INSURE Act (H.R. 6944)

Summary and Analysis

On January 10, 2024, Rep. Adam Schiff introduced the Incorporating National Support for Unprecedented Risks and Emergencies Act (INSURE Act) (H.R. 6944) which would create a federal catastrophic property loss reinsurance program. My summary and analysis of the Bill can be found here —> Summary.

The proposal would:

• Place the National Flood Insurance Program into run-off;

• Create a federal backstop for residential and commercial property insurance covering flood, windstorm, wildfire, severe convective storms, and earthquake; and

• Require participating insurers to pay a premium for federal reinsurance coverage.