The New York state Senate has issued a sweeping request for information on the state’s residential property insurance market—signaling the start of what could become a fast-moving legislative push to address skyrocketing premiums, shrinking availability and increasing consumer frustration.
PIANY has received this official request, and it will submit a formal response. We need your input by Thursday, Aug. 21, 2025.
This request was not limited to agents. It was sent to organizations across the insurance industry, including carriers, trade associations and other stakeholders. The wide net reflects the seriousness of this inquiry and the likelihood of substantial legislative action.
Who’s behind the request?
The joint investigation is being led by three influential Senate committee chairs:
- Sen. James Skoufis, D-42, chair, Committee on Investigations and Government Operations
- Sen. Brian Kavanagh, D-27, chair, Committee on Housing, Construction and Community Development
- Sen. Jamaal T. Bailey, D-36, chair, Committee on Insurance
Together, these committees are examining the profitability, availability, coverage terms and market viability of residential property insurance across New York state, including:
- single-family homes,
- multifamily rental properties, and
- cooperative and condominium housing.
The Senate’s goal? To determine what’s driving cost increases and coverage restrictions—and to set the stage for potential reforms as early as the next legislative session.
Why this matters to you
This is more than a data request. It’s the opening salvo in what could lead to significant regulation of how insurance carriers and markets operate in New York state’s residential space.
If lawmakers move forward without input from the insurance agents working closest with policyholders, reforms may be misguided or counterproductive, potentially worsening market conditions and limiting carrier flexibility even further.
PIANY will advocate on behalf of our members—but we need your stories to make a credible case.
What we need from you
Please send us real-world examples that illustrate current market challenges, including:
- Residential clients unable to obtain coverage.
- Sudden nonrenewals or policy cancellations.
- Premium spikes that derail real estate closings.
- Regional trends—especially in high-risk ZIP codes.
- Carrier withdrawals from specific counties or product lines.
- Impacts on landlords or affordable housing providers.
We’re especially seeking anecdotes from personal lines agents—your front line perspective is essential.
How to submit
Deadline: Thursday, Aug. 21, 2025
Email: govaffairs@pia.org
Please include your name, agency, region and a brief description of the issue. Confidentiality will be respected in all official submissions.
PIA’s role: Ensuring agent voices are heard
We are preparing a formal response to the Senate committees and will include member-submitted input to highlight what’s really happening in the marketplace. While insurers are often the focus of such investigations, independent agents are the ones working directly with the consumers impacted by these trends.
If we don’t speak up now, the story will be told without us—and the outcome may not support a healthy, competitive insurance market.
Don’t wait
The legislature is gathering evidence quickly to set a reform agenda. Help ensure it’s based on reality—not rhetoric. Your input can shape what comes next.
Bradford J. Lachut, Esq.
Bradford J. Lachut, Esq., joined PIA as government affairs counsel for the Government & Industry Affairs Department in 2012 and then, after a four-month leave, he returned to the association in 2018 as director of government & industry affairs responsible for all legal, government relations and insurance industry liaison programs for the five state associations. Prior to PIA, Brad worked as an attorney for Steven J. Baum PC, in Amherst, and as an associate attorney for the law office of James Morris in Buffalo. He also spent time serving as senior manager of government affairs as the Buffalo Niagara Partnership, a chamber of commerce serving the Buffalo, N.Y., region, his hometown. He received his juris doctorate from Buffalo Law School and his Bachelor of Science degree in Government and Politics from Utica College, Utica, N.Y. Brad is an active Mason and Shriner.
