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.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.