Pennsylvania Forms Flood Insurance Affordability Task Force

Pennsylvania has established a task force to recommend policies to make flood insurance more affordable.

The Flood Insurance Premium Assistance Task Force will examine potential programs that provide premium discounts, incentives for local governments to support flood mitigation efforts, necessary changes to state statute or policy regarding the administration of flood insurance, and how to increase the number of people who purchase flood insurance, either through the national flood insurance program or the private flood insurance marketplace.

Insurance Commissioner Mike Humphreys will chair the task force, which was established when Gov. Josh Shapiro signed HB 735 into law. The measure, sponsored by Rep. Perry Warren, passed the House and the Senate with bipartisan support after flooding impacted several Pennsylvania communities, including Bucks County, over the summer.

Shapiro said the task force will bring together leaders from his Administration and the Legislature to review the needs of communities that are at an increased risk of flooding and recommend the best courses of action to help increase the number of Pennsylvanians protected by flood insurance.

In recent years, the Federal Emergency Management Agency revised its flood maps, which require that flood insurance be obtained for more properties. As a result, flood insurance premiums are rising.

“After flooding disasters, PID hears devastating stories from residents who thought they were covered for flood through their homeowners’ insurance policy but were not. FEMA’s revised flood maps now require more Pennsylvania properties to hold flood insurance and many owners are struggling to meet that requirement,” said Pennsylvania Insurance Commissioner Michael Humphreys. “PID strongly encourages insurance agents to highlight the availability of flood coverage when meeting with clients to discuss new or renewal coverage – and we urge homeowners and renters to ask their insurance agents and insurance companies about flood coverage.”

Flood insurance has traditionally only been available to homeowners or renters through the National Flood Insurance Program (NFIP), but today there are more options for consumers to consider. Flood insurance is available through private insurers, including surplus lines insurers, and can be purchased through licensed property/casualty insurance agents in Pennsylvania to cover almost any building and its contents, including rental property and condominiums. Tenants can buy protection for their belongings as well.

Topics Flood Pennsylvania