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N.J. Bill Would Make Insurers Summarize Homeowners’ Policies

A bill proposed in the wake of Sandy moves a step closer to passage.

By Mark E. Ruquet | Updated on January 28, 2013

A bill proposed in the wake of Superstorm Sandy that would have insurers produce a single-page summary of a homeowners’ policy in New Jersey moved a step closer to passage after an Assembly committee approved language the industry can live with.

On Jan. 14, the Financial Institutions and Insurance Committee sent to the Assembly floor a bill (A-3642) that would require insurers writing homeowners’ policies to provide a consumer-information brochure “written in a simple, clear, understandable, and easily readable way” explaining the hurricane deductible and providing information about flood insurance.

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