HJR425 Alabama 2010 Session

Summary

Primary Sponsor

Joseph C. Mitchell

Democrat

Co-Sponsors

Steve McMillanJamie IsonJim BartonSteve ClouseBarry MaskDavid GrimesPhil WilliamsGreg WrenSpencer CollierAlan BootheAlan BakerChad FincherJoe FaustJames O. GordonYvonne KennedyThomas JacksonLesley VanceJames E. BuskeySeth HammettRandy DavisVictor GastonJimmy MartinHarry ShiverBenjamin H. Lewis

Session

Regular Session 2010

Title

U. S. Congress urged to approve H.R. 1264, the Multiple Peril Insurance Act of 2009

Summary

Alabama's House urges Congress to approve H.R.1264, the Multiple Peril Insurance Act of 2009, which would allow wind and flood insurance to be sold together in one policy.

What This Bill Does

If passed, it would amend the National Flood Insurance Program to permit a combined wind and flood insurance policy. Premiums would be risk-based and actuarially sound, with the bill considered budget neutral. It would provide for prompt and full payment for wind and water damage and encourage insurance companies to return to coastal markets.

Who It Affects

• Coastal homeowners in Alabama and other coastal states would have access to a combined wind and flood policy, potentially improving affordability and coverage.
• Insurance companies and the insurance market, which may be more inclined to offer or re-enter coastal areas due to the new policy option.
• Taxpayers and the government, who would benefit from reduced reliance on government disaster aid and a budget-neutral approach.

Key Provisions

• Amends the National Flood Insurance Program to allow a single policy that combines wind and flood insurance.
• Requires premiums to be risk-based and actuarially sound; the Congressional Budget Office rates the bill as budget neutral.
• Provides for prompt and full payment for wind and water damage under the policy.
• Encourages insurance companies to return to coastal areas, improving access to coverage for coastal residents.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Resolutions, Legislative