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Senator plans resiliency building bill, seeks expert testimony as property-insurance costs rise
Summary
Senator Boyd said she is drafting resiliency legislation aimed at reducing storm damage to homes and asked the Insurance Commissioner to help schedule experts; the committee discussed bringing witnesses the week of Feb. 10 to inform a forthcoming bill.
Senator Boyd told the Senate Insurance & Commerce Committee she is drafting legislation to promote residential building resiliency and requested expert testimony to brief the committee before she files the bill.
"I'm working on some resiliency legislation... I plan to file it soon and then run it when I have some people here who can help us understand what's happened in other states," Boyd said. The committee discussed scheduling an expert who would travel from Kansas City; the department indicated the expert had limited blackout dates but was generally flexible about a presentation in mid-February.
Committee members linked the planned bill to rising property and casualty insurance costs. Senator Boyd said Arkansas faces increasing storm risk and that resiliency measures used in other states could help stabilize premiums. "Arkansas is the only state that's 100% in tornado alley now," a committee member said in describing prior testimony before the legislature, and Boyd cited property insurers' previous remarks about the state's exposure.
The committee asked staff to coordinate with the department to set a date; the department suggested targeting the week of Feb. 10 to allow travel arrangements. The chair said he will consult with members and try to schedule the presentation. Committee members said outside expertise will help lawmakers evaluate policy options to reduce damage and insurance losses before formal legislation is filed.
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