Home insurers are pushing for big rate increases and weakened consumer protections—and increasingly getting what they ask for.
State regulators across the U.S. appear to be buckling to industry demands for fear that insurers will pack up and exit their regions, leaving residents with few coverage options.
In the last 12 months alone, one state has decided its regulator can no longer veto rate requests and another has made it easier for insurers to reduce storm coverage. A third has agreed to expand the types of costs companies can take into account when setting rates.
Source: Home Insurance Premiums Are Surging—and States Are Allowing It – WSJ
