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Governor Christie has now signed into law  a bill that  requires insurers to supply a one-page summary of homeowner's policies, explaining “notable coverages and exclusions under the policy” that are “written in a simple, clear, understandable, and easily readable way.” According to the bill's sponsors, one of many revelations resulting from Sandy was that homeowners did not understand what their policies did and did not cover. The law aims to address that issue by way of the summary, which is supposed to present the required information in a simple, understandable format. When the bill was first proposed, insurers voiced concern that the summary might create exposure beyond their contractual liabilities under the policy. Lawmakers responded by adding an amendment to make clear that the one-page summary consititutes guidance only - - it neither supersedes nor modifies the policy itself. As the amendment states: “The summary shall not be considered a replacement for the terms of the policy of insurance, shall not have the effect of altering the coverage afforded by the policy, and shall not confer new or additional rights beyond those expressly provided for in the policy. The summary shall expressly state that the summary is only provided as guidance to the homeowner in understanding the terms of the policy of insurance.” The New Jersey Department of Banking and Insurance will decide exactly when insurers will have to start providing the summary.