Op-ed: Solving N.Y.’s auto insurance problem

The mayoral election highlighted the fact that increasing numbers of New Yorkers cannot afford the high cost of living in our city. The solutions to the affordability crisis are complicated, but a great place to start is to reform the laws that make New Yorkers pay some of the highest insurance rates in the nation. 

Across the board, New York has 15% higher insurance premiums than any other state. Insurance is a major factor in high rents, health care costs, and construction costs. Average claims in New York amount to more than $7,000 per household, which is 67% higher than the national average of $4,200. Read more…