S719
An Act relative to private flood insurance
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill aims to expand access to and improve the regulation of private flood insurance in Massachusetts. It seeks to address concerns about the availability and affordability of flood insurance, particularly for homeowners in high-risk areas. The legislation intends to create a framework that encourages private insurers to offer more comprehensive and competitive flood insurance options. It also seeks to establish guidelines for rates and coverage to ensure fairness and protect consumers.
Key provisions
- Expands the availability of private flood insurance options.
- Establishes guidelines for rates charged by private insurers.
- Requires insurers to offer certain levels of coverage.
- Addresses concerns about the affordability of flood insurance.
- Focuses on improving consumer protections within the private flood insurance market.
- Promotes competition among private flood insurance providers.
Who is affected
- Homeowners in Massachusetts
- Private flood insurance companies
- Massachusetts residents
- Floodplain property owners
- Financial Services sector
Notable changes
- The bill seeks to shift more flood insurance responsibility from the National Flood Insurance Program (NFIP) to private insurers.
- It establishes regulatory standards for private flood insurance providers.
Sponsors
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Primary sponsor
Cosponsor
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Bill S.719 194th (Current)
An Act relative to private flood insurance
By Mr. Cyr, a petition (accompanied by bill, Senate, No. 719) of Julian Cyr for legislation relative to private flood insurance coverage and rates. Financial Services.
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Bill Information
Bill Information
Presenter: Julian Cyr Status: Referred to Senate Committee on Ways and Means
Tabs
Bill History Petitioners Committee Vote Committee Summary Primary Sponsor Summary
Bill History
Displaying 4 actions for Bill S.719
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Financial Services |
| 2/27/2025 | House | House concurred |
| 9/5/2025 | Joint | Hearing scheduled for 09/15/2025 from 10:30 AM-01:00 PM in A-1 |
| 1/8/2026 | Senate | Bill reported favorably by committee and referred to the committee on Senate Ways and Means |
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