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Bill

S 7827

Provides for actuarially appropriate discounts on fire and homeowners insurance after completion of certified residential home safety and loss prevention course; repealer

2025 Regular Session Introduced by Jessica Scarcella-Spanton

Provides actuarially calibrated fire and homeowners insurance discounts to policyholders who complete a certified home safety and loss-prevention course; repeals rules.

REFERRED TO INSURANCE
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WeVote Research Nonpartisan
Bill Summary · S 7827

Bill Summary: S 7827

Overview

S 7827, titled “Provides for actuarially appropriate discounts on fire and homeowners insurance after completion of certified residential home safety and loss prevention course; repealer,” was introduced on May 9, 2025 and is currently REFERRED to the Insurance committee. The primary sponsor is Senator Jessica Scarcella-Spanton. The bill also shows multiple related Assembly bills and a companion with the same objective.

Purpose and Intent

  • The bill aims to encourage residential safety and loss prevention by offering insurance premium discounts to policyholders who complete a certified home safety and loss prevention course.
  • Discounts would be actuarially appropriate, meaning they would be calibrated based on actuarial analyses of risk reduction expected from the course.

Key Provisions (as indicated)

  • Establishment of premium discounts on fire and homeowners insurance for individuals who complete a certified residential home safety and loss prevention course.
  • The discounts must be actuarially appropriate (rates or credits determined through actuarial analysis to reflect reduced risk).
  • A repealer provision is included, indicating that certain existing provisions would be repealed or replaced to implement the new discount framework.
  • Certification requirement: the course must be certified as a residential home safety and loss prevention program.
  • Administration: insurers would apply the discounts to eligible policies, in alignment with the actuarial determinations and course completion documentation.

Note: The specific discount amounts, eligibility details (e.g., which policy types or coverage limits), certification process, accountable state agency, and any sunset or renewal provisions are not provided in the summary available.

Affected Parties

  • Policyholders with fire and homeowners insurance who complete the certified course.
  • Insurance carriers issuing fire and homeowners policies.
  • Course providers authorized to certify completion of the program.
  • The state insurance regulatory framework (to the extent it administers or oversees the discount program and repeal provisions).

Procedural and Timeline Aspects

  • Status: Referred to Insurance (as of May 9, 2025).
  • Legislative history shows the bill was introduced on May 9, 2025 and placed in the Insurance committee for consideration.
  • Related bills: Numerous Assembly counterparts (e.g., A 4688, A 1763 and others) and a companion (also listed as 1763).

Potential Impact and Considerations

  • Safety and Loss Reduction: Encourages voluntary participation in safety training, potentially reducing residential fires and losses.
  • Premium Relief: Provides a potential downward pressure on premiums for participants.
  • Uncertainty Without Text: The exact discount levels, eligibility rules, and who administers certification require the full bill text to assess fiscal impact, implementation costs, and regulatory considerations.
  • Repealer: Indicates alignment or replacement of existing statutes with the new framework.

What to Watch

  • The full text will clarify discount formulas, course certification standards, enforcement, and any thresholds or caps.
  • Any specified effective date, transitional provisions, and whether discounts apply to new policies, renewals, or both.

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

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