H.R. 7355: Flood History Information Act of 2026

This bill, known as the Flood History Information Act of 2026, aims to improve the sharing and transparency of flood insurance information related to properties in the United States. Here is a breakdown of what the bill proposes:

Data Exchange Program

The bill requires the Administrator of the National Flood Insurance Program (NFIP) to set up a program that allows insurance companies to access certain policy and claims data related to flood insurance. This data sharing is contingent on the insurance companies entering into a data sharing agreement with the Administrator. The information that may be shared includes:

• The location of the property (address and coordinates)
• The amount of coverage in force
• Dates of loss for claims
• The amounts paid on claims
• Any additional claims and policy information deemed appropriate by the Administrator

Terms of Data Sharing Agreement

Insurance companies that participate in the data exchange must follow specific terms outlined in the agreement, which would include:

• Using the shared information solely for underwriting, establishing premium rates, and adjusting claims.
• Not using the information for marketing purposes.
• Providing their own policy and claims data to the Administrator.

Access to Flood Insurance Information

The bill gives current property owners, purchasers, or lessees the right to request information about flooding claims associated with a property. This information includes:

• The number and dollar value of claims filed for the property
• Information about whether the property owner may need to purchase flood insurance due to previous federal disaster assistance
• Any other relevant information that characterizes the flood risk of the property

Privacy Protection

The bill ensures that the sharing of information aligns with privacy regulations and defines the sharing of data as a routine use for official purposes, protecting the interests of those involved.

Fees for Participating Companies

The Administrator may charge a fee to participating insurance companies as part of implementing the data sharing program. However, no fees will be charged to individuals requesting flood insurance information.

Definitions

Specific terms are defined in the bill, including what constitutes an 'insurance company', 'lessee', and 'purchaser' to ensure clarity in the context of the legislation.

Relevant Companies

None found