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Homeowners' Insurance Availability Act of 2003

Introduced: April 1, 2003 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 11, 2003
Referred to the Subcommittee on Housing and Community Opportunity.
Apr 1, 2003
Referred to the House Committee on Financial Services.
Apr 1, 2003
Introduced in House
 Plain-English summary Congressional Research Service

Homeowners' Insurance Availability Act of 2003 - 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.

What's happening now April 11, 2003

Referred to the Subcommittee on Housing and Community Opportunity.

 Committees of jurisdiction 2
 Cosponsors 8
All 8 Democratic 4 Republican 4