NU Online News Service, Oct. 15, 3:47 p.m. EDT
A panel formed to assess the state of coastal homeowners insurance in New York met for the first time earlier this week, with agent and regulatory representatives noting that there remains an affordability issue in some regions in the state.
Speaking to NU Online News Service, New York Insurance Superintendent James Wrynn said he wants to be proactive on the affordability issue, rather than waiting until it reaches crisis levels. He said the insurance department is exploring "modest measures" to assist consumers and to make the marketplace more competitive.
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