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Homeowners' Insurance Availability Act of 2005

Introduced: February 16, 2005 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
Mar 21, 2005
Referred to the Subcommittee on Housing and Community Opportunity.
Feb 16, 2005
Referred to the House Committee on Financial Services.
Feb 16, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Homeowners' Insurance Availability Act of 2005 - 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 March 21, 2005

Referred to the Subcommittee on Housing and Community Opportunity.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 3 Republican 1