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H.R.737: Homeowners' Defense Act of 2013
About this Bill
|You can||read the bill|
|Sponsor||Frederica Wilson, D-Fla.|
|Total Cosponsors||3 (All Democrats)|
|Introduced||Feb. 14, 2013|
|Latest Major Action||Feb. 14, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the House
- Bill passed in the House
- Bill passed in the Senate
- Bill signed into law
Homeowners' Defense Act of 2013 - 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.
(Source: Congressional Research Service)
|Feb. 14, 2013||Referred to the House Committee on Financial Services.|