BONDS: Provides for a study of the feasibility of establishing a Catastrophe Reinsurance Program which includes the issuance of catastrophe bonds to provide an alternative method for insurance companies to secure reinsurance to cover property damage and casualty losses

HCSR 1 proposed studying whether to create a Catastrophe Reinsurance Program using "catastrophe bonds" to help insurance companies cover large property damage or casualty losses from disasters. It would have directly affected insurance companies operating in high-risk areas by exploring an alternative to traditional reinsurance. The bill only requested a feasibility study and contained no binding policy changes, as it was withdrawn before introduction on June 4, 2025. No actual program or funding was established.