US HB550

Requires the Government Accountability Office (GAO) to conduct a comprehensive study on wildfire insurance coverage in the United States, in consultation with the Federal Insurance Office and state insurance regulators

Directs GAO to assess wildfire risk trends including geography, costs, probability, and frequency of disasters under the Fire Management Assistance grant program, and evaluate the need for a national wildfire risk map

Requires analysis of insurance market changes over the past 10 years, including rate adjustments, policy non-renewals, coverage terminations, and geographic areas where private insurers have reduced wildfire coverage

Mandates examination of state regulatory responses including rate regulation, moratoria on non-renewals, establishment of residual market insurance entities, and the effectiveness of these actions

Report must be submitted to Congress within 12 months of enactment, covering challenges insurers face in underwriting wildfire risk and potential federal and state policy responses