New York's chief insurance regulator last week stopped carriers from nonrenewing home insurance customers in coastal areas who are unwilling to buy their company's auto or life products as well.
At a press conference, Insurance Superintendent Eric R. Dinallo reiterated that it is unlawful for an insurance company to refuse renewal if the decision is based on whether or not the policyholder has other business with the company.
The superintendent's move drew immediate praise from agent groups, who said it would help their customers.
Recommended For You
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
© 2025 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.
