Sponsors (8)
The resolution raises federal attention and may spur oversight or reforms to protect Florida homeowners and the housing market, but it also underscores risks that could lead to higher premiums, tighter mortgage access, and potential costs to taxpayers.
Florida homeowners receive clearer federal attention to insurance market instability, increasing the likelihood of policy responses to protect coverage and mortgage eligibility.
Homeowners and financial institutions benefit from spotlighting potential regulatory gaps around rating agencies (e.g., Demotech), which could prompt oversight and reforms to protect consumers and the housing market.
Homeowners and taxpayers gain awareness that the state insurer-of-last-resort (Citizens) could be overwhelmed, supporting consideration of reforms to limit cross-surcharges on policyholders and reduce systemic risk.
Florida homeowners may face higher premiums or special surcharges if Citizens insolvency risks materialize, increasing housing costs and financial strain.
Florida homebuyers and borrowers could see reduced mortgage eligibility or higher borrowing costs due to continued reliance on potentially unreliable insurer ratings.
Taxpayers and financial institutions could face added strain if highlighted insurer failures trigger state interventions or financial support to stabilize the market.
Based on analysis of 2 sections of legislative text.
Records findings that Florida's homeowners insurance market faces elevated insolvency risk and that some rating practices (notably Demotech) may understate that risk, threatening homeowners, insurers, and mortgage markets.
Introduced December 17, 2025 by Sheldon Whitehouse · Last progress December 17, 2025
Expresses findings that Florida’s homeowners insurance market is under elevated risk of insurer insolvency, in part because climate change and catastrophic hurricanes have driven large insurers out of the state and left smaller, less-stable companies. Raises concern that mortgage programs require high-rated insurers, that rating firms like Demotech often give high ratings to many small Florida carriers despite higher reported insolvency risk, and that these dynamics may threaten homeowners, the state-backed insurer Citizens, mortgage markets, and taxpayers.