Legislation being mulled in New York could be putting the Empire State "on a path to the bottom" of a list of states with the worst insurance markets.
Kristina Baldwin, vice president for the Property Casualty Insurers Association of America (PCI) says a group of nine insurance bills—one of which looks to prohibit the anti-concurrent causation clause language in homeowners policies—were spawned by Superstorm Sandy, but are also a simple case of trying to fix what isn't broken.
"We understand lawmakers' desire to pass something to help those devastated by Sandy and we are sympathetic," says Baldwin. "But the fact is, the private industry did very well in handling claims following the storm and these bills could hurt the people they are trying to protect.
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