Creates Joint Blue Ribbon Task Force on Impacts of Climate Change on Property Insurance.

Summary

The bill establishes a task force within the Department of Banking and Insurance, made up of state officials, legislators, private‑sector, nonprofit and academic representatives, to examine how climate change is affecting residential and commercial property insurance. It will analyze insurance affordability, uninsurable areas, subsidies, and related housing and real‑estate impacts, and must submit a report within one year, after which the task force will be dissolved. The goal is to help ensure that homeowners and businesses can obtain quality insurance despite growing climate risks.

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