Homeowners' Insurance Availability Act of 2003

Summary

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. 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.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 11 September 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 11 September 2003

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• Introduced in Senate

  summary · EN · 11 September 2003

  Open at official source

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