New Ranking of State Insurance Protections Draws on Prof. Schwarcz’s Research

The Rutgers Center for Risk and Responsibility released a report entitled “State Rankings of Homeowners Insurance Protections: Buying Insurance,” which draws extensively on Professor Schwarcz’s research on state insurance regulation. The report highlights that most states do not make different homeowners insurance policies broadly available to consumers or market intermediaries. It also emphasizes that states generally do not disseminate any data about how reliably different carriers pay their claims. These deficiencies in transparency, according to Prof. Schwarcz, result in consumers relying on carriers’ vague and unverifiable claims about the quality of their coverage, impeding effective competition in insurance markets.