NYS Seal For Immediate Release:
September 19, 2002
Silver Announces Assembly Public Hearing on Lower Manhattan Insurance Problems Since Sept. 11 Attacks

Speaker Sheldon Silver today announced that an Assembly public hearing has been scheduled for October 15 to examine the difficulties many area residents and businesses have faced in obtaining affordable insurance coverage since the September 11 attack.

"Among those most impacted by the terrorist attack and its aftermath are those of us who live, work and own small businesses in Lower Manhattan," Silver said. "Now, more than a year after that horrible day, we have made progress in our efforts to stabilize and revitalize our community and the spirit of all who live and work here, yet we still have so much to do."

Silver noted that a major problem faced by businesses and residents throughout Lower Manhattan is the ability to obtain all kinds of insurance coverage.

"Some insurers are pulling out of the area altogether while others are dramatically increasing premiums, and many customers are still struggling to settle outstanding claims," Silver said. "Our hearing will focus on whether the state Insurance Department and the insurance industry have effectively assessed the problem and advanced possible solutions."

Silver will co-chair the hearing with Assembly Insurance Committee Chair Alexander B. Grannis (D-Manhattan). The hearing will be held:

Tuesday, October 15 - 10:30 a.m.
Assembly Hearing Room
250 Broadway at Park Place,
19th floor - Room 1923

Silver is a lifelong resident of the Lower East Side. His legislative district includes the financial district, civic center area, the World Trade Center site, Chinatown and much of Battery Park City.

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New York State Assembly
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