Bill > A09015

This bill establishes an Insurance and Housing Task Force to address the challenges of affordable housing insurance in New York. The task force will be co-chaired by the superintendent of financial services and the commissioner of homes and community renewal, and will include representatives from insurance associations, insurers, housing stakeholders, and advocacy groups. The task force's primary objectives include conducting a comprehensive assessment of insurance availability, pricing, and coverage for affordable and multifamily housing across New York, evaluating market barriers, reviewing insurance underwriting practices, and identifying strategies to reduce insurance costs and improve accessibility. The group will be required to publish an interim report within nine months and a final report within 18 months, which will outline recommended actions, responsible entities, and potential legislative or regulatory changes. The task force will meet quarterly, hold public listening sessions, and the Department of Financial Services will publish an annual dashboard tracking progress. Notably, the task force is authorized to request data from insurers and will treat sensitive information confidentially. The legislation is designed to address documented problems with steep insurance costs and reduced availability for affordable housing developments, with the ultimate goal of improving housing insurance options for New York residents.

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https://www.nysenate.gov/legislation/bills/2025/A9015