The protection and security that an insurance policy provides must be guaranteed by a fair and efficient claims process. The Essential Protections require insurance companies to provide information to insureds about the claims process and to implement reasonable standards for processing, investigating, evaluating, and paying claims. Insurance companies must provide policyholders with essential information… continue reading
All homeowners need basic protection from their insurance policies and many buy additional protection. The Essential Protections require that policies contain minimum guarantees of protection and that companies offer some kinds of additional protection. Policyholders also need to be protected against unfair cancellation or nonrenewal of their policies, and the Essential Protections set standards there,… continue reading
Homeowners need readily available, easily understandable information about the insurance policies available to them and the insurance companies that offer those policies in order to shop effectively for insurance. Insurance companies mostly provide only one kind of information—price. Statutes, regulations, and administrative action are needed to provide consumers with more and better information. Giving consumers… continue reading
Every state regulates homeowners insurance and insurance companies, but states differ dramatically in how much and what kind of regulation they provide for the benefit of policyholders. The Essential Protections provide a roadmap in four categories that every state can follow in improving homeowners insurance. Read a summary of the Essential Protections Read the full… continue reading
