To ensure the availability and affordability of homeowners’ insurance coverage for catastrophic events.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill defines congressional findings establishing the legislative rationale for federal intervention in catastrophe insurance markets, citing climate change impacts, coastal development, and risks to insurance market, establishes the National Catastrophe Risk Consortium with Treasury Secretary as chair. States can participate, and membership must include consumer and low-income housing representatives, and defines Consortium functions: inventory catastrophe risk obligations, assess insurance gaps and affordability, advance risk disclosure standards, submit annual reports to Congress, and assess disruption risks. It relies on loan guarantees, reporting requirements, definition changes, and appropriations. The main policy areas are Insurance, Finance, Financial Services, and Housing.
Who Benefits and How
State catastrophe insurance programs could face reduced risk, Homeowners in disaster-prone areas could see lower costs, and Bondholders of state catastrophe program debt could face reduced risk.
Who Bears the Burden and How
Treasury Department would take on compliance duties, Federal taxpayers could face increased risk, and State programs not meeting certification requirements could face higher barriers.
Key Provisions
- Defines congressional findings establishing the legislative rationale for federal intervention in catastrophe insurance markets, citing climate change impacts, coastal development, and risks to insurance market...
- Establishes the National Catastrophe Risk Consortium with Treasury Secretary as chair. States can participate, and membership must include consumer and low-income housing representatives.
- Defines Consortium functions: inventory catastrophe risk obligations, assess insurance gaps and affordability, advance risk disclosure standards, submit annual reports to Congress, and assess disruption risks.
- Authorizes appropriations as necessary for fiscal years 2026-2029 to fund the National Catastrophe Risk Consortium.
- Defines states the purposes of Title II: promote private capital availability for state catastrophe programs and expedite claims payments through federal debt guarantees.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill defines congressional findings establishing the legislative rationale for federal intervention in catastrophe insurance markets, citing climate change impacts, coastal development, and risks to insurance market, establishes the National Catastrophe Risk Consortium with Treasury Secretary as chair. States can participate, and membership must include consumer and low-income housing representatives, and defines Consortium functions: inventory catastrophe risk obligations, assess insurance gaps and affordability, advance risk disclosure standards, submit annual reports to Congress, and assess disruption risks.
Key Policy Areas
Insurance, Finance, Financial Services, Housing
Primary Purpose
The bill defines congressional findings establishing the legislative rationale for federal intervention in catastrophe insurance markets, citing climate change impacts, coastal development, and risks to insurance market, establishes the National Catastrophe Risk Consortium with Treasury Secretary as chair. States can participate, and membership must include consumer and low-income housing representatives, and defines Consortium functions: inventory catastrophe risk obligations, assess insurance gaps and affordability, advance risk disclosure standards, submit annual reports to Congress, and assess disruption risks.
Policy Domains
Section 2 - Findings and Purposes
Identified Gains
- State catastrophe insurance programs
- Homeowners in disaster-prone areas
- Bondholders of state catastrophe program debt
- Treasury Department / Consortium operations
- State catastrophe insurance programs meeting requirements
Identified Costs
- Treasury Department
- Federal taxpayers
- State programs not meeting certification requirements
- HUD
- GAO
Legislative Progress
IntroducedMs. Wilson of Florida introduced the following bill; which was …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Local governments and municipalities, State catastrophe insurance programs, State catastrophe insurance programs meeting requirements
Positive-direction: Local governments and municipalities, State catastrophe insurance programs, State catastrophe insurance programs meeting requirements
Negative-direction: State programs not meeting certification requirements
HUD, Treasury Department, Treasury Department / Consortium operations
Positive-direction: Treasury Department / Consortium operations
Negative-direction: HUD, Treasury Department
Bondholders and debt investors, Bondholders of state catastrophe program debt, Fiscal agents and trustees for state programs
Homeowners in disaster-prone areas, Homeowners in disaster-prone coastal areas, Insurance consumers and policyholders
Actuarial consulting firms, Home inspection services
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → Secretary of the Treasury
- "the_consortium"
- → National Catastrophe Risk Consortium
- "fiscal_agent"
- → Paying agent or trustee for eligible State program
- "the_secretary"
- → Secretary of the Treasury
- "the_secretary"
- → Secretary of the Treasury
- "the_secretary"
- → Secretary of Housing and Urban Development
- "the_secretary"
- → Secretary of the Treasury
- "the_comptroller_general"
- → Comptroller General of the United States
Note: 'The Secretary' refers to Secretary of the Treasury in Titles I, II, III, and V, but refers to Secretary of Housing and Urban Development in Title IV (Section 401)
Key Definitions
Terms defined in this bill
The National Catastrophe Risk Consortium established under this title
The duly appointed paying agent or trustee for the eligible State program
The Federal Natural Catastrophe Reinsurance Fund established within the Treasury
A State insurance or reinsurance program certified by the Secretary that is designed to improve private insurance markets and offers residential property insurance coverage for losses arising from personal residential lines of insurance
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology