Governor Hochul Targets Property Insurers Who Deny Coverage Based on Tenant Income, Vouchers

“Gov. Kathy Hochul is proposing new rules to prohibit insurers from discriminating against low-income tenants, following a Gothamist investigation into the pervasive practice contributing to surging housing costs. Hochul’s executive budget, which was released this week, includes a measure prohibiting insurance companies from refusing to cover buildings based on the tenants’ source of income. The plan would also prohibit insurers from asking property owners how much tenants earn and whether their buildings contain income-restricted apartments where low- and middle-income tenants pay affordable rents.” Fighting source of income discrimination was the first initiative launched under LIBOR’s own nationally-lauded “Home for All of Us” initiative.