FOR IMMEDIATE RELEASE
HOMEOWNERS INSURANCE IS FOCUS OF FEB. 27 PUBLIC HEARING
Superintendent of Insurance Howard Mills today announced that the New York State Insurance Department will hold a public hearing focusing on conditions in the homeowners' insurance market in light of Allstate's decision earlier this month to stop writing new homeowners policies in Long Island, New York City, and Westchester. The hearing will be held on Monday Feb. 27, 2006 starting at 10 a.m. at the Department's New York City office, which is situated at 25 Beaver Street, Manhattan.
"I called Allstates president last week to inform him that our Department will hold a public hearing to explore current conditions in the homeowners' insurance market," Superintendent Mills stated. "Allstate has indicated its willingness to participate in the forum and we expect additional insurers and other interested parties to appear at the hearing, as well."