Homeowners' Defense Act of 2013

Summary

Homeowners' Defense Act of 2013 - Establishes the National Catastrophe Risk Consortium, as a non-federal, non-profit entity, to ensure the availability and affordability of homeowners' insurance coverage for catastrophic events. Directs the Consortium to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, state residual insurance market entities, and state-sponsored providers of natural catastrophe insurance; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) coordinate reinsurance contracts; (4) act as a centralized repository of state risk information accessible by certain private-market participants; and (5) establish a database to perform research and analysis that encourages standardization of the risk-linked securities market. Shields the federal government and the Consortium from liability for Consortium actions.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 February 2013

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• Introduced in House (PDF)

  Introduced in House · EN · 14 February 2013

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• Introduced in House

  summary · EN · 14 February 2013

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