The proposed bill amends Title 40 of the Pennsylvania Consolidated Statutes by adding a new chapter, Chapter 52, which focuses on flood insurance notification. The chapter outlines the responsibilities of insurers and the Insurance Department regarding the provision of information about flood insurance to individuals purchasing or renewing homeowner's insurance policies. Insurers are required to provide written notice about the availability and cost of flood insurance at the time of policy issuance or renewal, ensuring that this information is sent separately from other documents. The Insurance Department is tasked with creating a model disclosure form that insurers can use to inform policyholders about flood insurance options, risks, and costs.

Additionally, the bill establishes enforcement mechanisms and penalties for non-compliance. The Insurance Department is authorized to enforce the provisions of this chapter and can impose penalties of up to $10,000 for each violation. The act is set to take effect 180 days after its passage, aiming to enhance consumer awareness of flood insurance and its importance in protecting property from flood-related damages.