INSURE Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4504 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 4504 To require the Secretary of the Treasury to establish a catastrophic property loss reinsurance program, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 17, 2025 Ms. Kamlager-Dove (for herself, Ms. Matsui, Mr. Carbajal, and Ms. Wasserman Schultz) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To require the Secretary of the Treasury to establish a catastrophic property loss reinsurance program, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Incorporating National Support for Unprecedented Risks and Emergencies Act'' or the ``INSURE Act''. SEC. 2. DEFINITIONS. In this Act: (1) All-perils property insurance policy.--The term ``all- perils property insurance policy'' means a property insurance policy approved by a State which includes coverage for catastrophe perils as those perils are added to the Program. (2) Catastrophe peril.--The term ``catastrophe peril'' means the damage caused by-- (A) wind, hurricane, wildfire, severe convective storm, and flood as they are added to the Program under section 3(d); (B) earthquake, conditioned on the report under section 5(2); and (C) any other peril as determined by the Secretary and added to the Program. (3) Engaged in the business of insurance.--The term ``engaged in the business of insurance'' means a person or entity that is subject to oversight by a State insurance department. (4) Fund.--The term ``Fund'' means the Federal Catastrophe Reinsurance Fund established under section 3(i). (5) Insurer.--The term ``insurer''-- (