""Insurance prices are skyrocketing, which is then causing our small businesses to pass those costs along to the consumer, and people do not have the kind of money they did. Everybody is suffering, and that causes small businesses to suffer because they can't afford to pay the insurance prices necessary for liability insurance.""
""The creation of an Office of Insurance Accountability would help to reduce what she described as one the fastest-growing pressures on the housing market.""
The proposed legislation for an Office of Insurance Accountability seeks to establish standards in the insurance industry, preventing companies from charging excessive rates. This office would provide access to vital information for individuals and businesses, conduct annual studies on insurance costs, and track deceptive practices. Advocates believe it will help alleviate rising insurance costs, which are impacting small businesses and the affordability crisis in housing. The bill has garnered bipartisan support from several council members.
Read at QNS
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