Establishes a task force to study climate change impacts on property insurance.
Establishes the Joint Blue Ribbon Task Force on Impacts of Climate Change on Property Insurance within the Department of Banking and Insurance. The task force will analyze how climate change affects property insurance, including affordability, availability, and risk factors. It will also evaluate how state and federal programs, insurance industry practices, and data availability impact insurance costs and coverage. The task force will submit a report with findings and recommendations to the Governor and the Legislature within one year of its formation.
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