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 resulted in extensive property damage. The resolution highlights the tightening of the insurance market, with numerous companies withdrawing from certain areas, increasing rates for homeowners, and difficulties in accessing coverage, particularly in rural regions. It also notes the rising costs of home repairs and reinsurance, which have further strained the market and led some consumers to seek coverage in less regulated non-admitted markets.

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.