Federal reinsurance program bill draws insurer skepticism 
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn

© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.


Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Cookies Settings

Federal reinsurance program bill draws insurer skepticism 

Shelby Rosenberg
January 19, 2024
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
US Capitol, Washington DC

A new bill purports to address insurance affordability and availability issues by creating a $50bn federal all-perils catastrophic property loss reinsurance program, but sources said that federal intervention would undermine the health of the private market and agreed that the proposed bill likely won’t make it far.

The Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act, sponsored by California representative Adam Schiff, would start offering reinsurance in 2026 with initial funding of $50bn.

The

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Request a free trial Already a subscriber? Login now

Topics

NewsRegulationTreaty ReinsuranceClaims and losses
shelby rosenberg/shelby rosenberg ii us.png
Shelby Rosenberg
Reporter
Contact
Gift this article