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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