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Q&A

Companies indicate they lack catastrophic risk insurance

New York City Council · Oct 5, 2026 · starts 1:47:11 · 41 sec

Menin asks companies to raise a hand if they carry insurance for catastrophic risks. When no one does, she concludes the public would absorb costs, and Friend offers to consult Google lawyers and get back to the committee.

Julie Menin

I now have a question.

Julie Menin

I'm going to ask you to please raise your hand if your company has insurance for catastrophic risks.

Julie Menin

Okay, I'm going to take that as a no, that no company has liability insurance for catastrophic risk to cover large-scale harm.

Julie Menin

So then the public, I assume, would be asked to absorb the costs.

Member of the Public - Alice Friend

Madam Speaker, I have to be clear.

Member of the Public - Alice Friend

I don't know the answer to that, but I'd be happy to consult with our lawyers and get back to you.

Julie Menin

Yes, we would appreciate an answer back expeditiously to this committee.