Homeowners insurance could follow the Healthcare model, says Lawsky

Benjamin Lawsky - homeowners insurance

The New York Department of Financial Services superintendent feels that it would simplify the process. According to the financial regulator in New York state, homeowners insurance needs to become more standardized because its current form is confusing customers regarding what protection they have through their policies. According to Benjamin Lawsky, very few property owners actually fully understand the coverage they have. Lawsky, the Department of Financial Services superintendent in New York, explained that by boosting uniformity, it would help consumers to be able to compare home insurance companies and products.…

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Florida homeowners insurance exchange seeks providers

Florida homeowners insurance, Citizens Property

Homeowners insurance exchange picks up momentum in Florida Florida’s Citizens Property Insurance has been experiencing major renovations in recent years. The state-run organization accounts for the majority of homeowners insurance policies in Florida, but has been strapped with serious financial issues that have left it somewhat crippled. Florida lawmakers have been forcing change upon the organization in an effort to mitigate its financial risk. In some cases, this had led to higher homeowners insurance rates, but Citizens Property Insurance may soon offer affordable coverage for consumers through its new exchange.…

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