The legal standard of care requiring that insureds read and  understand their insurance policy is absurd. The typical standard for written communications with the average consumer is to write at an 8 th -grade level or lower . Insurance policies, however, are legal contracts. To read and understand an insurance policy requires more than an 8 th -grade level of reading ability. It is unreasonable to place the burden on the average consumer that they must read (i.e., have a dut

Historically, the P&C market rode a seven-year wave, give or take. The market would be soft for around seven years, hard for around two to three years, and repeat. During the soft market phase, the carriers who had plenty of surplus and were unwilling to compete on price wrote the accounts that came their way and waited for the hard market. When the hard market arrived, they had the surplus, the capacity, to write everything at their price. They would grow significantly and p

A California State Court ruled that the California FAIR Plan’s homeowners form is unlawful and fails to meet minimum coverage...