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MA H810

MA H810
Relative to an investigation to review flood insurance rates


summary

Introduced
01/20/2015
In Committee
01/20/2015
Crossed Over
Passed
Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

Relative to flood insurance rates. Financial Services.

AI Summary

This bill mandates that the commissioner, who is a state official responsible for overseeing insurance, will conduct an investigation every two years to examine how flood insurance rates are determined by the National Flood Insurance program, a federal initiative providing flood coverage. The purpose of this investigation is to identify any excessive rates and to propose changes to make them more reasonable, with the findings being used to inform suggestions for action by Congress and the Federal Emergency Management Agency (FEMA), a government agency responsible for disaster response and preparedness. This regular review aims to help the commissioner identify any unfair price increases or "surcharges" applied by insurance companies that participate in the flood insurance program, especially after natural disasters, and to ensure that flood risk area designations are accurately made according to FEMA's current standards.

Committee Categories

Business and Industry

Sponsors (50)

James Cantwell (D)* Leah Allen (R),  Jim Arciero (D),  Brian Ashe (D),  Cory Atkins (D),  Bruce Ayers (D),  Garrett Bradley (D),  Thomas Calter (D),  Tackey Chan (D),  Edward Coppinger (D),  Brendan Crighton (D),  Josh Cutler (D),  Viriato deMacedo (R),  Marcos Devers (D),  Diana Dizoglio (D),  Shawn Dooley (R),  Carolyn Dykema (D),  Lori Ehrlich (D),  Jennifer Flanagan (D),  Colleen Garry (D),  Susan Gifford (R),  Ken Gordon (D),  Pat Haddad (D),  Robert Hedlund (R),  Paul Heroux (D),  John Keenan (D),  John Keenan (D),  Kay Khan (D),  Robert Koczera (D),  Barbara L'Italien (D),  John Lawn (D),  Jason Lewis (D),  Jay Livingstone (D),  Timothy Madden (D),  Thomas McGee (D),  Paul McMurtry (D),  Mike Moore (D),  Frank Moran (D),  Matt Muratore (R),  James Murphy (D),  Kathleen O'Connor Ives (D),  Sarah Peake (D),  Angelo Puppolo (D),  Dennis Rosa (D),  Bill Straus (D),  Bruce Tarr (R),  Walter Timilty (D),  Dave Vieira (R),  RoseLee Vincent (D),  Timothy Whelan (R), 

Last Action

Accompanied a study order, see H4621 (on 09/22/2016)

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