Assembly Bill A3793

2025-2026 Legislative Session

Directs the department of financial services to conduct a study examining private flood insurance

download bill text pdf

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Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2025-A3793 (ACTIVE) - Details

See Senate Version of this Bill:
S5325
Current Committee:
Assembly Insurance
Law Section:
Financial Services
Versions Introduced in 2023-2024 Legislative Session:
A8942, S8167

2025-A3793 (ACTIVE) - Summary

Directs the department of financial services to conduct a study examining the increasing costs of insurance premiums, the lack of availability of insurance coverage for losses from flooding, and the possibility of supporting a private flood insurance market in the state.

2025-A3793 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3793
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 30, 2025
                                ___________
 
 Introduced  by  M. of A. WEPRIN, COLTON -- read once and referred to the
   Committee on Insurance
 
 AN ACT in relation to directing the department of financial services  to
   conduct  a study examining the increasing costs of insurance premiums,
   the lack of availability of insurance coverage for losses from  flood-
   ing,  and  the  possibility  of  supporting  a private flood insurance
   market in the state
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The department of financial services shall conduct a study
 to examine any increases in property insurance premiums that may  affect
 affordability  of  property insurance coverage, any lack of availability
 of property insurance coverage for losses  from  flooding  in  New  York
 state,  and  the  possibility  of  supporting  a private flood insurance
 market in the state. Such department shall:
   (a) analyze any factors that have increased property  insurance  costs
 for  such losses from flooding and analyze any factors that have limited
 insurers from property insurance coverage for losses from flooding;
   (b) identify the potential impact, over the next  ten  years,  of  the
 cost  of property insurance and the unavailability of property insurance
 coverage for losses from flooding and any other topic or issue  that  is
 determined  to be relevant to the completion of the study by the depart-
 ment; and
   (c) analyze the possibility of supporting a  private  flood  insurance
 market  in  the  state  as  a  supplement to the existing National Flood
 Insurance Program.
   § 2. The department of financial services shall prepare a report which
 shall be submitted to the  governor,  the  temporary  president  of  the
 senate,  the  speaker of the assembly, the minority leader of the senate
 and the minority leader of the assembly, within eleven months after  the
 effective  date of this act, containing findings and recommendations for

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07797-01-5

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