Creates a federal program to help insurance companies cover major property damage from natural disasters.
This bill would create a federal program to help insurance companies pay for major property damage caused by natural disasters like hurricanes, wildfires, and floods. This could lead to more stable and available property insurance for homeowners and businesses. The program would require participating insurers to offer all-perils policies and work with policyholders on loss prevention.
Today, there is no federal program to help insurance companies cover huge losses from natural disasters. This bill would create a federal catastrophic property loss reinsurance program, backed by a new Federal Catastrophe Reinsurance Fund, to help qualifying primary insurers pay for claims from events like hurricanes and wildfires. It would also launch a pilot program for multi-year property insurance policies, aiming for more stable coverage.
HR 4504 · 119th Congress · July 17, 2025 · AI Summary by gemini-2.5-flash · 9/10
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7 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.