Governor Kathy Hochul announced new rules today that prevent insurers from making decisions based on a property’s status as affordable housing or a tenant’s income source. The guidance from the New York State Department of Financial Services ensures that insurers cannot deny or change coverage due to these factors.
“This new guidance sends a clear message: New York won’t allow bias against affordable housing,” Governor Hochul said. “Discrimination raises costs for property owners and renters, putting affordable homes at risk. We are committed to fairness in the housing market to keep costs down for everyone.”
Superintendent of Financial Services Adrienne Harris praised the move as a critical step in fighting discrimination and ensuring fairness in New York’s housing market. Homes and Community Renewal Commissioner RuthAnne Visnauskas added that the new law will prevent stigma against tenants with government assistance, promoting access and affordability.
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