The bill introduces several amendments to Massachusetts insurance regulations, particularly focusing on home insurance policies and their deductibles. It mandates that insurers provide clear disclosures regarding mandatory wind deductibles before consumers purchase coverage, especially in coastal areas where such deductibles are more common. Additionally, the bill encourages insurance companies to offer premium credits or reduced deductibles for homeowners who implement mitigation measures against wind damage. It also addresses flood insurance, emphasizing the importance of the National Flood Insurance Program (NFIP) and the need for increased awareness among homeowners about flood risks, particularly in high-risk areas where many remain uninsured. Furthermore, the bill mandates the inclusion of new data categories in the Massachusetts Division of Insurance Annual Home Insurance Report for Calendar Year 2023, specifically Aggregate Cancellation/Nonrenewal Data for Urban/Coastal Areas and Cancellations for Urban/Coastal Areas. This data will detail the number of policies canceled and nonrenewed, distinguishing between policyholder-initiated and insurer-initiated actions, and will provide insights into claims history for both renewed and nonrenewed policies. The report aims to enhance transparency and inform future regulatory decisions by analyzing claims filed and the dollar value of claims paid over the past three years, ultimately promoting stability and accessibility in the home insurance market in Massachusetts.