Bill
H 1217
Overview: H 1217, An Act relative to modernizing private flood insurance, Hearing scheduled for 05/13/2025 from 10:00 AM-01:00 PM in A-2, Introduced on February 27, 2025.Purpose an
Overview: H 1217, An Act relative to modernizing private flood insurance, Hearing scheduled for 05/13/2025 from 10:00 AM-01:00 PM in A-2, Introduced on February 27, 2025.
Purpose and Intent: The purpose of this bill is to update state laws and regulations to facilitate the growth of the private flood insurance market. The intent is to provide consumers with more options and flexibility in obtaining flood coverage, reducing reliance on the federal National Flood Insurance Program.
Key Provisions:
- Requires insurers to provide consumers with clear information about private flood insurance options and how they compare to the NFIP.
- Prohibits insurers from denying or limiting coverage solely based on a property's previous flood claims history.
- Allows insurers to use their own flood risk assessment models rather than relying exclusively on FEMA flood maps.
- Directs the state insurance department to establish standards for the certification of private flood insurance policies.
Affected Parties and Impacts: This bill would primarily impact private insurance companies offering or seeking to offer flood coverage, as well as consumers in flood-prone areas who would have more choices for obtaining flood insurance. It could also affect the NFIP by reducing the number of policyholders.
Procedural and Timeline Considerations: This bill is currently in the legislative process, with a hearing scheduled for May 13, 2025. If passed, the new laws and regulations would take effect upon the bill's enactment.
Compiled from official sources — confirm details with the bill’s official record.
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