Summary of S.Res. 556 (Senate)

Overview

• Bill Type: Senate resolution (non-binding)
• Bill Number: S.Res. 556
• Title: A resolution recognizing that Florida's insurance market is gravely stressed by climate risks.
• Introduced: December 17, 2025
• Status: Introduced in Senate and referred to the Committee on Banking, Housing, and Urban Affairs
• Classification: Resolution

Purpose and Intent

• The resolution formally acknowledges that Florida’s insurance market is under significant stress due to climate-related risks.
• It aims to articulate concern at the federal level about the impact of climate risk on insurance availability, affordability, and market stability within Florida.
• As a resolution, its primary role is to express the sense of the Senate, highlight policy considerations, and potentially prompt further study or action by relevant federal agencies or committees.

Key Provisions (Inferred from Title and Nature of Resolution)

Because the text of the resolution is not provided, the following points reflect typical elements of such resolutions:
- A declarative finding that climate risks (such as increased hurricane intensity/frequency, flooding, and other extreme weather events) are affecting Florida’s property/casualty insurance market.
- A statement of concern about the consequences for homeowners, businesses, and insurers operating in Florida.
- Urgency for federal attention or action to assess, monitor, and address climate-related insurance market stress.
- Potential calls for federal agencies (e.g., the Federal Emergency Management Agency, the National Flood Insurance Program, the Federal Reserve, or others involved in housing finance and insurance markets) to study or report on impacts and to consider policy responses.
- Acknowledgment that state-level actions and private market responses are critical to maintaining insurance access and affordability.

Note: The precise provisions, directives, or calls to action would be found in the adopted text of the resolution once released.

Who Is Affected

• Florida residents and homeowners who rely on insurance coverage for property and related risks.
• Insurers and the Florida insurance market facing elevated risk, higher premiums, or limited market capacity due to climate exposure.
• Federal policymakers and regulatory bodies involved in housing, insurance, and disaster preparedness, should the resolution urge scrutiny or action.

Procedural and Timeline Aspects

• Introduced: December 17, 2025
• Referral: Referred to the Senate Committee on Banking, Housing, and Urban Affairs on the same day it was introduced.
• Next steps: The committee may review the resolution, conduct hearings, or request additional information. If the committee reports the resolution, it would proceed to the full Senate for consideration; otherwise, it may remain under committee jurisdiction.

Potential Impact

• As a non-binding resolution, S.Res. 556 does not create new legal requirements or impose obligations. Its impact is primarily:
  • Politically and symbolically significant, signaling federal concern about climate risk effects on Florida’s insurance market.
  • A possible catalyst for further legislative inquiries, studies, or policy discussions related to climate risk, housing finance, and insurance resilience.
  • A reference point for stakeholders evaluating federal attention or potential policy responses to insurance market stress linked to climate risks.

If you’d like, I can add a brief comparison with similar resolutions or outline potential related policy areas (e.g., climate risk disclosure, federal flood insurance reforms) that often accompany such congressional actions.