New York homeowners market holding steady

02/24/2006 | Insurance Journal

New York's homeowners insurance market is stable and needs no further regulation at this time, a representative from the Property Casualty Insurers Association of America is expected to tell the New York Department of Insurance at a hearing scheduled for Monday. "All indications are that, despite the tumultuous 2005 hurricane season, insurance is available in New York's coastal areas," said Kristina Baldwin, PCI's regional manager. "Fortunately, while there has been some growth in the program, NYPIUA's market share remains minor and stable at this time and there is no indication that this is likely to change."

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