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S2430119th Congress

Wildfire Insurance Coverage Study Act of 2025

Sponsored By: Senator Heinrich, Martin [D-NM]

Introduced

Summary

A federal study of wildfire insurance coverage and risk. This bill would direct the Comptroller General to conduct a wide-ranging review and deliver a report to Congress within 1 year that maps wildfire risk and examines how insurance markets and regulators handle wildfire losses.

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  • Homeowners and commercial property owners: The study would look at insurer actions over the past 10 years on rate increases, non-renewals, exclusions, and coverage conditioned on mitigation. It could clarify where coverage is shrinking or becoming more expensive.
  • State insurance regulators: The report would analyze state tools such as rate oversight, moratoria, residual market entities, reinsurance programs, and premium subsidies to see which actions affect availability and affordability.
  • Insurers and underwriters: The study would probe underwriting challenges like correlated risks, modeling limits, insolvency risk, and the role of reinsurance and risk sharing in keeping coverage available.
  • Policymakers and communities: The review would assess mitigation practices, the need for a national wildfire-risk map, and policy options from relocation to means-tested premium assistance.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Heinrich, Martin [D-NM]

NM • D

Cosponsors

  • Sen. Sheehy, Tim [R-MT]

    MT • R

    Sponsored 7/24/2025

Roll Call Votes

No roll call votes available for this bill.

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