3.0.0 4507 2023-01-13T04:49:26Z 2023-01-13T04:49:26Z House H HR 2005-12-13 109 hsba00 Financial Services Committee House Standing Referred to 2005-12-13T17:20:50Z 2005-12-13 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2005-12-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-12-13 Introduced in House IntroReferral 1000 9 Library of Congress M000087 Rep. Maloney, Carolyn B. [D-NY-14] CAROLYN MALONEY D NY B. 14 N W000797 Rep. Wasserman Schultz, Debbie [D-FL-20] Debbie Wasserman Schultz D FL 20 2005-12-22 False M000309 Rep. McCarthy, Carolyn [D-NY-4] CAROLYN MCCARTHY D NY 4 2006-02-01 False O000159 Rep. Owens, Major R. [D-NY-11] MAJOR OWENS D NY R. 11 2006-02-08 False Finance and Financial Sector Administrative procedure Building laws Business insurance Casualty insurance Claims Commerce Competitive bidding Congress Congressional investigations Congressional reporting requirements Department of the Treasury Disaster insurance Earthquakes Economics and Public Finance Emergency Management Fires Floods Government Operations and Politics Government insurance Government trust funds Governmental investigations Hurricane aftermath legislation Hurricanes Indexing (Economic policy) Insurance companies Insurance premiums Law Liability (Law) Losses Property insurance Reinsurance Risk Standards State laws Storms Sunset legislation Tsunamis Volcanoes Finance and Financial Sector 00 2005-12-13 Introduced in House 2006-02-16T16:35:01Z Natural Catastrophe Insurance Act of 2005 - Directs the Secretary of the Treasury to carry out a program to make reinsurance coverage available for purchase only by eligible State programs.

Requires a reinsurance contract to cover residential and business property losses insured or reinsured by the eligible State program and proximately caused by windstorm, earthquake, winter catastrophe, fire, tsunami, flood, volcanic eruption, or hail.

Establishes within the Treasury the Disaster Reinsurance Fund to pay for the administrative expenses of the reinsurance program.

Requires the Secretary to study and report to Congress annually on the cost and availability of insurance for losses resulting from catastrophic disasters covered by the reinsurance program under this Act.

Requires the Comptroller General to study and report to Congress on: (1) the need for a federal program to provide reinsurance for insured losses resulting from any catastrophe event that may threaten the solvency of any segment of the catastrophe insurance industry; and (2) the appropriateness of such a program to stabilize financial and insurance markets, and ensure the availability and affordability of insurance in the United States for losses from such events.

]]> Natural Catastrophe Insurance Act of 2005 Display Title Natural Catastrophe Insurance Act of 2005 Official Title as Introduced To establish a Federal program to provide reinsurance for State natural disaster insurance programs. Introduced in House IH Short Titles as Introduced Natural Catastrophe Insurance Act of 2005 Introduced in House 2005-12-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr4507ih/xml/BILLS-109hr4507ih.xml 2005-12-13 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.