# 119-sres-556: A resolution recognizing that Florida's insurance market is gravely stressed by climate risks.

119-sres-556, A resolution recognizing that Florida's insurance market is gravely stressed by climate risks., is a 119th Congress bill sponsored by Sen. Whitehouse, Sheldon [D-RI] (D-RI); status introduced (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-sres-556
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-sres-556
- Congress: 119
- Title: A resolution recognizing that Florida's insurance market is gravely stressed by climate risks.
- Status: introduced
- Introduced: 2025-12-17
- Sponsor: Sen. Whitehouse, Sheldon [D-RI] (D-RI)
- Cosponsors: 7
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2026-04-21

## Summary

**Climate-driven insurer insolvency is putting Florida homeowners and the mortgage market at risk.** This resolution would press Fannie Mae and Freddie Mac to review Demotech's rating practices and ask the Treasury Department's insurance office to study whether state-backed insurers might need a federal bailout. - Homeowners: Many large insurers left after catastrophic hurricanes, leaving smaller, less stable companies. Florida premiums now average $14,000 a year, and rates have risen 34% since late 2022. - Housing market and mortgage holders: Only mortgages insured by companies with high financial strength ratings qualify for government mortgage-backed security programs, so the housing market increasingly depends on rating credibility. Demotech rates 98% of insurers "A" or above, and insurers it rates are 30 times as likely to become insolvent as those rated by rival firms. - State backstops and taxpayers: Florida's state-backed insurer, Citizens Property Insurance, can levy surcharges on policyholders to recoup losses, but such levies may be uncollectible, and there are scenarios where Citizens' losses could exceed its ability to pay claims.

## Cosponsors (7)

- Sen. Merkley, Jeff [D-OR] (D-OR), 2025-12-17T00:00:00.000Z
- Sen. Markey, Edward J. [D-MA] (D-MA), 2025-12-17T00:00:00.000Z
- Sen. Van Hollen, Chris [D-MD] (D-MD), 2025-12-17T00:00:00.000Z
- Sen. Duckworth, Tammy [D-IL] (D-IL), 2025-12-17T00:00:00.000Z
- Sen. Padilla, Alex [D-CA] (D-CA), 2025-12-17T00:00:00.000Z
- Sen. Welch, Peter [D-VT] (D-VT), 2025-12-17T00:00:00.000Z
- Sen. Blunt Rochester, Lisa [D-DE] (D-DE), 2025-12-17T00:00:00.000Z

## Related bills

- 119-s-5066: Health Equity and Accountability Act of 2026
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026

## Sources
- [119-sres-556 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-resolution/556)

## Related
- [119-s-5066: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-s-5066)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-sres-556 (as of 2026-04-21).