US Congress House Bill 1351 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on March 10 2015 - 25% progression, died in committee
Action: 2015-03-10 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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.

Homeowners' Defense Act of 2015

Rep. Frederica Wilson [D-FL]

Date	Chamber	Action
2015-03-10	House	Referred to the House Committee on Financial Services.
2015-03-10	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1351/all-info
Text	https://www.congress.gov/114/bills/hr1351/BILLS-114hr1351ih.pdf