State Senate Majority Leader Wants Answers on Insurance - Streetsblog Empire State

"She's put forward her proposal and we are as interested [as] anyone in making sure that we are not overcharged and subjected to fraud. So I believe we'll have a broader conversation. Yes, sir, [the governor should explain what promise there is insurance companies would actually lower their rates]."

"Hochul wants to disqualify people in that latter category of non-permanent injuries, even if the injuries keep victims from going through their day-to-day for three months. This would have a dramatic effect on crash victims with traumatic brain injuries or soft tissue injuries because they don't neatly fit the remaining definitions."

Governor Hochul has proposed an insurance reform plan backed by Uber that aims to reduce auto insurance premiums by narrowing the definition of "serious injury" and limiting victim compensation. The proposal would disqualify people with non-permanent injuries from receiving enhanced compensation, even if those injuries prevent work for three months. It would also eliminate proportional compensation based on fault percentages. State Senate Majority Leader Andrea Stewart-Cousins expressed skepticism about the plan, requesting the governor explain what assurances exist that insurance companies would actually lower rates rather than maintain profits. Growing doubt exists among legislators about whether the proposal will achieve its stated goal of reducing insurance costs.

Read at Streetsblog