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Catastrophe Insurance Support: New Program for Property Owners

This new act establishes a federal reinsurance program to help insurance companies cover losses from natural disasters. The goal is to stabilize the insurance market, potentially reduce costs for homeowners and businesses, and encourage loss prevention efforts.
Key points
A federal fund will be created to support insurers in the event of large losses from wind, hurricanes, wildfires, severe storms, and floods, with earthquakes to be included later.
Insurers joining the program must offer comprehensive policies covering multiple catastrophe perils and partner with policyholders on loss prevention activities.
The act mandates data collection on claims, aiming to improve risk management and inform about insurance availability, especially in underserved areas.
A pilot program for property insurance policies with terms of at least 5 years will be introduced, potentially offering more stable pricing for property owners.
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Status: Introduced
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Additional Information
Print number: 119_S_2349
Sponsor: Sen. Schiff, Adam B. [D-CA]
Process start date: 2025-07-17
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
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_S_2349.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-17.

What are the main provisions?

Key points include:

  • A federal fund will be created to support insurers in the event of large losses from wind, hurricanes, wildfires, severe storms, and floods, with earthquakes to be included later.
  • Insurers joining the program must offer comprehensive policies covering multiple catastrophe perils and partner with policyholders on loss prevention activities.
  • The act mandates data collection on claims, aiming to improve risk management and inform about insurance availability, especially in underserved areas.
  • A pilot program for property insurance policies with terms of at least 5 years will be introduced, potentially offering more stable pricing for property owners.
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 Sen. Schiff, Adam B. [D-CA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

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

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Real Estate Economy Environment