Colorado lawmakers are renewing an effort to start a statewide home-resilience program through a new, quasi-governmental authority.
New legislation would establish the Strengthen Colorado Homes Enterprise, a government-owned business funded through fees on property insurers. Its job: running a grant program to help homeowners install wind- and hail-resistant roofs.
The bill is co-sponsored by House Speaker Julie McCluskie (D) and supported by Insurance Commissioner Michael Conway, who say the upgrades will reduce insurer losses as extreme weather intensifies. The state Insurance Division has said rising hail risk — from the eastern edge of the state to the Front Range of the Rocky Mountains including the Denver area — is driving up insurance premiums statewide.
The legislation will “lower premiums for everyone” and “stabilize Colorado’s property insurance market,” McCluskie said in a news release. A Senate committee is holding a hearing on the bill Tuesday.
