NY Assembly reviews auto insurance costs

NY Assembly holds hearing on auto insurance costs; report says policy pricing is unfair

Associated Press

ALBANY, N.Y. (AP) -- State lawmakers want to know if auto insurers are charging blue collar New Yorkers more for insurance based on their education and occupation.

Democratic Assemblyman Kevin Cahill questioned insurance industry representatives about the practice during a hearing on auto insurance costs Thursday.

The New York Public Interest Research Group reported recently that three of the state's largest insurers charge blue-collar workers significantly more than college-educated professionals with the same driving record.

Kristina Baldwin, from the trade group Property Casualty Insurers Association of America, questions some of the report's findings and says insurers use many factors to best gauge policyholder risk.

Democratic Sen. Timothy Kennedy says he may seek legislation to outlaw the practice, which he says is unfair.

The state's Department of Financial Services is now reviewing the report's findings.

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