INSURE Act
Sponsored By: Representative Rep. Kamlager-Dove, Sydney [D-CA-37]
Introduced
Summary
This bill would create a federal catastrophe reinsurance program that backs qualifying primary property insurers through a new Federal Catastrophe Reinsurance Fund and a phased-in all-perils coverage plan to lower insured losses from disasters.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Federal backstop for disaster insurance
This bill would set up a federal reinsurance fund within four years to backstop big property losses from disasters. Coverage would phase in by peril: wind and hurricane by January 1 of the year beginning four years after enactment; severe storms and wildfire by year five; flood by year six; and earthquake by year eight or sooner if a report is ready. Insurers that join would pay quarterly premiums based on expected average annual losses, administrative costs, and a trend factor. Increases outside quarterly adjustments would be capped at 7% a year, and premiums could not be below 50% of expected losses plus admin costs. The fund would start paying only after a per‑insurer, per‑peril threshold, set no higher than 40% of that insurer’s probable maximum loss. If the fund cannot pay, Treasury could issue U.S.-guaranteed notes and bonds to meet obligations. To join, insurers would need to offer all‑perils policies and a loss‑prevention partnership with policyholders.
Five-year property insurance price stability
This bill would create a pilot for property insurance policies that last at least five years and cover all perils. Insurers could raise premiums only for construction cost indexes, changes in home value, or optional coverages you choose. They could not raise premiums just because they change their disaster risk estimate for your property. Insurers could require maintenance and loss‑prevention upgrades to issue the policy. If you got funds for improvements and cancel early, you would have to repay a pro rata share. If you sell, a buyer could keep the policy only if the insurer agrees.
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Sponsors & CoSponsors
Sponsor
Rep. Kamlager-Dove, Sydney [D-CA-37]
CA • D
Cosponsors
Rep. Matsui, Doris O. [D-CA-7]
CA • D
Sponsored 7/17/2025
Rep. Carbajal, Salud O. [D-CA-24]
CA • D
Sponsored 7/17/2025
Rep. Wasserman Schultz, Debbie [D-FL-25]
FL • D
Sponsored 7/17/2025
Rep. Tokuda, Jill N. [D-HI-2]
HI • D
Sponsored 10/3/2025
Rep. Lofgren, Zoe [D-CA-18]
CA • D
Sponsored 10/28/2025
Rep. Huffman, Jared [D-CA-2]
CA • D
Sponsored 1/15/2026
Roll Call Votes
No roll call votes available for this bill.
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