House Concurrent Resolution No. 16, introduced by the Health and Welfare Committee, addresses the challenges facing the property insurance market in Idaho following significant wildfires in 2024 that burned nearly a million acres and destroyed numerous structures, including homes. The resolution highlights the tightening of the property insurance market, with many insurance companies withdrawing from certain areas, increasing rates, and leaving homeowners, particularly in rural regions, struggling to find coverage. It also notes the rising costs of home repairs, inflation, and reinsurance, which have further complicated the situation and led to a reliance on non-admitted markets that lack consumer protections.

To address these issues, the resolution authorizes the Legislative Council to appoint a committee tasked with studying the property insurance market in Idaho. This committee will consist of legislators and may include non-legislative members who can provide input but will not have voting rights. The committee is expected to explore strategies to stabilize the market and develop approaches to make property insurance more accessible and affordable for all Idahoans. It is required to report its findings and any proposed legislation to the Second Regular Session of the Sixty-eighth Idaho Legislature.