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Federal Reinsurance Program to Stabilize Home Insurance After Major Disasters.

This law establishes a federal reinsurance program to protect insurance companies from insolvency following catastrophic natural disasters like hurricanes or earthquakes. The goal is to ensure that homeowners' insurance remains affordable and available to citizens. If insured losses in a participating state exceed a set threshold, the federal government provides funds, which the state must repay within 10 years.
Key points
Stabilizing the housing insurance market: The program aims to keep property and casualty insurance (for homes and rentals) accessible and affordable, even after large-scale natural disasters.
Financial support for states: The federal government covers insured losses above a state-specific trigger amount, but the participating state must pledge to fully repay this aid within 10 years.
Voluntary participation: States choose whether to join the program, requiring an approved plan to ensure insurers handle claims up to the federal assistance threshold.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_6274
Sponsor: Rep. Moskowitz, Jared [D-FL-23]
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Natural Disaster Risk Reinsurance Program Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_6274.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What are the main provisions?

Key points include:

  • Stabilizing the housing insurance market: The program aims to keep property and casualty insurance (for homes and rentals) accessible and affordable, even after large-scale natural disasters.
  • Financial support for states: The federal government covers insured losses above a state-specific trigger amount, but the participating state must pledge to fully repay this aid within 10 years.
  • Voluntary participation: States choose whether to join the program, requiring an approved plan to ensure insurers handle claims up to the federal assistance threshold.
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. Moskowitz, Jared [D-FL-23].

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