Property-casualty trade associations are seeking to prevent the Delaware Dept. of Insurance from enforcing a regulation curbing the right of carriers to non-renew homeowners insurance based on claims history.
On Monday, the Property Casualty Insurance Association of America and the American Insurance Association jointly filed the complaint for declaratory relief in New Castle County Superior Court, seeking to bar the enforcement of Regulation 703.
"The insurance department is attempting to impose new underwriting and nonrenewal restrictions on homeowners' insurers and to create unfair trade practices by regulation, despite the lack of any specific statute in support of such restrictions," said Eric Goldberg, AIA assistant general counsel.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
