New York–New York is considering a requirement that insurers clarify language in homeowners property coverage policies, the state's top insurance regulator said here today.
New York Insurance Superintendent Howard Mills made his comments at a policyholder advice conference held by the law firm of Anderson Kill & Olick.
Mr. Mills revealed the department's activity in response to an audience question concerning conflict over exclusionary policy language that has led to legal action by Mississippi Attorney General Jim Hood. Mr. Hood has sued insurers to compel them to honor hurricane damage claims that carriers contend are not covered because of flood exclusion language.
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