The resolution emphasizes the critical importance of Alabama's coastal region to the state's economy, highlighting its role in attracting over 11 million visitors annually, generating nearly $10 billion in tourism spending, and supporting approximately 100,000 jobs. However, it also addresses the growing challenges related to the availability and affordability of commercial property insurance in these coastal areas, which threaten the resilience of local businesses and the overall economic security of the state. The resolution acknowledges the financial risks posed by catastrophic weather events, which could lead to significant tax revenue losses, and calls for continued exploration of state-level interventions to stabilize the insurance market.

To address these issues, the resolution proposes several measures, including the establishment of a state-supported reinsurance or risk pooling program, targeted tax credits for businesses investing in risk mitigation, and a review of insurance industry practices by the Governor and the Alabama Department of Insurance. It also suggests enhancing the coverage scope of the Alabama Insurance Underwriting Association's Wind Pool, strengthening construction standards in high-risk areas, and utilizing state-administered funds to support post-disaster recovery. The resolution concludes by expressing the Legislature's commitment to ongoing study and stakeholder engagement to ensure the long-term economic and insurance stability of coastal Alabama, and it calls for the Governor to extend the work of the Alabama Coastal Commercial Insurance Joint Interim Study Commission.