NAMIC: Consumer Reports Bill of Rights shows Misunderstanding of Insurance, Regulation

The National Association of Mutual Insurance Companies released the following statement in response to the Consumer Reports petition regarding its “Homeowners Insurance Bill of Rights”:

“The insurance industry is, and always has been, fair, transparent, and accountable. Insurers operate under rigorous state-based regulations that protect consumers and ensure clarity in coverage. Many of the protections highlighted by Consumer Reports’ “Homeowners Insurance Bill of Rights” are already embedded in law and standard industry practices, such as clear policy explanations, anti-discrimination safeguards, and the right to appeal coverage decisions.

The suggestion that insurers lack fairness or transparency is simply wrong. Rising premiums are not caused by industry practices; they are driven by real-world challenges, including economic pressures, legal system abuse, increasing frequency and severity of catastrophic weather events, and regulatory overreach. These factors are destabilizing markets and increasing costs for everyone and everything.

Insurers remain committed to providing reliable protection, clear communication, and meaningful options for homeowners. Our industry offers diverse products tailored to consumer needs and operates under strict oversight to ensure financial solvency and accountability. State insurance codes and regulations already require extensive transparency and consumer protections that insurers comply with every day.

We welcome constructive dialogue, but one-size-fits-all proposals and simplistic rankings do not reflect the complexity of insurance markets or the diverse risks faced by homeowners. NAMIC will continue to educate consumers and policymakers about the true drivers of rising premiums and advocate for evidence-based solutions that preserve access to coverage and strengthen market stability.”