We have to fix NY's broken car insurance system. It's racial justice.Michael A. Grant |
For Black and Brown New Yorkers, the freedom of the road comes with a discriminatory surcharge.
In a state grappling with a relentless cost-of-living crisis and some of the highest auto insurance premiums in the nation, our insurance system has devolved into a modern-day version of redlining, one that has stalled the engines of economic mobility for those most striving to achieve it.
Black neighborhoods in New York City, for example, pay as much 83% more for the same coverage than those in predominantly white neighborhoods, even when their risk profiles are comparably similar. This burden is particularly heavy for women of color, who earn less on average yet face some of the highest premiums of any demographic.
Fixing this disaster requires the political will to tackle entrenched special interests, specifically a powerful trial lawyer lobby profiting from a tsunami of litigation fueled by staged accidents and rampant fraud.
Albany lawmakers should work with Hochul to tackle a real crisis
Gov. Kathy Hochul’s proposals to tackle fraudulent claims and staged accidents address a genuine crisis. Now, lawmakers must move swiftly to hold the criminal masterminds of these fraud rings legally liable,........