Homeowners' Defense Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 10, 2015)
Homeowners' Defense Act of 2015
Establishes the National Catastrophe Risk Consortium, as a non-federal, non-profit entity, to ensure the availability and affordability of homeowners' insurance coverage for catastrophic events.
Directs the Consortium to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, state residual insurance market entities, and state-sponsored providers of natural catastrophe insurance; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) coordinate reinsurance contracts; (4) act as a centralized repository of state risk information accessible by certain private-market participants; and (5) establish a database to perform research and analysis that encourages standardization of the risk-linked securities market.
Shields the federal government and the Consortium from liability for Consortium actions.
What just happenedMar 10, 2015
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMar 10, 2015
- Mar 10, 2015IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Mar 10, 2015IntroReferralIntro-H
Introduced in House
- Mar 10, 2015IntroReferral1000
Introduced in House