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SRES 556
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A resolution recognizing that Florida's insurance market is gravely stressed by climate risks.

Recognizing that Florida's insurance market is gravely stressed by climate risks.

Introduced Dec 17, 2025

Latest action (Dec 17, 2025) Referred to the Committee on Banking, Housing, and Urban Affairs.

Referred to
Banking, Housing, and Urban Affairs Committee
Issues
Climate & Energy

Summary

SRES 556 is a Senate resolution recognizing stress in Florida's insurance market due to climate risks. The resolution notes that major insurers have left Florida following hurricane losses, leaving smaller and less stable insurers in the market, and that home insurance premiums in Florida are rising sharply. The resolution expresses concerns about the rating agency Demotech, which rates 98 percent of insurers as A or above despite those insurers being 30 times more likely to become insolvent than competitors. The resolution calls on Fannie Mae and Freddie Mac to scrutinize Demotech's rating practices and on the Treasury Department's insurance office to examine whether state-backed insurers of last resort may require federal bailouts.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
7 cosponsors

Actions (2)
  1. Dec 17, 2025 Referred to the Committee on Banking, Housing, and Urban Affairs. · senate
  2. Dec 17, 2025 Introduced in Senate

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • SRES 555 — A resolution recognizing that climate change poses a threat to the mortgage market and to home values. · Introduced Dec 17, 2025 · Cong. 119 66%
  • SRES 554 — A resolution recognizing the strong link between climate change and skyrocketing insurance premiums. · Introduced Dec 17, 2025 · Cong. 119 65%
  • SRES 557 — A resolution recognizing that climate change portends a cascade of financial market collapses that would destabilize the national and global economies. · Introduced Dec 17, 2025 · Cong. 119 64%
  • SRES 558 — A resolution recognizing that climate change-driven extreme weather events are increasing at the same time that the government is dismantling weather monitoring and alert systems. · Introduced Dec 17, 2025 · Cong. 119 60%
  • SRES 380 — A resolution urging the protection of Medicare from the devastating cuts caused by H.R. 1. · Introduced Sep 9, 2025 · Cong. 119 56%
  • SRES 741 — A resolution designating May 2026 as "National Wildfire Preparedness Month". · Passed Senate Jun 24, 2026 · Cong. 119 55%

Full text

IN THE SENATE OF THE UNITED STATES

December 17, 2025

Mr. Whitehouse (for himself, Mr. Merkley, Mr. Markey, Mr. Van Hollen, Ms. Duckworth, Mr. Padilla, Mr. Welch, and Ms. Blunt Rochester) submitted the following resolution; which was referred to the Committee on Banking, Housing, and Urban Affairs

RESOLUTION

Recognizing that Florida’s insurance market is gravely stressed by climate risks.

Whereas, as reported by Columbia Business School, because climate change is a “major risk” in Florida, many home insurers are at a high risk of insolvency; Whereas, following catastrophic hurricane losses, major insurers left the Florida market entirely, leaving small, local, and less stable insurers behind, many of which have already gone insolvent; Whereas only mortgages protected by home insurance from insurers with a high financial strength rating are eligible for the government mortgage- backed security program, which maintains liquidity in the mortgage market, and as a result of this, the United States housing market increasingly depends on the credibility of these ratings; Whereas an insurance rating agency called Demotech has become increasingly utilized by smaller home insurers in Florida; Whereas Demotech rates 98 percent of insurers “A” or above; Whereas insurers rated by Demotech are 30 times as likely to become insolvent as those graded by rival rating companies; Whereas, even when Florida homeowners are able to find a stable insurer, they are still forced to pay increasingly high home insurance premiums, now averaging $14,000 annually; Whereas the Florida Office of Insurance Regulation reports that home insurance rates in Florida have risen 34 percent since late 2022; Whereas Florida State law allows Citizens Property Insurance, the State-backed insurer of last resort, to levy a surcharge on all policyholders to recoup losses if its reserves fall short, levies that may be uncollectable in real life; and Whereas there are credible scenarios in which the losses of Citizens Property Insurance exceed its ability to pay claims: Now, therefore, be it Resolved, That the Senate calls on Fannie Mae and Freddie Mac to scrutinize Demotech’s rating practices and calls on the Treasury Department’s insurance office to examine the probability that State- backed insurers of last resort, including Florida’s, ask for a Federal bailout. <all>

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