Comments from U.S. Sen. Charles E. Schumer, D-N.Y, criticizing three carriers for non-renewing Long Island homeowners' coverage highlights a problem independent agents have seen for more than 10 years, says an association executive.
Insurance Agents & Brokers of Suffolk County President Joanne Bentivegna says this insurance issue is getting worse for Long Island residents and businesses, especially those near the coast.
Yesterday, Schumer released a statement singling-out Allstate, State Farm and Liberty Mutual for withdrawing from the Long Island market by non-renewing homeowners policies. He said his office has received numerous complaints, adding that customers have had to turn to the Excess and Surplus Lines market for coverage, paying 15 to 20 percent more than they paid under their standard policies.
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