An Act relative to private flood insurance
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to improve private flood insurance options in Massachusetts. It seeks to establish a framework for private flood insurance coverage and to address concerns about rates and accessibility. The legislation intends to promote competition and potentially offer more affordable flood insurance choices for residents and businesses. It builds upon previous efforts to investigate and reform flood insurance policies within the state.
Key provisions
- Establishes guidelines for private flood insurance coverage.
- Addresses concerns regarding flood insurance rates.
- Aims to increase competition among flood insurance providers.
- Supports the development of a more accessible flood insurance market.
- Builds upon prior investigations into flood insurance rates.
Who is affected
- Homeowners
- Businesses
- Flood insurance consumers
- Flood insurance providers
- Massachusetts residents
Notable changes
- The bill seeks to expand options beyond the National Flood Insurance Program (NFIP).
- It could lead to changes in how flood insurance rates are determined.
- It is part of a series of past legislative efforts to reform flood insurance.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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