HOUSE DOCKET, NO. 875        FILED ON: 1/15/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 905

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Bruce J. Ayers

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to an investigation to review flood insurance rates.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Bruce J. Ayers

1st Norfolk

1/15/2019

Joan Meschino

3rd Plymouth

1/31/2019


HOUSE DOCKET, NO. 875        FILED ON: 1/15/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 905

By Mr. Ayers of Quincy, a petition (accompanied by bill, House, No. 905) of Bruce J. Ayers and Joan Meschino that the Commissioner of the Division of Insurance be directed to make a bi-annual investigation relative to flood insurance rates.  Financial Services.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 498 OF 2017-2018.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-First General Court
(2019-2020)

_______________

 

An Act relative to an investigation to review flood insurance rates.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Section 102D of Chapter 175A of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by adding the following paragraph at the end thereof:–

The commissioner shall conduct a biennial investigation into flood insurance rates set by the national flood insurance program. The investigation shall focus on the affordability of flood insurance for home and business owners, the sustainability of the program, and whether the flood insurance premiums accurately reflect the risk of loss. The commissioner shall make each biennial report available to the public and submit the report to the clerks of the house of representatives and the senate.