Homeowners insurance in Colorado to experience massive reforms

Colorado homeowners insurance industry wildfires

The tremendously destructive wildfires in the state have caused underwriters to come together to overhaul the system. Over the last three years, Colorado has experienced devastating wildfires that have ignited an overhaul of the state’s homeowners insurance system, in the hopes that consumers might begin seeing some positive changes over the next few several weeks. The situation in the states has undergone a considerable change that has brought coverage to the spotlight. According to Carole Walker, the Rocky Mountain Insurance Information Association executive director, “The cycle of natural disaster has…

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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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Homeowners insurance housecleaning under way at Citizens in Florida

homeowners insurance policy multiple claims

The CEO of the company needs to cut back on the insurer’s spending even further. The CEO of the Citizens homeowners insurance company in Florida implemented some strict travel expense policies in place in order to help cut spending, but is having trouble adhering to those regulations. Barry Gilway has been submitting expenses that are far above the regulations he put into place. It has now been revealed that Gilway, the chief executive officer of the homeowners insurance company, has stayed in a hotel that costs almost twice as much…

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