Flood Disclosure Adjustment Continues to Move
A second Senate committee has approved an adjusting to existing law relating to flood insurance disclosures. Last year, the legislature adopted a requirement for all homeowners’ policies to state that they do not cover flood damage. Unfortunately, there is no exception in the current law for policies that actually do contain flood insurance in the base policy or through an endorsement. This year’s bill would adjust the disclosure requirement to eliminate the potentially confusing disclosure on policies that contain flood coverage.
Thus far, no concerns have arisen with the proposed fix. The Senate bill and a companion bill in the House continue to move through the process.