A trade group survey of independent insurance agents finds New York State's coastal homeowners are having difficulty finding coverage in the primary market and producers are seeking alternative sources for placement.
The Professional Insurance Agents of New York State Inc. conducted a poll of 90 PIANY members in the downstate area of New York City, Long Island and Westchester County. The June survey found agents saying many primary carriers continue to seek reduction in their coastal exposures.
"With fewer companies and more underwriting restrictions, agents are turning to alternative markets to write homes close to the water," said David Dickson, PIANY president.
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