The Alabama Legislature has established the Alabama Coastal Commercial Insurance Joint Interim Study Commission in response to the significant rise in wind insurance costs for coastal commercial and multifamily properties over the past two years. This increase has led to many properties becoming underinsured or uninsured, which poses a risk to the state's economy, especially following severe storms. The commission's purpose is to evaluate the current risk exposure, explore potential relief programs for rising insurance costs, and ensure the sustainability of any proposed solutions.

The commission will consist of various members, including state officials, legislative representatives from Baldwin and Mobile Counties, and industry experts. It will conduct a thorough review of the availability and pricing of wind insurance in Alabama compared to neighboring states, analyze the fiscal implications of inadequate coverage, and investigate alternative risk reduction strategies. The commission is required to report its findings and any proposed legislation to the Legislature by January 1, 2025, after which it will be dissolved.