H0655 — Condominium Windstorm Pilot Program

House Bill 655, filed in November 2023 and died in the Insurance & Banking Subcommittee on March 8, 2024, proposed establishment of a Condominium Windstorm Pilot Program administered by the Office of Insurance Regulation.

The bill would have required the Office of Insurance Regulation to establish a pilot program for condominium windstorm insurance. Participation would have required a majority vote of total voting interests of the condominium association. Insurance policies issued under the program would have been required to align with estimated reserves of the association. The Office of Insurance Regulation would have been authorized to collaborate with stakeholders to create educational materials related to the program.

Condominium associations meeting participation requirements established under the proposed program.

The bill died in the Insurance & Banking Subcommittee on March 8, 2024, and did not become law.