Directs the Department of Financial Services to study rising insurance costs, lack of flood insurance, and potential private flood insurance market.

The bill directs the Department of Financial Services to conduct a study on the increasing costs of property insurance premiums, the unavailability of insurance coverage for flood losses, and the potential for supporting a private flood insurance market in New York. The study will analyze factors contributing to rising insurance costs and limited coverage, identify potential impacts of legislative and regulatory actions, and explore the feasibility of a private flood insurance market.

Directs the Department of Financial Services to study rising insurance costs, lack of flood insurance, and potential private flood insurance market.

The bill directs the Department of Financial Services to conduct a study on the increasing costs of property insurance premiums, the unavailability of insurance coverage for flood losses, and the potential for supporting a private flood insurance market in New York. The study will analyze factors contributing to rising insurance costs and limited coverage, identify potential impacts of legislative and regulatory actions, and explore the feasibility of a private flood insurance market.