INSURE Act

The INSURE Act establishes a federal reinsurance program to help property insurers cover losses from natural disasters like hurricanes, wildfires, and floods. Participating insurers must offer "all-perils" property insurance policies covering these perils and develop loss prevention partnerships with policyholders to reduce disaster risks. The program will be phased in over several years, starting with wind and hurricane coverage, and will be funded by quarterly premiums from participating insurers based on expected losses. This aims to stabilize property insurance markets and ensure coverage remains available in high-risk areas.