“It is completely unfair for insurance companies to punish homeowners for making routine claims against their homeowners insurance,” .
If that is not the most idiotic statement I have heard so far this year. I guess this state senator thinks insurance companies print money in their basements too!.
Commissioner Denn’s regulation is another example of over-regulation, although I also believe insurers sometimes ask for this kind of trouble when, as reported in tis article, they don’t separate simple policyholder inquiries from bona-fide claims when underwriting a policy. As for underwriting based on claim experience, that is an essential part of the process and to deprive insurers from the ability to non-renew poor risks flies in the face of free enterprise. No insurer should be forced to stay on a policy that has had a poor claim record.
The court agreed with the insurers, noting that the Senate bill even included language pointing out that “Delaware currently has no laws protecting homeowners from having their homeowners insurance terminated at the end of its annual term simply because they made a weather-related claim with their insurance carrier
Let me see … I enter a CONTRACT with an entity to cover my home for these items A-Z, under these terms and conditions, for the period of … “Oh we’ll just let the fat guys in the black robes decide” ???
Kinda makes it tough to X-Date Homewoners policies now dont it – hehehe.
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“It is completely unfair for insurance companies to punish homeowners for making routine claims against their homeowners insurance,” .
If that is not the most idiotic statement I have heard so far this year. I guess this state senator thinks insurance companies print money in their basements too!.
Hey, they are politicians! What did you expect….common sense?
Routine homeowners claims occur in my state quite regularly – on average once every 12 years.
Commissioner Denn’s regulation is another example of over-regulation, although I also believe insurers sometimes ask for this kind of trouble when, as reported in tis article, they don’t separate simple policyholder inquiries from bona-fide claims when underwriting a policy. As for underwriting based on claim experience, that is an essential part of the process and to deprive insurers from the ability to non-renew poor risks flies in the face of free enterprise. No insurer should be forced to stay on a policy that has had a poor claim record.
The court agreed with the insurers, noting that the Senate bill even included language pointing out that “Delaware currently has no laws protecting homeowners from having their homeowners insurance terminated at the end of its annual term simply because they made a weather-related claim with their insurance carrier
Let me see … I enter a CONTRACT with an entity to cover my home for these items A-Z, under these terms and conditions, for the period of … “Oh we’ll just let the fat guys in the black robes decide” ???
Kinda makes it tough to X-Date Homewoners policies now dont it – hehehe.
Steve
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