New York senators plan to investigate why homeowners are paying more than ever for property insurance, according to the Times Union.
Amid climate-driven disasters and surging premiums, lawmakers say insurers are profiting while nearly 500,000 New Yorkers remain uninsured. Some residents now pay over $1,000 more than they did in 2020.
A public hearing is coming, and a report is expected by year’s end — with a focus on affordability, housing access, and whether New Yorkers are unfairly subsidizing other states.
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Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.