An Act relative to an investigation to review flood insurance rates

This bill requires Massachusetts' insurance commissioner to conduct a biennial review of flood insurance rates under the National Flood Insurance Program. It directly affects homeowners and business owners in flood-prone areas by focusing the review on whether premiums are affordable, the program remains sustainable, and rates accurately reflect flood risk. The commissioner must publish each report publicly and submit it to both legislative chambers every two years. This creates a regular, transparent process for evaluating how well the federal flood insurance program serves Massachusetts residents.