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Assembly approves requirement for one‑page insurance summaries for auto and home policies
Summary
The Assembly passed a bill requiring insurers to provide a simplified summary of auto and homeowners coverage on request; supporters said it improves consumer understanding, opponents warned of duplication or information overload.
The Assembly passed Assembly No. 536-A (rules report 4-80), which requires insurers to provide a brief summary document of auto and homeowners coverage to policyholders on request.
Sponsor Miss Pollan said the measure was drafted after conversations with a Department of Financial Services deputy commissioner who found declarations pages lengthy and hard to read. "At a glance, it's very hard for someone to...…
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