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Increased Competition in Private Flood Insurance Market

This bill aims to increase the availability of private flood insurance by allowing companies to offer products that compete with the national program. This could give citizens more choices and potentially better insurance terms, impacting their finances and property security.
Key points
Insurance companies can sell private flood insurance without restrictions, even if they participate in the national program.
Competition in the flood insurance market will increase, potentially leading to better offers for citizens.
Citizens will have more options for flood protection beyond the national insurance program.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_5608
Sponsor: Rep. Steube, W. Gregory [R-FL-17]
Process start date: 2025-09-26
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To ensure that Write Your Own companies can sell private flood insurance products that compete with National Flood Insurance Program products.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_5608.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-09-26.

What are the main provisions?

Key points include:

  • Insurance companies can sell private flood insurance without restrictions, even if they participate in the national program.
  • Competition in the flood insurance market will increase, potentially leading to better offers for citizens.
  • Citizens will have more options for flood protection beyond the national insurance program.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Steube, W. Gregory [R-FL-17].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Real Estate Economy