Rhode Island Senate Bill S0604

Rhode Island 2025 Regular Session

• Introduced: 3/6/25
• Refer: 3/6/25

Caption

Provides a framework through which the department of business regulation can seek grants to fund a home hardening program.

Impact

The bill expands the existing Rhode Island Property and Casualty Insurance Guaranty Association by increasing the payout limits for claims related to property loss. Up to one million dollars will be available for first-party property claims from a single occurrence under certain policies, which significantly enhances the financial protection available to homeowners facing the risk of insurer insolvency due to catastrophic events. Additionally, the program will emphasize long-term resilience and risk mitigation strategies, particularly for vulnerable populations and areas prone to natural disasters.

Summary

Bill S0604, titled 'An Act Relating to Insurance - Rhode Island Property and Casualty Insurance Guaranty Association', establishes the 'Strengthen Rhody Homes' program. This proposed legislation is designed to facilitate a home hardening initiative, providing a system through which the Rhode Island Department of Business Regulation can acquire grant funding to enhance the resilience of residential properties against hurricanes and other catastrophic weather events. It aims to support homeowners in retrofitting their properties to reduce risks associated with severe weather conditions.

Contention

While the introduction of this act is largely seen as a positive step towards improving home safety and resilience, there may be points of contention regarding funding and eligibility requirements. The bill specifies that grants cannot be utilized for routine maintenance and repair work unless necessitated by disaster damage, potentially limiting accessibility for some homeowners. Furthermore, the involvement of approved evaluators and contractors introduces additional layers of oversight that may be viewed as burdensome by participants in the program. Some stakeholders may advocate for broader eligibility criteria or expanded funding sources to increase accessibility for low-income applicants.