"They're sometimes forced to pay some really outrageous jackpot legal settlements, even when their own drivers are not at fault, Hochul said. And it's costing us millions and millions of dollars. So who loses in this? All the transit riders. Because the money that we're spending on these payouts is money that's not being spent investing in this system."
"The governor and the MTA boss, during a Friday news conference at the Mother Clara Hale Bus Depot in Harlem, both highlighted the agency's new finding that the measure will save it approximately $50 million that it spends on personal injury insurance payouts annually."
Governor Kathy Hochul and MTA Chair Janno Lieber announced a controversial auto insurance reform proposal designed to lower car insurance premiums while benefiting public transit. The MTA estimates the measure will save approximately $50 million annually in personal injury insurance payouts, funds that could be redirected toward service improvements. Hochul attributes rising insurance costs to fraudulent claims and excessive legal settlements, arguing that transit riders benefit indirectly by freeing resources for system investment. However, the proposal has generated controversy due to reports of backing by tech companies and concerns that it may limit compensation options for crash victims. The governor frames the initiative as cost-saving for New Yorkers while emphasizing benefits for the millions who depend on subway and bus services.
Read at www.amny.com
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