Flood History Information Act of 2026 | ChamberLight
Bills · HR 7355
IN COMMITTEE· 119TH CONGRESS
House BillHR 7355Finance and Financial Sector
Flood History Information Act of 2026
INTRO FEB 4· LAST ACTION FEB 4
READING
4MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8
Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-written
This bill matters because it aims to provide more transparency about flood risk, which is becoming increasingly important as climate change impacts weather patterns. If this bill becomes law, consumers will have a clearer picture of a property's flood history before making a significant investment, potentially preventing unexpected costs and promoting safer housing choices. This could lead to more accurate property valuations and better negotiating positions for buyers and renters, as current owners would no longer be the sole source of flood history information.
For the insurance market, more comprehensive data could lead to more accurate and potentially fairer flood insurance premiums. Currently, private insurers often rely on limited data to assess risk, but access to federal flood insurance claims could improve their models. This could stimulate the private flood insurance market and potentially reduce reliance on the federal program. Without this bill, flood history information would remain less accessible, making it harder for consumers to make informed decisions and for the private insurance market to fully develop competitive options based on complete risk assessments.
KEY PROVISIONS
5AI-extracted
PROVISION 01
Establishes a data exchange program allowing the federal agency to share flood insurance policy and claims information with private insurance companies.
This provision enables private insurers to better assess flood risk and potentially offer more accurate or competitive policies.
PROVISION 02
Requires private insurance companies to use shared data only for underwriting, rate setting, and claims adjustment, strictly prohibiting its use for marketing.
This protects consumers by ensuring their personal flood data is used responsibly and not for unsolicited sales pitches.
PROVISION 03
Mandates that private insurance companies must also share their flood policy and claims data with the federal agency as part of the data exchange agreement.
This creates a two-way data flow, enriching the overall dataset for both public and private sector flood risk management.
PROVISION 04
Allows current owners, potential buyers, or renters to directly request a property's flood claim history from the federal government, including claims from both federal and private policies.
This empowers individuals with critical information to make informed decisions when buying or leasing property, promoting transparency in real estate transactions.
PROVISION 05
Authorizes the federal agency to charge a fee to participating insurance companies for data access but prohibits charging fees to individuals requesting property information.
This funds the data exchange program while ensuring that critical flood risk information remains freely accessible to the public.
This bill matters because it aims to provide more transparency about flood risk, which is becoming increasingly important as climate change impacts weather patterns. If this bill becomes law, consumers will have a clearer picture of a property's flood history before making a significant investment, potentially preventing unexpected costs and promoting safer housing choices. This could lead to more accurate property valuations and better negotiating positions for buyers and renters, as current owners would no longer be the sole source of flood history information.
For the insurance market, more comprehensive data could lead to more accurate and potentially fairer flood insurance premiums. Currently, private insurers often rely on limited data to assess risk, but access to federal flood insurance claims could improve their models. This could stimulate the private flood insurance market and potentially reduce reliance on the federal program. Without this bill, flood history information would remain less accessible, making it harder for consumers to make informed decisions and for the private insurance market to fully develop competitive options based on complete risk assessments.
KEY PROVISIONS
AI-extracted
high
Establishes a data exchange program allowing the federal agency to share flood insurance policy and claims information with private insurance companies.
This provision enables private insurers to better assess flood risk and potentially offer more accurate or competitive policies.
med
Requires private insurance companies to use shared data only for underwriting, rate setting, and claims adjustment, strictly prohibiting its use for marketing.
This protects consumers by ensuring their personal flood data is used responsibly and not for unsolicited sales pitches.
med
Mandates that private insurance companies must also share their flood policy and claims data with the federal agency as part of the data exchange agreement.
This creates a two-way data flow, enriching the overall dataset for both public and private sector flood risk management.
high
Allows current owners, potential buyers, or renters to directly request a property's flood claim history from the federal government, including claims from both federal and private policies.
This empowers individuals with critical information to make informed decisions when buying or leasing property, promoting transparency in real estate transactions.
med
Authorizes the federal agency to charge a fee to participating insurance companies for data access but prohibits charging fees to individuals requesting property information.
This funds the data exchange program while ensuring that critical flood risk information remains freely accessible to the public.
GLOSSARY
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Administrator
The head of the Federal Emergency Management Agency (FEMA), which manages the National Flood Insurance Program.
National Flood Insurance Program (NFIP)
A federal program managed by FEMA that offers flood insurance to homeowners, renters, and business owners in communities that participate in the program.
Policy and claims information
Details about a flood insurance policy (like coverage amount) and records of past claims filed (like dates of loss and payout amounts).
Data sharing agreement
A formal contract outlining the terms and conditions under which data can be exchanged between two parties, such as the federal agency and a private insurance company.
Underwriting
The process an insurance company uses to evaluate the risk of insuring a particular person or property, deciding whether to provide coverage and at what cost.
Routine use
A term under the Privacy Act that allows federal agencies to disclose records for purposes that are compatible with the reason the information was collected in the first place, without requiring individual consent.
Insured property
ACTION TIMELINE
2 EVENTS
FEB 4
Introduced in House
INTROREFERRAL
FEB 4
Referred to the House Committee on Financial Services.
