A resolution recognizing that Florida's insurance market is gravely stressed by climate risks.

This Senate resolution states that Florida's home insurance market is under strain from climate risks. It lists findings, including that major insurers have left the state, that many smaller insurers have become insolvent, and that average premiums have risen. It states that insurers rated by the agency Demotech are more likely to become insolvent than those rated by other companies. The resolution calls on Fannie Mae and Freddie Mac to review Demotech's rating practices. It also calls on the Treasury Department's insurance office to examine how likely it is that state-backed insurers of last resort, including Florida's, will ask for a federal bailout.

Full text and official record on Congress.gov

Sponsors

• Sheldon Whitehouse Democrat sponsor
• 7 cosponsors