact that they made substantial premium payments for months, if not years. But that is often not the case.

Homeowner policies are dense, written in legalese, and most people simply do not have the time or inclination to pore over every page. Hopefully, this legislation, if passed, will clear up much of the confusion that has hitherto existed. Unfortunately, however, a good deal of that confusion has been addressed by Hurricane Sandy and the resulting denial of claims.

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