The New York State Department of Financial Services has begun implementing new laws in New York's budget that aim to make insurance more affordable and accessible. The measures are intended to lower auto insurance costs by cracking down on fraud and abuse and by helping consumers use available policy discounts. The budget also requires insurers to make lists of covered benefits more transparent and accessible, and it reduces barriers to insurance coverage for people with chronic conditions. The Department said implementation is already under way as part of its work to improve access to affordable financial products and deliver cost savings for New Yorkers.
New York State Department of Financial Services2026-05-28
New York State Department of Financial Services begins implementing budget measures to cut auto insurance costs and expand insurance access
The New York State Department of Financial Services has begun implementing new budget laws intended to make insurance more affordable and accessible, including measures to lower auto insurance costs by addressing fraud and helping consumers use policy discounts. The laws also require insurers to make covered benefits more transparent and reduce barriers to coverage for people with chronic conditions, as part of the Department’s broader work to improve access to affordable financial products.