A controversial 140-year-old, only-in-New York law that holds property owners and contractors responsible for all falls on construction sites, even in instances of worker negligence, has caused insurance costs to skyrocket up to 500% higher than in other states, a report released Wednesday shows.

The study, released by the Buildings and Trade Employers’ Association, found that insurance premiums now consume 8 to 10% of development budgets, in large part because of the Scaffold Law’s standard of "absolute liability," in which property owners and employers are held financially liable for injuries caused by "gravity," regardless of who is at fault.

Billions 'wasted'

Newsday has investigated the impact of the Scaffold Law for nearly a year, with a particular focus on allegations that the

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