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Bill

SB 11

An Act relating to flood insurance; relating to property insurance; establishing the Alaska Flood Authority and the Alaska flood insurance fund; and providing for an effective date.

34th Legislature (2025-2026) Introduced by Jesse Bjorkman and 3 co-sponsors

SB 11 establishes an Alaska Flood Authority and insurance fund to provide state-backed flood coverage, addressing gaps in private insurance availability and affordability across the state.

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Bill Summary · SB 11

Legislative bill overview

SB 11 establishes the Alaska Flood Authority and creates a dedicated Alaska flood insurance fund to address flood risk coverage gaps in the state. The bill aims to provide Alaskans with more affordable and accessible flood insurance options, particularly in areas where private insurers have limited coverage or withdrawn from the market.

Why is this important

Alaska faces increasing flood risks due to climate change, aging infrastructure, and geographic vulnerabilities, yet many residents and businesses lack adequate flood insurance coverage. Creating a state-backed flood insurance program could reduce the financial burden on homeowners and businesses while potentially lowering demands on federal disaster relief programs and state emergency funds.

Potential points of contention

  • Fiscal impact and fund sustainability: Questions about how the flood insurance fund will be capitalized, whether premium revenues will cover claims, and potential taxpayer liability if losses exceed reserves
  • Premium rates and equity: Concerns about whether rates will be actuarially sound or subsidized, and whether this creates fairness issues between flood-prone and low-risk areas
  • Private market impact: Debate over whether a state program competes with or complements private insurers, and whether it discourages private market participation in Alaska

Compiled from official sources — confirm details with the bill’s official record.

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