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Catastrophe Insurance Support: New Program for Homes and Businesses

This new law establishes a federal reinsurance program to help insurance companies cover losses from natural disasters like hurricanes, floods, and wildfires. The goal is to stabilize the insurance market and potentially reduce costs for homeowners and businesses, while also encouraging loss prevention efforts. The program also introduces the possibility of multi-year insurance policies.
Key points
The U.S. government will create a program to support insurers in case of large losses from natural disasters, potentially leading to greater availability and stability of insurance for citizens.
Insurers participating in the program must offer policies covering a wide range of catastrophic risks and collaborate with clients on loss prevention activities.
A pilot program for property insurance policies with terms of at least 5 years will be introduced, which could provide greater cost predictability for property owners.
A reinsurance fund, financed by insurer premiums, will be established and can be backed by government bonds if needed, increasing the program's financial security.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4504
Sponsor: Rep. Kamlager-Dove, Sydney [D-CA-37]
Process start date: 2025-07-17
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

INSURE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4504.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-07-17.

What are the main provisions?

Key points include:

  • The U.S. government will create a program to support insurers in case of large losses from natural disasters, potentially leading to greater availability and stability of insurance for citizens.
  • Insurers participating in the program must offer policies covering a wide range of catastrophic risks and collaborate with clients on loss prevention activities.
  • A pilot program for property insurance policies with terms of at least 5 years will be introduced, which could provide greater cost predictability for property owners.
  • A reinsurance fund, financed by insurer premiums, will be established and can be backed by government bonds if needed, increasing the program's financial security.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Kamlager-Dove, Sydney [D-CA-37].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Real Estate Economy Environment