SJR77 Alabama 2024 Session

Summary

Primary Sponsor

Chris ElliottSenator

Republican

Session

Regular Session 2024

Title

The Alabama Coastal Insurance Joint Interim Study Commission, created

Summary

The bill creates a temporary Alabama Coastal Commercial Insurance Joint Interim Study Commission to study wind insurance costs, availability, and potential programs for coastal commercial and multifamily properties and report findings by January 1, 2025.

What This Bill Does

It establishes a multi-member commission with specific state official, legislative, and university representation to review current wind insurance conditions for coastal properties. The commission will compare Alabama’s wind coverage pricing to neighboring states, analyze financial risks if underinsurance continues, explore alternatives to wind coverage, and assess how any proposed programs could be sustained. It requires staff support, outlines compensation for lawmakers, and directs the commission to report its findings and any proposed legislation to the Legislature by January 1, 2025, after which the commission dissolves.

Who It Affects

• Coastal commercial and multifamily property owners — could be affected by future programs or policies the commission recommends to reduce insurance costs or risk exposure while staying financially sustainable.
• Alabama state government, coastal communities, and the broader economy — the study involves state agencies and lawmakers and could influence state policy and financial risk management related to wind insurance after storms.

Key Provisions

• Creates the Alabama Coastal Commercial Insurance Joint Interim Study Commission to examine wind insurance costs, availability, and related programs for coastal commercial and multifamily properties.
• Defines membership including the Insurance Commissioner, State Finance Director, legislators from Baldwin or Mobile counties, chairs of the Senate Banking & Insurance and House Insurance Committees, chairs of selected Senate Finance and Taxation and House Ways & Means committees, and a UA Center for Risk and Insurance Research representative; requires diverse representation.
• Requires cochairs (chairs of the Senate Banking & Insurance Committee and the House Insurance Committee) and establishes meeting procedures and notice requirements.
• Tasks the commission to: compare Alabama’s wind coverage pricing with surrounding states; analyze fiscal impacts of underinsurance; review alternative coverage options; and assess the ability to sustain proposed programs.
• Provides staff support from the Secretary of the Senate and the Legislative Services Agency; outlines compensation for legislative members and reimbursement for other members.
• Requires the commission to report its findings and any proposed legislation to the Legislature by January 1, 2025 and to dissolve after fulfilling this duty, with a notice requirement to the Secretary of State for meetings and final documents.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Resolutions