HJR291 Alabama 2024 Session

Summary

Primary Sponsor

Frances Holk-JonesRepresentative

Republican

Session

Regular Session 2024

Title

Alabama Coastal Insurance Joint Interim Study Commission, created

Summary

HJR291 creates the Alabama Coastal Commercial Insurance Joint Interim Study Commission to study wind insurance costs, availability, and potential sustainable relief programs for coastal commercial and multifamily properties, with findings due by January 1, 2025.

What This Bill Does

The bill establishes a study commission to examine current wind insurance costs and availability for coastal commercial and multifamily properties, review existing programs and other potential options, and assess sustainability. It requires comparing Alabama’s wind coverage pricing with nearby southeastern states, analyzing the financial impact of underinsurance, and evaluating alternatives and the state's ability to support any proposed programs. The commission must report its findings and any proposed legislation to the Legislature by January 1, 2025, after which the commission will be dissolved; staff support will be provided by the Clerk of the House and the Legislative Services Agency, and certain members may receive compensation or reimbursement as allowed.

Who It Affects

• Coastal commercial and multifamily property owners and managers in Alabama, whose wind insurance costs, coverage options, and any potential relief programs are the focus of the study.
• Alabama residents, the state's economy, insurance industry stakeholders, regulators, and policymakers, who could be affected by future insurance programs, pricing changes, and regulatory decisions depending on the commission's findings.

Key Provisions

• Creates the Alabama Coastal Commercial Insurance Joint Interim Study Commission to study wind insurance for coastal commercial and multifamily properties and related programs.
• Defines membership including state officials, legislators from Baldwin/Mobile counties, chairs of key committees, University of Alabama risk research representatives, and two property/casualty industry reps (one domestic insurer).
• Requires appointment authorities to ensure diverse representation across race, gender, geography, urban/rural status, and economic background.
• Designates the Senate Banking and Insurance Chair and the House Insurance Chair as cochairs of the commission.
• Charges the commission with reviewing current wind insurance availability, comparing pricing with neighboring states, analyzing the fiscal impact of underinsurance, and examining alternatives and sustainability of proposed programs.
• Provides staff support from the Clerk of the House and Legislative Services Agency; allows per diem/compensation for legislative members and expense reimbursement for others per their authorities’ policies.
• Requires the commission to report findings and any proposed legislation to the Legislature by January 1, 2025, at which point the commission is dissolved.
• Requires notice of meetings to be provided to the Secretary of State and allows collection and dissemination of final reports and documents produced during the commission.

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