The INSURE Act establishes a catastrophic property loss reinsurance program to support insurers and promote loss prevention.

The INSURE Act, or Incorporating National Support for Unprecedented Risks and Emergencies Act, mandates the Secretary of the Treasury to create a catastrophic property loss reinsurance program. This program aims to provide reinsurance for primary insurance companies, encouraging them to offer all-perils property insurance policies. The Secretary must establish a Federal Catastrophe Reinsurance Fund to manage premiums and potential payouts. Participating insurers must pay premiums, which are adjusted quarterly based on exposure changes.

The INSURE Act establishes a catastrophic property loss reinsurance program to support insurers and promote loss prevention.

The INSURE Act, or Incorporating National Support for Unprecedented Risks and Emergencies Act, mandates the Secretary of the Treasury to create a catastrophic property loss reinsurance program. This program aims to provide reinsurance for primary insurance companies, encouraging them to offer all-perils property insurance policies. The Secretary must establish a Federal Catastrophe Reinsurance Fund to manage premiums and potential payouts. Participating insurers must pay premiums, which are adjusted quarterly based on exposure changes.