Del. to Require New Disclosures by Home Insurers

Delaware Insurance Commissioner Matthew Denn planned to reveal a new regulation today that will require insurance companies
to provide prominent annual disclosures to each homeowner’s policyholder of where there might be gaps in the homeowner’s coverage, and whether the homeowner can purchase additional insurance to fill those gaps.

Denn’s new regulation will also require homeowners insurance carriers to disclose to their customers what types of claims by the customer could result in the customer’s policy being cancelled at the end of its term.

“Many Delawareans have been surprised in recent years to find that their homeowners insurance did not cover certain basic types of claims that they assumed were included, such as flood damage, reconstruction of their home if it was destroyed by fire, and full reimbursement of items stolen from the home,” Denn said in his press advisory.

He planned a 1 p.m. press conference to unveil the new regulation.

Latest Comments

• January 30, 2005 at 8:47 am

  Kathryn says:

  Does New York have these types of discosures? Has it become more difficult for homeowner's to get insurance on the east end of Long Island?
• January 21, 2005 at 6:58 am

  Sandy Dunn says:

  Every time you turn around we hear more and more about how Government, be it Local, State or Federal, want's to legislate the public from themselves as in this case. It seems ... read more
• January 21, 2005 at 8:32 am

  Chris says:

  Wow, another page of paper to go out. Will this only cause carriers to leave the state since the premiums they collect from De. will not justify this new hoop they must jump t... read more