Op-ed | New York led the way on insurance affordability; now it’s time to implement tort reform

New York's transportation sector has been grappling with an auto insurance crisis, with skyrocketing premiums severely impacting taxi fleets, black car services, buses, and delivery companies. Businesses have had to cut back on services, delay investments, or exit the market altogether due to these rising costs. Now, as the state leads in insurance affordability measures, there's a push for implementing tort reform to further stabilize the insurance landscape and prevent a repeat of the affordability crisis in other areas. This move could have significant implications for the economy and the livelihoods of countless small businesses dependent on affordable insurance.