Chamber President Testifies on Insurance Challenges Facing Small Businesses
On April 29, Chamber President and CEO Linda Baran provided testimony to the New York City Council’s Committee on Consumer and Worker Protection. The testimony emphasizes the need for coordination with existing resources and a broader look at the factors driving insurance costs to ensure the Office delivers practical value.
Testimony by Linda M. Baran, President & CEO of the Staten Island Chamber of Commerce
Committee on Consumer and Worker Protection
Re: Intro. 685 of 2026, in relation to establishing an Office of Insurance Accountability
Good morning Chair and members of the Committee,
My name is Linda Baran, President and CEO of the Staten Island Chamber of Commerce. Thank you for the opportunity to testify today.
We appreciate the intent behind this bill and support efforts to bring more transparency and understanding to the insurance market, especially as small businesses continue to face rising premiums and fewer options.
For small businesses, insurance is not a simple or standardized product. It looks different depending on the business and what they need. It is also important to recognize the role of brokers. For most small businesses, their broker is their main point of contact, not the insurance company or a regulator. They help them navigate a very complex system.
We would encourage that brokers be specifically included in the language of the bill, particularly in sections related to consultation and reporting, to ensure their real-world experience helps inform the work of this office.
While the City does not have direct authority over insurance regulation, which is handled at the state level, it can still play a helpful role in making the system easier for small businesses to navigate. At the same time, we would encourage that this effort be designed to complement, not duplicate, existing resources. A focus on coordination and efficiency will be key to making sure it adds value without creating more confusion.
We also encourage the City to use this Office as an opportunity to take a closer look at what is driving insurance costs. Rates are set at the state level, so this is not just about pricing, but about the broader environment that impacts those costs.
The legal environment and the cost of claims play a significant role in what businesses are paying. As the State continues to look at reforms in these areas, those conversations are directly connected to what small businesses are experiencing.
At the same time, policy decisions and regulatory requirements can directly impact coverage and costs, and identifying where City policy may be contributing to these pressures, and where adjustments could help stabilize costs, would be a meaningful step forward.
The value of this office will ultimately depend on its ability to not only inform, but to identify and elevate the factors driving costs and help inform policy decisions that impact small businesses.
Finally, as the bill contemplates an assistance office, we would encourage that it clearly apply not only to individual consumers, but also to small businesses, who face many of the same challenges but often navigate more complex insurance needs.
Small businesses are already operating in a high-cost environment, and insurance is becoming harder to manage. Efforts like this can be helpful if they stay focused and practical.
Thank you for your time and consideration