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Bill

SR 160

MEMORIAL-MILENA A. MCCONCHIE

104th Regular Session Introduced by Don DeWitte

SR 160 requests a study on wildfire risks and insurance, aiming to improve coverage and affordability for homeowners and businesses in fire-prone areas.

Resolution Adopted
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Bill Summary · SR 160

Summary of SR 160: Requesting a Comprehensive Study on Wildfire Risk and Insurance

Bill Overview

Bill Number: SR 160
Title: Requesting the Insurance Commissioner to Conduct a Comprehensive Study on Wildfire Risk and Insurance, Including Market-Based Approaches
Status: Certified copies of resolution sent on May 31, 2024
Introduced: March 7, 2025
Classification: Resolution
Subject: Insurance Commissioner, report, study, wildfire risk and insurance

Purpose and Intent

The primary purpose of SR 160 is to request the Insurance Commissioner to undertake a thorough study focused on the risks associated with wildfires and the insurance market's response to these risks. The resolution aims to explore market-based approaches that could enhance the availability and affordability of insurance for properties at risk of wildfires.

Key Provisions

  • Comprehensive Study: The resolution mandates the Insurance Commissioner to conduct an in-depth analysis of wildfire risks and the current insurance landscape.
  • Market-Based Approaches: The study will specifically look into innovative market-based strategies that could improve insurance coverage options for individuals and businesses in wildfire-prone areas.
  • Reporting Requirements: The findings from the study are expected to be compiled into a report, which will be submitted to the relevant legislative bodies for review and potential action.

Affected Parties

  • Insurance Policyholders: Homeowners and businesses in areas susceptible to wildfires will be directly impacted, as the study aims to address their insurance needs.
  • Insurance Companies: The resolution may influence how insurance providers assess risk and develop products tailored to wildfire-prone regions.
  • State Agencies: The findings could lead to new policies or regulations affecting how wildfires are managed and how insurance is structured in the state.

Legislative Actions and Timeline

  • March 7, 2025: Bill offered.
  • March 12, 2025: Referred to the committees on HRE (Higher Education) and WAM (Ways and Means).
  • March 17, 2025: Public hearing scheduled.
  • March 20, 2025: HRE committee recommended the measure be passed with amendments.
  • March 24, 2025: Report adopted and referred to WAM.
  • March 28, 2025: Waived referral to WAM and scheduled for one-day notice.
  • March 31, 2025: Report and resolution adopted as amended (SD1).

Related Bills

  • SCR 142: Companion resolution related to the study of wildfire risks.
  • SCR 186: Another companion resolution addressing similar issues.

Conclusion

SR 160 represents a proactive step towards understanding and mitigating wildfire risks through a comprehensive study led by the Insurance Commissioner. By investigating market-based insurance solutions, the resolution aims to enhance the resilience of communities vulnerable to wildfires, ultimately benefiting policyholders and the insurance industry alike.

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

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