N.Y. Agents, Buyers Report On Contractors Crisis

Expanding the Empire States "market of last resort" to offer affordable commercial general liability insurance is a short-sighted approach that will do nothing to resolve underlying legal problems, according to New York agency groups.

Their comments came during a public hearing held late last month by New York state insurance superintendent Gregory Serio, who is mulling over a proposal to open up contractors liability insurance to New Yorks residual market to assist New York-based contractor businesses.

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