NYC Council Speaker Julie Menin rallied at City Hall in support of Introduction 685, proposed legislation to establish a first-in-the-nation Office of Insurance Accountability for New York City. The proposed office would investigate deceptive insurance practices, issue policy recommendations to stabilize or lower insurance costs, and create a consumer assistance unit to help New Yorkers facing claim delays or denials. The bill is modeled on NYC Local Law 78 of 2023, which created the Office of Healthcare Accountability and has since produced a health plan projected to save taxpayers up to $1 billion per year.
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