H.R.330 - Homeowners' Insurance Availability Act of 2007

To establish a Federal program to provide reinsurance to improve the availability of homeowners' insurance. view all titles (2)

All Bill Titles

  • Official: To establish a Federal program to provide reinsurance to improve the availability of homeowners' insurance. as introduced.
  • Short: Homeowners' Insurance Availability Act of 2007 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
01/09/07
 
 
 
 
 
 
 

Official Summary

Homeowners' Insurance Availability Act of 2007 - Instructs the Secretary of the Treasury to implement a reinsurance coverage program available only through contracts for reinsurance coverage purchased at regional auctions. States that the purpose of the program is to improve: (1) the a

Official Summary

Homeowners' Insurance Availability Act of 2007 - Instructs the Secretary of the Treasury to implement a reinsurance coverage program available only through contracts for reinsurance coverage purchased at regional auctions. States that the purpose of the program is to improve:
(1) the availability of homeowners' insurance for the purpose of facilitating the pooling, and spreading the risk, of catastrophic financial losses from disasters; and
(2) the solvency of the homeowners' insurance markets. Prescribes implementation guidelines that include establishment:
(1) in the Treasury of the Disaster Reinsurance Fund; and
(2) of a National Commission on Catastrophe Risks and Insurance Loss Costs.

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