Sec. 11. Wildfire insurance study by the national academies

309 words·~1 min read·/bill/117/s/3092/rs/section-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Not later than 180 days after the date of enactment of this Act, the Administrator shall seek to enter into an agreement with the National Academy of Sciences to conduct a study of— potential solutions to address the availability and affordability of insurance for wildfire perils in all regions of the United States, including consideration of a national all natural hazards insurance program; the ability of States, communities, and individuals to mitigate wildfire risks, including the affordability and feasibility of such mitigation activities; the current and potential future effects of land use policies and building codes on the potential solutions; the reasons why many properties at risk of wildfire lack insurance coverage; the role of insurers in providing incentives for wildfire risk mitigation efforts; the state of catastrophic insurance and reinsurance markets and the approaches in providing insurance protection to different sectors of the population of the United States; the role of the Federal Government and State and local governments in providing incentives for feasible wildfire risk mitigation efforts and the cost of providing assistance in the absence of insurance; the state of modeling and mapping wildfire risk and solutions for accurately and adequately identifying future wildfire risk; approaches to insuring wildfire risk in the United States; and such other issues that may be necessary or appropriate for the report.

The agreement to conduct the study described in subsection (a), shall require that, in conducting the study, the National Academy of Sciences shall consult with State insurance regulators, consumer organizations, representatives of the insurance and reinsurance industry, policyholders, and other organizations and experts, as appropriate. Not later than 2 years after the date of enactment of this Act, the Administrator shall submit to Congress the results of the study commissioned under subsection (a).

There are authorized to be appropriated such sums as are necessary to carry out this section.