The House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and Subcommittee on Housing and Community Opportunity are holding a joint hearing to consider H.R. 2555, the Homeowners’ Defense Act.
Sponsored by Rep. Ron Klein (D.-Fla.), the bill would enable states to pool their risk of natural disasters, by establishing a consortium of state-sponsored insurance funds. While the bill has bi-partisan support in the House, a variety of insurance industry parties are expressing a mix of support and reservations.
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