New York directs the Department of Financial Services to study rising insurance premiums, lack of flood coverage, and the feasibility of a private.

The bill mandates the New York Department of Financial Services to conduct a comprehensive study on the rising costs of property insurance premiums, the unavailability of insurance coverage for flood losses, and the potential for establishing a private flood insurance market in the state. The study will analyze factors contributing to increased insurance costs and limited coverage, as well as the potential impact of these issues over the next decade.

New York directs the Department of Financial Services to study rising insurance premiums, lack of flood coverage, and the feasibility of a private.

The bill mandates the New York Department of Financial Services to conduct a comprehensive study on the rising costs of property insurance premiums, the unavailability of insurance coverage for flood losses, and the potential for establishing a private flood insurance market in the state. The study will analyze factors contributing to increased insurance costs and limited coverage, as well as the potential impact of these issues over the next decade.