Top Legislation - View All
Also tagged in: Administrative procedure, Building construction, Building laws, Building materials, Business, Coinsurance, Congress, Congressional investigations, Congressional reporting requirements, Department of the Treasury, Disaster insurance, Earthquakes, Economic policy, Emergency management, Executive departments, Federal advisory bodies, Finance, Fires, Floods, Government information, Government publicity, Government trust funds, Governmental investigations, Housing, Hurricanes, Indexing (Economic policy), Insurance companies, Insurance premiums, Law, Losses, Property insurance, Public contracts, Reinsurance, Risk, State and local government, State laws, Storms, Surety and fidelity, Tornadoes, Tsunamis, Volcanoes
Latest Action: 01/04/2007 - Referred to the House Committee on Financial Services. Bill TextTo establish a program to provide reinsurance for State natural catastrophe insurance programs to help the United States better prepare for and protect its citizens against the ravages of natural catastrophes, to encourage and promote mitigation and prevention for, and recovery and rebuilding from such catastrophes, and to better assist in the financial recovery from such catastrophes. 1/4/2007--Introduced. Homeowners Insurance Protection Act of 2007 - Instructs the Secretary of the Treasury to establish the National Commission on Catastrophe Preparation and Protection to advise the Secretary regarding estimated loss costs associated with contracts for reinsurance coverage. Authorizes the Secretary to make homeowners protection coverage available through contracts for reinsurance coverage. Restricts purchase of such coverage to eligible state programs. Prescribes criteria for state eligibility. Requires each contract for reinsurance coverage to provide insurance [...] show full description
Also tagged in: Antitrust law, Bankruptcy, Business, Corporate mergers, Corporate reorganizations, Department of the Treasury, Executive departments, Executive reorganization, Federal preemption, Finance, Holding companies, Insurance agents, Insurance companies, Insurance law, Law, Licenses, Life insurance, Ombudsman, Politics and government, Property insurance, State and local government, State laws
Latest Action: 05/24/2007 - Sponsor introductory remarks on measure. (CR S6849) Bill TextA bill to authorize the issuance of Federal charters and licenses for carrying on the sale, solicitation, negotiation, and underwriting of insurance or any other insurance operations, to provide a comprehensive system for the Federal regulation and supervision of national insurers and national agencies, to provide for policyholder protections in the event of an insolvency or the impairment of a national insurer, and for other purposes. 5/24/2007--Introduced. National Insurance Act of 2007 - Establishes in the Department of the Treasury an Office of National Insurance (ONI), headed by a Commissioner of National Insurance, with Divisions of Insurance Fraud and of Consumer Affairs, and an Office of the Ombudsman.Authorizes the Commissioner to supervise, regulate, and provide for registration of insurance self-regulatory organizations. Requires the Commissioner to supervise national insurers and national agencies, including chartering and licensing. Removes them,[...] show full description
Also tagged in: Bank accounts, Business, Disaster insurance, Earthquakes, Emergency management, Finance, Floods, Income tax, Insurance companies, Law, Losses, Property insurance, Reinsurance, Storms, Tax deductions, Taxation, Trusts and trustees, Tsunamis, Volcanoes, Water resources
Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide for the creation of disaster protection funds by property and casualty insurance companies for the payment of policyholders' claims arising from future catastrophic events. 1/4/2007--Introduced. Policyholder Disaster Protection Act of 2007 - Amends the Internal Revenue Code to allow insurance companies (other than life insurance companies) to make tax deductible contributions to a tax-exempt policyholder disaster protection fund established by this Act for the payment of policyholders' claims arising from certain catastrophic events, such as windstorms, earthquakes, fires, or floods.
Also tagged in: Alabama, Budgets, Building laws, Business, Congress, Congressional reporting requirements, Depressed areas, Disaster insurance, Earthquakes, Economic policy, Emergency management, Executive departments, Federal advisory bodies, Finance, Floods, Florida, Government insurance, Government trust funds, Housing, Hurricanes, Income tax, Insurance companies, Legislation, Louisiana, Mississippi, Property insurance, Public-private partnerships, Reinsurance, Risk, Tax deferral, Tax exemption, Taxation, Texas, Tsunamis, Urban affairs, Volcanoes, Zoning and zoning law
Latest Action: 01/17/2007 - Referred to the House Committee on Financial Services. Bill TextTo establish a bipartisan commission on insurance reform. 1/17/2007--Introduced. Commission on Catastrophic Disaster Risk and Insurance Act of 2007 - Establishes the bipartisan Commission on Catastrophic Disaster Risk and Insurance to assess: (1) the condition of the property and casualty insurance and reinsurance markets in the aftermath of Hurricanes Katrina, Rita, and Wilma in 2005, and the four major hurricanes that struck the United States in 2004; (2) the ongoing exposure of the United States to windstorms, earthquakes, volcanic eruptions, tsunamis, and floods; and (3) recommend and report legislative and regulatory changes that will improve the domestic and international financial health and competitiveness of such markets.
Also tagged in: Bank accounts, Business, Disaster insurance, Earthquakes, Emergency management, Finance, Floods, Income tax, Insurance companies, Law, Losses, Property insurance, Reinsurance, Storms, Tax deductions, Taxation, Trusts and trustees, Tsunamis, Volcanoes, Water resources
Latest Action: 03/20/2007 - Sponsor introductory remarks on measure. (CR S3360-3362) Bill TextA bill to amend the Internal Revenue Code of 1986 to provide for the creation of disaster protection funds by property and casualty insurance companies for the payment of policyholders' claims arising from future catastrophic events. 3/20/2007--Introduced. Policyholder Disaster Protection Act of 2007 - Amends the Internal Revenue Code to allow insurance companies (other than life insurance companies) to make tax deductible contributions to a tax-exempt policyholder disaster protection fund established by this Act for the payment of policyholders' claims arising from certain catastrophic events, such as windstorms, earthquakes, fires, or floods.
Also tagged in: Administrative procedure, Building construction, Building laws, Building materials, Business, Coinsurance, Congress, Congressional investigations, Congressional reporting requirements, Department of the Treasury, Disaster insurance, Earthquakes, Economic policy, Emergency management, Executive departments, Federal advisory bodies, Finance, Fires, Floods, Government information, Government publicity, Government trust funds, Governmental investigations, Housing, Hurricanes, Indexing (Economic policy), Insurance companies, Insurance premiums, Law, Losses, Property insurance, Public contracts, Reinsurance, Risk, State and local government, State laws, Storms, Tornadoes, Tsunamis, Volcanoes
Latest Action: 03/20/2007 - Sponsor introductory remarks on measure. (CR S3360-3362) Bill TextA bill to establish a program to provide more protection at lower cost through a national backstop for State natural catastrophe insurance programs to help the United States better prepare for and protect its citizens against the ravages of natural catastrophes, to encourage and promote mitigation and prevention for, and recovery and rebuilding from such catastrophes, to better assist in the financial recovery from such catastrophes, and to develop a rigorous process of continuous improvement. 3/20/2007--Introduced. Homeowners Protection Act of 2007 - Directs the Secretary of the Treasury to establish the National Commission on Catastrophe Preparation and Protection to advise the Secretary regarding: (1) estimated loss costs associated with the contracts for reinsurance coverage; and (2) development of prevention, mitigation, recovery, and rebuilding standards that better prepare and protect the United States from catastrophes. Instructs the Secretary to implement [...] show full description
Also tagged in: Administrative fees, Business, Business insurance, Commercial arbitration, Congress, Congressional investigations, Congressional reporting requirements, Contracts, Data banks, Federal preemption, Finance, Financial statements, Government information, Government paperwork, Insurance, Insurance agents, Insurance companies, Insurance premiums, Interstate compacts, Interstate relations, Law, Licenses, Property insurance, Reinsurance, State and local government, State laws, State taxation, Tax returns, Taxation, Technology
Latest Action: 03/20/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to streamline the regulation of nonadmitted insurance and reinsurance, and for other purposes. 3/20/2007--Introduced. Nonadmitted and Reinsurance Reform Act of 2007 - Prohibits any state other than the home state of an insured from requiring a premium tax payment for nonadmitted insurance. Authorizes states to enter into procedures to allocate among themselves the premium taxes paid to an insured's home state. Allows an insured's home state to require surplus lines brokers and certain insureds to file annually tax allocation reports detailing the portion of the nonadmitted insurance premiums attributable to properties, risks, or exposures located in each state. Declares that Congress intends that each state adopt a nationwide or uniform procedure that provides for the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance. Subjects nonadmitted insurance solely to the regulatory requirements of the insured's [...] show full description
Also tagged in: Administrative fees, Business, Business insurance, Commercial arbitration, Congress, Congressional investigations, Congressional reporting requirements, Contracts, Data banks, Federal preemption, Finance, Financial statements, Government information, Government paperwork, Insurance, Insurance agents, Insurance companies, Insurance premiums, Interstate compacts, Interstate relations, Law, Licenses, Property insurance, Reinsurance, State and local government, State laws, State taxation, Tax returns, Taxation, Technology
Latest Action: 06/26/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo streamline the regulation of nonadmitted insurance and reinsurance, and for other purposes. 6/25/2007--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Nonadmitted and Reinsurance Reform Act of 2007 - Title I: Nonadmitted Insurance - (Sec. 101) Prohibits any state other than the home state of an insured from requiring a premium tax payment for nonadmitted insurance. Authorizes states to enter into procedures to allocate among themselves the premium taxes paid to an insured's home state. Declares that Congress intends that each state adopt a nationwide or uniform procedure that provides for the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance. Allows an insured's home state to require surplus lines brokers and certain insureds to file [...] show full description
Also tagged in: Administrative procedure, Business, Consumer education, Consumers, Executive departments, Federal Trade Commission, Finance, Fines (Penalties), Independent regulatory commissions, Insurance companies, Law, Property insurance, Restrictive trade practices
Latest Action: 03/29/2007 - Sponsor introductory remarks on measure. (CR S4298) Bill TextA bill to require insurance companies to fully disclose insurance coverage and noncoverage of homeowner's insurance policies, to provide for enforcement by the Federal Trade Commission, and for other purposes. 3/29/2007--Introduced. Homeowners' Insurance Noncoverage Disclosure Act - Requires state-registered insurance companies to include on the front or first page of each individual homeowner's policy a noncoverage disclosure box that restates in plain English all conditions, exclusions, and other limitations pertaining to coverage under that policy. Treats any failure to comply as a violation of unfair or deceptive acts or practices provisions of the Federal Trade Commission Act.
Also tagged in: Aged, Alabama, Alien labor, Authorization, Block grants, Budgets, Civil rights, Civil rights enforcement, Commemorations, Community development, Congress, Congressional investigations, Congressional reporting requirements, Congressional tributes, Criminal justice, Damages, Disaster insurance, Disaster relief, Emergency housing, Emergency management, Environmental assessment, Environmental protection, Fair housing, Federal aid to housing, Finance, Government liability, Hawaii, Home repair and improvement, Homestead law, Housing, Housing authorities, Housing for the aged, Housing subsidies, Hurricanes, Immigration, Infrastructure, Land transfers, Landlord and tenant, Law, Lobbying, Louisiana, Metropolitan areas, Mississippi, Mortgage guaranty insurance, Natural resources, Politics and government, Public housing, Real estate development, Rent, Rental housing, Residential rehabilitation, Single family housing, Social services, State and local government, Surveys, Urban affairs, Urban areas
Latest Action: 03/23/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo assist in the provision of affordable housing to low-income families affected by Hurricane Katrina. 3/21/2007--Passed House amended. (There are 2 other summaries) Gulf Coast Hurricane Housing Recovery Act of 2007 - Prohibits the use of any funds authorized by this Act to lobby or retain a lobbyist for the purpose of influencing a federal, state, or local governmental entity or officer. Title I: Community Development Block Grants - (Sec. 101) Prohibits the Director of the Federal Emergency Management Agency (FEMA) from prohibiting or restricting the use by the state of Louisiana of specified amounts targeted under its Road Home Program for Hurricanes Katrina and Rita, based upon a program requirement or condition that: (1) limits or reduces the amount made available to an eligible homeowner who does not agree to remain an owner and occupant of a home in Louisiana; or (2) waives the applicability of certain limitations or reductions [...] show full description
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Latest Legislation - View All
Latest Action: 02/11/2008 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to amend the Terrorism Risk Insurance Act of 2002, to temporarily reduce the insurer deductibles for insurers sustaining insured losses from large terrorism events. 2/11/2008--Introduced. Terrorism Risk Insurance Improvement Act of 2008 - Amends the Terrorism Risk Insurance Act of 2002 to revise the definition of "insurer deductible" with respect to a situation where aggregate industry insured losses resulting from a certified act of terrorism exceed $1 billion for an insurer that sustains any of such losses. Sets forth a calculation for the value of such an insurer's direct earned premiums over the calendar year immediately preceding the program year.
Latest Action: 03/28/2008 - Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Bill TextTo amend the Terrorism Risk Insurance Act of 2002 to temporarily reduce the insurer deductibles for insurers sustaining insured losses from large terrorism events. 12/17/2007--Introduced. Terrorism Risk Insurance Improvement Act of 2007 - Amends the Terrorism Risk Insurance Act of 2002 to revise the definition of "insurer deductible" with respect to a situation where aggregate industry insured losses resulting from a certified act of terrorism exceed $1 billion for an insurer that sustains any of such losses. Sets forth a calculation for the value of such an insurer's direct earned premiums over the calendar year immediately preceding the program year.
Also tagged in: Administrative procedure, Biological warfare, Business, Chemical warfare, Coinsurance, Compensation (Law), Congress, Congressional investigations, Congressional oversight, Congressional reporting requirements, Consumer education, Consumers, Criminal justice, Department of the Treasury, Emergency management, Executive departments, Finance, Foreign policy, Insurance companies, Insurance premiums, International affairs, Law, Life insurance, Losses, Nuclear terrorism, Property insurance, Reinsurance, Terrorism, Travel
Latest Action: 12/13/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo extend the Terrorism Insurance Program of the Department of the Treasury, and for other purposes. 12/12/2007--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)Terrorism Risk Insurance Program Reauthorization Act of 2007 - (Sec. 2) Amends the Terrorism Risk Insurance Act to redefine an act of terrorism to eliminate the requirement that the individual or individuals committing a terrorist act be acting on behalf of any foreign person or foreign interest.(Sec. 3) Extends the Terrorism Risk Insurance Program through calendar 2014.(Sec. 4) States that no insurer may be required to make payment for insured losses in excess of its statutory deductible combined with its statutory share of insured losses. Requires the Secretary of the Treasury to: (1) notify Congress within 15 days of [...] show full description
Latest Action: 11/08/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to provide a credit against tax for increased homeowners insurance premiums suffered by certain coastal homeowners or resulting from hurricane events. 11/8/2007--Introduced. Homeowners Insurance Assistance Act of 2007 - Amends the Internal Revenue Code to allow individual taxpayers in certain hurricane disaster areas a tax credit for 50% of their homeowner insurance premiums, up to $250 annually.
Also tagged in: Budgets, Business, Disaster insurance, Emergency management, Finance, Government lending, Government securities, Governmental investigations, Home ownership, Housing, Insurance companies, Nonprofit organizations, Politics and government, Property insurance, Public contracts, Reinsurance, Risk, Securities, Social services, State and local government, State politics and government
Latest Action: 11/06/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to establish a National Catastrophic Risks Consortium and a National Homeowners' Insurance Stabilization Program, and for other purposes. 11/6/2007--Introduced. Homeowners' Defense Act of 2007 - Establishes the National Catastrophe Risk Consortium as a nonprofit, nonfederal entity to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, and state residual insurance market entities; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; and (3) act as a centralized repository of state risk information accessible by certain private-market participants. Instructs the Secretary of the Treasury to implement a national homeowners' insurance stabilization program to make liquidity loans and catastrophic loans to qualified reinsurance programs to: (1) ensure their solvency; (2) improve the availability and affordability of homeowners' [...] show full description
Also tagged in: Administrative procedure, Apartment houses, Budgets, Business, Collection of accounts, Congress, Congressional investigations, Congressional reporting requirements, Department of Homeland Security, Disaster insurance, Emergency management, Employee training, Executive departments, Federal advisory bodies, Federal Emergency Management Agency, Finance, Floods, Government contractors, Government information, Government trust funds, Housing, Insurance agents, Insurance companies, Insurance premiums, Job training, Law, Maps, Mediation, Ombudsman, Politics and government, Property insurance, Public contracts, Standards, Subsidies, Water resources
Latest Action: 05/13/2008 - Considered by Senate. (consideration: CR S4048-4050, S4051-4061) Bill TextAn original bill to amend the National Flood Insurance Act of 1968, to restore the financial solvency of the flood insurance fund, and for other purposes. 11/1/2007--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Flood Insurance Reform and Modernization Act of 2007 - (Sec. 4) Amends the National Flood Insurance Act of 1968 (Act) to extend the national flood insurance program (Program) though FY2013. (Sec. 5) Requires the Director of the Federal Emergency Management Agency (FEMA) to make national flood insurance available for multifamily properties of more than four units. (Sec. 6) Requires the FEMA Director to estimate the exclusion of certain prospective insureds from purchasing flood insurance at risk premium rates less than those estimated for specified properties (including [...] show full description
Also tagged in: Administrative procedure, Biological warfare, Business, Chemical warfare, Compensation (Law), Congress, Congressional investigations, Congressional reporting requirements, Criminal justice, Department of the Treasury, Executive departments, Finance, Insurance companies, Insurance premiums, Law, Losses, Nuclear terrorism, Property insurance, Reinsurance, Terrorism, Weapons systems
Latest Action: 11/01/2007 - Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Dodd. With written report No. 110-215. Bill TextAn original bill to reauthorize the Federal terrorism risk insurance program, and for other purposes. 11/1/2007--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)Terrorism Risk Insurance Program Reauthorization Act of 2007 - (Sec. 2) Amends the Terrorism Risk Insurance Act to revise the definition of an act of terrorism for terrorism risk insurance purposes to eliminate the requirement that the individual or individuals committing a terrorist act be acting on behalf of any foreign person or foreign interest.Extends the Terrorism Risk Insurance Program through calendar 2014.(Sec. 4) States that no insurer may be required to make payment for insured losses in excess of its statutory deductible, combined with its statutory share of insured losses.Requires the Secretary of the [...] show full description
Also tagged in: Business, Congress, Congressional reporting requirements, Cost effectiveness, Disaster insurance, Disasters, Emergency management, Executive departments, Federal advisory bodies, Finance, Financial services, Insurance companies, Property insurance, Reinsurance
Latest Action: 11/01/2007 - Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Dodd. Without written report. Bill TextAn original bill to establish a nonpartisan commission on natural catastrophe risk management and insurance, and for other purposes. 11/1/2007--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)Commission on Natural Catastrophe Risk Management and Insurance Act of 2007 - Establishes the Commission on Natural Catastrophe Risk Management and Insurance to report to Congress on its findings and assessments regarding the risks posed to the United States by natural catastrophes, and means for mitigating those risks and paying for losses caused by such catastrophes. Requires the Commission to assess: (1) the condition of the property and casualty insurance and reinsurance markets prior to and in the aftermath of Hurricanes Katrina, Rita, and Wilma in 2005, and the four major hurricanes that struck [...] show full description
Also tagged in: Actions and defenses, Civil liberties, Civil rights, Criminal justice, Damages, Destruction of property, Discrimination in insurance, Discrimination in medical care, Divorce, Employee benefit plans, Employee health benefits, Families, Family violence, Finance, Health insurance, Health insurance continuation, Health policy, Insurance companies, Insurance premiums, Kidnapping, Labor, Law, Life insurance, Medical care, Medical economics, Medicine, Property insurance, Rape, Rape victims, Right of privacy, Sex crimes, Social life and customs, Stalking, Victims of crimes, Violence, Women
Latest Action: 03/25/2008 - Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Bill TextTo prohibit discrimination in insurance coverage to victims of domestic violence, dating violence, sexual assault, or stalking. 10/31/2007--Introduced. Insurance Non-Discrimination for Survivors Act - Prohibits an insurer from denying or terminating an insurance policy or health benefit plan, restricting or excluding coverage for losses or denying a claim, or adding a premium differential to any policy or health benefit plan on the basis that the insured (or any employee or any person with whom the insured is known to have a relationship or association) is the subject of, or incurs a claim related to, domestic abuse. Prohibits: (1) an insurer from denying or limiting payment to an insured who is the subject of abuse if the claim for payment is a result of the abuse; (2) an insurer or health carrier from terminating health coverage for a subject of abuse because coverage was originally issued in the name of the abuser and the abuser has divorced, separated from, or lost [...] show full description
Also tagged in: Business, Congress, Congressional reporting requirements, Cost effectiveness, Disaster insurance, Disasters, Emergency management, Executive departments, Federal advisory bodies, Finance, Financial services, Hurricanes, Insurance companies, Property insurance, Reinsurance
Latest Action: 09/24/2007 - Referred to the House Committee on Financial Services. Bill TextTo establish a nonpartisan Commission on Natural Catastrophe Risk Management and Insurance, and for other purposes. 9/24/2007--Introduced. Commission on Natural Catastrophe Risk Management and Insurance Act of 2007 - Establishes the Commission on Natural Catastrophe Risk Management and Insurance to report to Congress on the natural catastrophe insurance marketplace, including: (1) the extent to which insurance costs and availability are affected by specified factors; (2) which factors the federal government should address to increase catastrophe insurance availability and competitiveness; and (3) actions the federal government can undertake to achieve this goal without requiring a long-term cross-subsidy from taxpayers. Requires the Commission to report to certain congressional committees before the beginning of the 2008 hurricane season.
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