Skip to main content
HR 1351 114th Congress House Finance and Financial Sector Accounting and auditing Disaster relief and insurance Government corporations and government-sponsored enterprises Housing finance and home ownership Life, casualty, property insurance Securities

Homeowners' Defense Act of 2015

Introduced: March 10, 2015 Introduced by: Wilson, Frederica S. Democratic · Florida See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 10, 2015
Referred to the House Committee on Financial Services.
Mar 10, 2015
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now March 10, 2015

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1