Higgins Reintroduces Bill to Enhance Homeowners Insurance Availability

WASHINGTON (February 7, 2025) – Congressman Clay Higgins (R-LA) introduced the Restoring Competitive Property Insurance Availability Act, which would enhance insurance availability for homeowners and business owners after a natural disaster.
 
“The American people have witnessed insurers terminate policies and abandon states before and after major disasters, leaving many with limited insurance options while destroying their financial security,” said Congressman Higgins. “My bill would incentivize property insurance providers with reduced tax burden to encourage them to remain after a natural disaster.”
 
According to a Senate Budget Report, Louisiana is one of the top 10 states with the highest non-renewal rates, and availability concerns are being experienced nationwide.
 
Congressman Higgins’ bill amends the U.S. tax code and allows insurers to deduct income made in a disaster area for five years after a federally declared disaster. This provision would take effect after a major disaster declaration and be limited to the impacted area. To qualify, insurers must have been located within the affected area and provided coverage prior to the disaster.
 
Read the legislation here.