BROOKLYN, N.Y.–A lack of statewide building standards is a primary reason insurers are abandoning New York State coastal risks, a consultant told an industry meeting here today.
M. Rita Hollada made her remarks during a continuing education course presented by the Professional Insurance Agents of New York's annual Metropolitan Regional Awareness Program.
She told her audience that agents in New York are experiencing the same restrictions to their coastal markets that agents in her home state of Delaware began to experience more than 10 years ago and establishing proper building standards would improve the risk climate in Brooklyn and elsewhere.
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