NEWSDAY OP-ED: GOV. HOCHUL MUST ADDRESS ROOT CAUSES OF RISING INSURANCE COSTS TO HELP FAMILIES & SMALL BUSINESSES

Citizens for Affordable Rates (CAR) Highlights Growing Calls for Action to Lower Premiums and Combat Rampant Fraud in New York

ALBANY – In today’s edition of Newsday, Phil Andrews, president of the Long Island African American Chamber of Commerce, urges Governor Kathy Hochul to take real action on New York’s affordability crisis by addressing the state’s soaring insurance costs. While Gov. Hochul emphasized affordability in her State of the State address – mentioning the word “affordable” 140 times – her efforts must tackle the root causes of the cost of living crisis. Highlights from the op-ed are below:

ON THE PROBLEM:
“For downstate communities, the affordability crisis is especially severe. While insurance costs are a burden across the state, they hit hardest in the metropolitan area, where residents face some of the highest premiums in the country.”

ON THE IMPACT:
New Yorkers pay some of the highest car insurance rates in the nation, with Long Island drivers facing average annual premiums of $4,900—more than double the statewide average and nearly 40% higher than the national average. Fraudulent claims and excessive litigation drive up costs, with staged crashes and other scams accounting for up to 10% of insurance payouts statewide.

ON THE SOLUTIONS:
Andrews calls for stronger penalties on fraudulent legal claims, streamlined administrative processes, and policies that promote transparency and fairness in insurance pricing. These reforms can be achieved through a mix of legislative changes, executive actions, and regulatory decisions.

The full op-ed is available online here.

More information from Citizens for Affordable Rates is available at: www.citizensforaffordablerates.com