The Protection Gap In Property Insurance

The Protection Gap In Property Insurance

A conference on
The Protection Gap in Property Insurance
Friday, March 29, 2019
Rutgers Law School, Camden, New Jersey

The protection gap is the difference between losses that are insured and losses that could or should be insured. The Rutgers Center for Risk and Responsibility at Rutgers Law School Conference on The Protection Gap in Property Insurance addressed the protection gap in residential and commercial property losses and related types of losses in the United States.

The property insurance protection gap can have significant impact on individuals and communities; a property owner who does not have flood insurance may lack the resources to rebuild after a hurricane, for example, and if many property owners lack insurance, an entire community may be hard-pressed to recover.

The concept of a protection gap raises several issues:

What is a protection gap?

What protection gaps exist in property insurance and what causes them?

What solutions are there for protection gaps?

For an introduction to the topic, see Jay M. Feinman, The Protection Gap in Homeowners Insurance:

8:30-9:15 am Registration and coffee
9:15-10:45 am What is a Protection Gap?

R.J. Lehmann, R Street Institute

Thomas Santos, American Property Casualty Insurance Association

Adam Scales, Rutgers Law School

Rick Swedloff, Rutgers Law School

Paul Tetrault, Insurance Library Association of Boston

10:45-11:00 am Break


11:00 am – 12:30 pm Why and where do protection gaps occur?

Nicholas Insua, Anderson Kill.  Deductibles, retentions, sublimits, coinsurance

Peter Kochenburger, University of Connecticut School of Law.  Intentional harm exclusions.

Thomas Loucks, Childress Loucks & Plunkett.  Knowledge gap results in protection gap

Verne Pedro, Merlin Law Group.  Insurance coverage gaps caused by mortgage and lender requirements

Sandy Watts, United Policyholders.  Under-valuation in homeowners insurance and disaster losses leading to protection gaps

Michael Saltzman, Goldberg Segalla. Commentator

Daniel Schwarcz, University of Minnesota Law School.  Commentator


12:30-1:30 pm Lunch
1:30-3:00 pm What cures are there for protection gaps?

Jay Feinman, Rutgers Law School. Essential Protections for Policyholders

Laura Foggan, Crowell & Moring.  Blockchain, smart contracts, and parametric insurance

Robert Schindler, Rutgers School of Business-Camden.  Unbundling small-loss protection in homeowners insurance to improve large-loss protection

Harold Weston, Georgia State University.  Champagne insurance tastes on a beer budget

Tom Considine, National Conference of Insurance Legislators. Commentator

Sherilyn Pastor, McCarter & English. Commentator

3:00-3:30 pm Summary discussion