Committee Advances Insurance Affordability Measures
At a glance
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The committee approved four insurance-related measures by 10-0 votes, including a proposal to establish an Office of Insurance Affordability and resolutions addressing property, automobile, and homeowners’ insurance costs.
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What this means
The committee advanced a proposal to create an Office of Insurance Affordability, but the minutes do not indicate that it has become law. It also approved resolutions calling for action on insurance costs, including protections for affordable housing, consumer information for automobile insurance, and a limit of 25% per year on homeowners’ insurance rate increases.
Key decisions
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- Approved Int. 0685-2026-B, establishing an Office of Insurance Affordability, by a 10-0 roll-call vote.
- Approved Res. 0387-2026, calling for state legislation to mitigate rising property-insurance costs for affordable housing, by a 10-0 vote.
- Approved amended Res. 0389-2026-A, calling for passage of the Automobile Insurance Consumer Information Act, by a 10-0 vote.
- Approved Res. 0395-2026, calling for legislation prohibiting homeowners’ insurance rate increases above 25% per year, by a 10-0 vote.
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