Commission on Catastrophic Disaster Risk and Insurance Act of 2007

H.R. 537 would establish a bipartisan commission to study the stability of the insurance market following the devastating hurricane seasons of 2004 and 2005. The commission would evaluate the nation’s ongoing financial vulnerability to major natural disasters, including earthquakes, floods, and volcanic eruptions, in addition to windstorms. Based on these findings, the group would recommend legislative changes to ensure that property and casualty insurance remains available and affordable for homeowners and businesses in high-risk areas.