Council Member Dinowitz on Office of Insurance Consumer Advocate and rate oversight provisions
Dinowitz details how the bill would establish an Office of Insurance Consumer Advocate to represent consumers before DFS with the ability to request hearings on rate increases. He adds that municipalities could petition for rate reductions and insurers would be required to justify proposed increases in a standardized format for more effective public oversight.
It would also establish an Office of Insurance Consumer Advocate to represent consumers'interests before DFS with the ability to request hearings surrounding rate increases.
Furthermore, municipalities could petition for rate reductions and insurers would be required to justify proposed increases and follow a standardized format in rate applications, allowing for more effective public oversight.