Federal reinsurance program bill draws insurer skepticism 
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Federal reinsurance program bill draws insurer skepticism 

Shelby Rosenberg
January 19, 2024
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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

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Topics

News Regulation Treaty Reinsurance Claims and losses
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