Advocating for affordability: PIANY testifies before N.Y.  Senate on residential property insurance 

The New York state Senate held a joint hearing on Nov. 18, 2025, to address a growing concern for homeowners and insurance professionals alike: the rising cost—and shrinking availability of—residential property insurance. The hearing, convened by the Senate Committees on Insurance; Housing, Construction and Community Development; and Investigations and Government Operations, brought together stakeholders to examine the challenges facing New York’s property insurance market and to explore potential legislative solutions. 

Representing PIANY, Bradford J. Lachut, Esq., director of government & industry affairs, delivered testimony on behalf of independent agents and brokers across the state. His remarks focused on the critical role producers play to help New Yorkers navigate an increasingly complex and costly insurance landscape. 

At the heart of the testimony was a simple but powerful message: homeowners are seeking protection, not just compensation. The loss of a home is more than financial—it’s emotional and disruptive. Insurance producers understand this deeply, as they work daily with clients who would rather prevent a loss than file a claim. 

The testimony highlighted the growing difficulty many New Yorkers face in securing affordable coverage. In the state’s coastal and urban areas, premiums are climbing, coverage is narrowing and insurers are reluctant to write or renew policies—particularly for homes with aging infrastructure. One example cited in Lachut’s testimony was the trend of carriers refusing to insure homes with roofs over 20 years old, regardless of their condition. 

Rather than mandating coverage—which could drive-up costs or reduce insurer participation inadvertently—PIANY proposed a more sustainable solution: incentivizing risk mitigation. Programs offering tax credits or low-interest loans for upgrades—such as replacing old roofs with storm-resistant materials—could improve insurability, attract more carriers and lower premiums ultimately. 

Existing initiatives like the Resilient Retrofits Program and the New York State Energy Research and Development Authority’s energy-efficiency efforts were acknowledged as valuable starting points. However, PIANY’s testimony urged lawmakers to expand these programs to address a broader range of risks and housing types. Recommendations included: 

• Including roof replacements and storm-resistant materials as eligible retrofits. 

• Offering insurance-related incentives, such as premium credits for completed mitigation work. 

• Broadening eligibility to include moderate-income households and areas vulnerable to wind, aging housing stock or urban liability risks. 

• Coordinating with insurers to ensure that mitigation efforts translate into tangible premium savings or improved market access. 

PIANY’s testimony also addressed the need for community-wide investments in infrastructure—such as drainage systems and fire barriers—that reduce systemic risk. Additionally, it called for enhanced consumer education around insurance literacy and low-cost loss-prevention strategies, like sump-pump installation or tree maintenance. 

Beyond mitigation, PIANY advocated for structural reforms to improve market responsiveness. A key priority that was identified was the need to streamline the New York State Department of Financial Services’ rate and form approval processes. Delays in approvals, often due to staffing shortages, hinder insurers’ ability to adapt to market conditions and introduce new products—leaving producers and consumers with fewer options. 

Another area of concern was the impact of rising litigation costs, particularly those driven by third-party lawsuit financing and social inflation. These factors are contributing to higher premiums and more restrictive underwriting. PIANY recommended targeted tort reforms to curb legal abuse and stabilize liability exposure. 

PIANY’s testimony underscored the vital role independent agents play to protect New York state’s homeowners. With the right tools, incentives and policy support, producers can continue to guide clients toward coverage that is both affordable and reliable. 

As the state Legislature considers next steps, PIANY remains committed to working alongside lawmakers, insurers and community partners to build a more resilient and accessible insurance market. The challenges are real—but so are the solutions.