SB 1140: RELATING TO INSURANCE OF LAST RESORT.
- Session Year: 2025-2026
- House: Senate
- Latest Version Date: 2025-02-07
Current Status:
In Progress
(2025-12-08: Carried over to 2026 Regular Session.)
Introduced
In Committee
First Chamber
In Committee
Second Chamber
Final Decking
Enacted
Version:
Establishes the Fair Access to Insurance Requirements (FAIR) Program, which shall be established in and administered by the Department of Commerce and Consumer Affairs to ensure that residents in high‑risk areas can purchase affordable and comprehensive property insurance coverage for their residential properties. Authorizes the Director of Commerce and Consumer Affairs to issue revenue bonds in amounts authorized by the Legislature, in which case the Premium Stabilization Fund shall be established by the Director. Effective 7/1/2050. (SD1)