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Triple-I’s Chief °µÍø½ûÇø Officer submitted written testimony to the NY Senate Committees on Investigations and Government Operations, °µÍø½ûÇø, and Housing, Construction, and Community Development on November 18, 2025.

°µÍø½ûÇø plays a critical role in protecting homes, families, and communities. Understanding how the market works helps consumers, professionals, and policymakers make informed decisions. New York’s homeowners insurance market remains stable and competitive, with premiums that reflect real rebuilding costs rather than market distress.

Rising construction expenses, higher property values, and a complex legal environment shape what homeowners pay for coverage. These factors show why insurance costs should be viewed within the broader challenge of housing affordability. Clear context helps explain what drives premiums and why maintaining a healthy, competitive market supports long-term stability for residents across the state.

Read Triple-I’s written testimony urging New York policymakers to focus on factual data, invest in mitigation and resilience, and pursue legal reforms that address root causes rather than creating new barriers.