Homeowners' Insurance Availability Act of 2003

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

R WeldonSponsor

42 cosponsors · 24 D, 18 R

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Homeowners' Insurance Availability Act of 2003 - Instructs the Secretary of the Treasury to implement a reinsurance coverage program available only through contracts for reinsurance coverage purchased at regional auctions.

What it does: CRS summary · Introduced in House · Apr 1, 2003

States that the purpose of the program is to improve: (1) the availability of homeowners' insurance for the purpose of facilitating the pooling, and spreading the risk, of catastrophic financial losses from disasters; and (2) the solvency of the homeowners' insurance markets.

Prescribes implementation guidelines that include establishment: (1) in the Treasury of the Disaster Reinsurance Fund; and (2) of a National Commission on Catastrophe Risks and Insurance Loss Costs.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Homeowners' Insurance Availability Act of 2003

Latest action (Apr 11, 2003): Referred to the Subcommittee on Housing and Community Opportunity.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 1, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.