New York City Council Committee on Consumer and Worker Protection Vote on Insurance Affordability Legislation - August 13, 2026
New York City Council Committee on Consumer and Worker Protection Vote on Insurance Affordability Legislation - August 13, 2026
The New York City Council Committee on Consumer and Worker Protection, chaired by Councilmember Harvey D. Epstein, convened on August 13, 2026, at 10:45 AM in Hearing Room 1 at 250 Broadway. The meeting focused on voting on four pieces of legislation aimed at addressing rising insurance costs in New York City and state. All items were approved by a vote of 10 in favor and 0 opposed, with Councilmember Chi A. Ossé absent. (Note: The meeting transcript references a vote of nine in the affirmative, but the official minutes record ten affirmative votes from all present members.)
Discussion Items
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Int. No. 685-B (Office of Insurance Affordability): Chair Epstein introduced this legislation, sponsored by the Speaker, to establish an Office of Insurance Affordability within the New York City government. The office would work to mitigate the impact of rising insurance costs on New Yorkers and city agencies. The bill was amended twice during the legislative process before the final version (Proposed Int. No. 685-B) was voted on.
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Res. No. 0387-2026 (Affordable Housing Property Insurance): Sponsored by Councilmember Gale A. Brewer, this resolution calls on the New York State Legislature to pass and the Governor to sign bills A.07828A/S.07939, A.9015, and A.9016A. Councilmember Brewer stated that these state bills would create a relief fund program to provide grants to eligible affordable housing projects for commercial insurance expenses and establish a task force to address the affordable housing insurance crisis. She noted that insurance is a major challenge for making affordable housing term sheets work.
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Res. No. 0389-2026-A (Automobile Insurance Consumer Information Act): Sponsored by Councilmember Eric Dinowitz (who was present at the meeting), this resolution supports state legislation S.1196/A.3893. Councilmember Dinowitz highlighted that New Yorkers face an average annual auto insurance premium of $4,223, nearly twice the national average, and that the New York State Department of Financial Services (DFS) lacks a dedicated consumer advocate. The state bill would require DFS to publish premium and complaint information online, establish an Office of Insurance Consumer Advocate, allow municipalities to petition for rate reductions, and require insurers to justify proposed increases in a standardized format.
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Res. No. 0395-2026 (Homeowners' Insurance Rate Cap): Sponsored by Councilmember Morano (who was not present), this resolution calls on the state legislature and Governor to pass S.6356/A.4188, which would prohibit homeowners' insurance rate increases exceeding 25% per year. Chair Epstein summarized the resolution's purpose.
Key Outcomes
All four items were approved by the committee with a vote of 10 in favor (Epstein, Aldebol, Ariola, Banks, Brewer, De La Rosa, Hanks, Krishnan, Schulman, Wilson) and 0 opposed, with Councilmember Ossé absent. The approved items will now proceed to the full City Council for consideration.
Meeting Transcript
Good morning and welcome to this New York City Council vote on consumer and worker protection. At this time, during today's vote, no one may approach the days. Please silence any training devices that you may have. Chair, you may begin. Good morning, everyone. Today's consumer worker protection committee vote. I'm Harvey Epstein, Chair of the Committee. I'm joined by colleagues, uh Carmen Delarosa. Lynn uh Schumann, I don't know why I'm sorry. Carl Wilson, Shirley Hodgeball, sorry. I don't know. Uh Shaker Krishna, Gail Brewer, and Eric Dinowitz for the joy of being here. Um for the resolution and the joy of being here. Um today we're voting on uh legislation aimed at combating the rise of cost of insurance in New York. Uh every impacts every New Yorker and every single agency. It's uh introduction 685 by the speaker establishing the Office of Insurance Accountability. Resolution 387 by Councilmember Brewer, which we'll be hearing from soon, calling on the New York State Legislature to pass the governor to sign. Uh a 07828 A and Senate 07939 and A90515 and A9016 to mitigate the cost of insurance. Resolution by Councilmember Dinowitz, calling on New York State Legislature to pass the governor sign the Automobil Insurance Consumer Protection Act. Resolution 395 by Councilmember Morano, calling on the state legislature and the governor sign S 6356 and A4188 prohibiting the increase in rates from homeowners' insurance in excess of five percentage, 25 percentage points a year. I would also like to bring over to the sponsors of the resolution, starting with Councilmember Brewer. Thank you very much, Chair. Um I think you have uh made it very clear that insurance, particularly for affordable housing, is incredibly challenging. I know that many people have tried to address this, and I can't say it's been successful. So, to the credit of those in Albany, they are trying to create a fund. It would be a fund for affordable housing insurance. It will be a relief fund program to provide grants to eligible projects for reasonable and necessary commercial insurance expenses. Right now, as you know, if you build affordable housing insurance is one of your biggest challenges to making the term sheets work. Also part of part of part of this legislation will be a task force to address the affordable housing insurance crisis and to improve availability and pricing. All of this is very challenging, but I think we have to give it uh our best efforts, and I look forward to hopefully some positive outcomes. Thank you very much. Thanks, Councilmember Brewer. Turn over to Councilmember Dinowitz. Thank you, Chair. Not just for allowing me to speak, but for the joy of being here at this committee hearing today. Um happy to be here. Um, you know, as we all know, the auto industry auto insurance is mandatory in New York. Uh, there's no office or official that exclusively represents consumer interests to the New York State Department of Financial Services. This means that at a time when insurance rates have skyrocketed nationally, there is no body analyzing insurers' proposed rate hikes through the lens of consumer advocacy. This shortcoming proves especially dire as New Yorkers face an average annual premium of $4,223, which is nearly twice the national average. Moreover, uh DFS does not publish information on insurance premiums, depriving consumers of much needed transparency when selecting a plan. New Yorkers are disempowered, unable to comparison shop or assess the fairness of increase in their coverage, and that is why we are passing resolution 389, which calls on the state to pass Senate Bill 1196, also known as the Automobile Consumer Information Act. This bill would require DFS to publish automobile insurance premium and complaint information on its website, enabling consumers to compare plans and encouraging competition based both on cost and quality of coverage. It would also establish an Office of Insurance Consumer Advocate to represent consumers' interests before DFS with the ability to request hearings surrounding rate increases. Furthermore, municipalities can petition for rate reductions and insurance and insurers would be required to justify proposed increases and follow a standardized format in rate applications, allowing for more effective public oversight. As our city faces an affordability crisis, it's essential that we act to help reduce costs of necessities wherever we can. Car insurance has become far too burdensome on the average working New Yorker, and it's our responsibility to take action. And I thank my colleagues for their vote on this resolution today. Thank you, Chair. Thank you, Councilmember Dinowitz.
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