HR 3997
Homeowners’ Defense Act of 2023
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Homeowners’ Defense Act of 2023 aims to improve the availability and affordability of homeowners’ insurance in the face of increasing natural disasters. It establishes a program to provide federal support to state-sponsored insurance programs, encouraging mitigation efforts and utilizing private market capital. The bill creates a National Catastrophe Risk Consortium and a Federal Natural Catastrophe Reinsurance Fund to manage risk and expedite claims payments. It also establishes a grant program for states to implement disaster preparedness and mitigation strategies.
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Primary sponsor
Cosponsor
Henry C. "Hank," Jr. Johnson
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