Published: January 2024

Endorsement for INSURE Act, to address crisis in home insurance market

Advocates expressed support for the Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act, which would create a federal catastrophic reinsurance program to insulate consumers from unrestrained homeowners insurance cost increases.

Consumer Action is one of the advocacy organizations endorsing the Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act, introduced by Representative Adam Schiff (D-CA) as a step toward stabilizing the home insurance market while ensuring vulnerable communities are not excluded from coverage. Insurers have responded to higher loss risks and conditions in the reinsurance market by imposing huge premium hikes and refusing to write new policies for homeowners. The INSURE Act would create a federal catastrophic reinsurance program to insulate consumers from unrestrained cost increases by offering insurers a transparent, fairly priced public reinsurance alternative for the worst climate-driven catastrophes. The INSURE Act is a critical step toward ensuring that homeowners and communities have access to affordable and accessible coverage.

Lead Organization

Representative Adam Schiff (D-CA)

More Information

Read the press release here.

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