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HOMEOWNERS INSURANCE WIDELY AVAILABLE IN AMERICA'S URBAN CORE, STUDY FINDS

 CHICAGO, June 22 /PRNewswire/ -- More than 98 percent of homeowners surveyed in six major American cities have home insurance, a new study has found.
 In an effort to assess the availability of homeowners insurance in the nation's urban core, the American Insurance Association (AIA) commissioned an independent testing firm to survey homeowners' experiences obtaining various forms of property insurance. Conducted by R.L. Associates, the survey focused on low and moderate income neighborhoods in Atlanta, Chicago, Cleveland, Los Angeles, Philadelphia and the borough of Brooklyn within New York.
 Titled "Availability and Use of Homeowners Insurance in the Urban Core of Major American Cities," the survey's key findings include:
 -- 93 percent of homeowners in the six cities have comprehensive coverage, while 5 percent carry more basic home insurance policies;
 -- 87 percent of urban homeowners said it was very or somewhat easy to find homeowners insurance, with 93 percent saying it was convenient to contact an insurance agent or company;
 -- 99 percent of African-American homeowners carried homeowners insurance, compared with 98 percent of white homeowners;
 -- Very few respondents -- only 3 percent -- said they were aware of anyone in their neighborhood who had experienced difficulty in obtaining homeowners insurance.
 AIA conducted the survey in response to concerns that have been raised about homeowners insurance in urban America. The results of the study conclusively demonstrate that property insurance is widely available in each of the cities surveyed and that such coverage is "very easy" or "somewhat easy" to obtain for the vast majority of policyholders.
 During the past five years, very few respondents have been turned down for any type of homeowners coverage and or have had their coverage canceled or not renewed for any reason, the survey found.
 "AIA believes that redlining is an illegal, reprehensible and inexcusable practice that should not be tolerated," AIA Assistant General Counsel Lynn Schubert said upon presenting the study at the National Association of Insurance Commissioners' summer national meeting. "Consequently, despite the survey's positive findings, AIA believes that the insurance industry should work with public policymakers to assure that property insurance continues to be widely available in our nation's urban core."
 Copies of the "Availability and Use of Homeowners Insurance in the Urban Core of Major American Cities" survey can be obtained by contacting AIA at 202-828-7100.
 The American Insurance Association is a trade organization representing more than 250 major insurance companies providing all lines of property-casualty insurance. Headquartered in Washington, the association has representatives in every state.
 HOMEOWNERS INSURANCE BY CITY
 Chicago L.A. Atlanta Brooklyn Cleveland Phila.
 Comprehensive
 Homeowners
 Policy 93 pct. 88 pct. 95 pct. 94 pct. 96 pct. 89 pct.
 Fire Damage
 Policy 4 9 4 4 2 8
 Separate
 Policy for
 Theft or
 Vandalism 1 (A) 1 1 1 (A)
 Separate
 Liability
 Policy 2 1 1 (A) 1 (A)
 No Home-
 owners
 Coverage (A) 3 1 2 2 2
 Total with
 Basic or
 Compre-
 hensive
 Coverage 99 pct. 97 pct. 99 pct. 98 pct. 98 pct. 98 pct.
 (A) Less than 0.5 percent.
 -0- 6/22/93
 /CONTACT: Georgiana Smith, public affairs, American Insurance Association, 202-828-7100/


CO: American Insurance Association ST: Illinois IN: INS SU:

DC-KD -- DC009 -- 4605 06/22/93 13:34 EDT
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Date:Jun 22, 1993
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