PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Dec 13, 2005
Natural Catastrophe Insurance Act of 2005 - Directs the Secretary of the Treasury to carry out a program to make reinsurance coverage available for purchase only by eligible State programs.
Requires a reinsurance contract to cover residential and business property losses insured or reinsured by the eligible State program and proximately caused by windstorm, earthquake, winter catastrophe, fire, tsunami, flood, volcanic eruption, or hail.
Establishes within the Treasury the Disaster Reinsurance Fund to pay for the administrative expenses of the reinsurance program.
Showing the opening paragraphs of the official summary.
Requires the Secretary to study and report to Congress annually on the cost and availability of insurance for losses resulting from catastrophic disasters covered by the reinsurance program under this Act.
Requires the Comptroller General to study and report to Congress on: (1) the need for a federal program to provide reinsurance for insured losses resulting from any catastrophe event that may threaten the solvency of any segment of the catastrophe insurance industry; and (2) the appropriateness of such a program to stabilize financial and insurance markets, and ensure the availability and affordability of insurance in the United States for losses from such events.
People & committees
Rep. Maloney, Carolyn B. [D-NY-14] · D–NY
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.
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