Senator Yates championed consumer protection during the recent Senate Standing Committee on Banking & Insurance meeting, emphasizing the need for a narrowly tailored bill aimed at addressing insurance costs and fraud. He expressed concern over rising insurance premiums, sharing his own experience of a staggering $30,000 increase for his apartment complexes.

Yates highlighted that many local attorneys avoid pursuing cases related to insurance fraud, viewing them as civil matters rather than criminal. He argued that establishing per se liability could strengthen the case against bad actors in the insurance industry, ultimately benefiting consumers. "This isn't just about protecting insurance companies; it's about ensuring that consumers can afford to maintain insurance on their properties," he stated.

The committee moved swiftly to adopt the bill, with unanimous support from members present. Yates warned that without intervention, Kentucky could face insurance crises similar to those in Florida, where skyrocketing costs have made coverage unaffordable for many. The bill's passage is seen as a crucial step toward stabilizing insurance rates and protecting consumers from exploitative practices.