Real estate’s next legislative priority: insurance reform

Developers and owners who flocked to the Somos conference in Puerto Rico are optimistic that this will be the year they can get lawmakers to deliver some relief for skyrocketing insurance costs. Liability claims related to “slip and fall” cases have reached a fever pitch in New York, impacting not only building owners but also the city itself, with the Mamdani administration recently filing a RICO action against personal injury firm Asher & Associates, alleging phony claims that cost taxpayers millions.   Affordable housing is in a cost conundrum, with all rent-stabilized apartment rents frozen for the next two years amid […]

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