Injury-liability law responsible for higher construction insurance cost in New York

A state law holds builders solely liable for accidents

March 03, 2014 |
Image: khunaspix via FreeDigitalPhotos.net

Construction contractors and developers in New York state face $3 billion more in costs and 667 more accidents per year because of a state law that holds builders solely liable for such accidents, according to a study commissioned by the New York Civil Justice Institute.

Opponents of the law say it results in higher construction insurance costs.

(http://www.crainsnewyork.com/article/20140219/REAL_ESTATE/140219844/obscure-law-drives-up-building-costs)

 

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