,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #fidd  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,janu>y #aj1 #bjbd,mr4
 ,s*iff 7= himself1 ,ms4 ,tlaib1 ,mr4   
,mull91 ,ms4 ,sal9as1 ,ms4 ,hoyle (     
,oregon1 ,ms4 ,l(gr51 & ,ms4 ,br[nley7  
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to require ! ,secret>y ( !     
,treasury to e/abli% a cata/rophic      
prop]ty loss re9surance program1 & = o!r
 purposes4  #a4 ,%ort title ,?is ,act   
may be cit$ z ! ,incorporat+ ,national  
,support = ,unprec$5t$ ,risks &         
,em]g5cies ,act or ! ,,insure ,act4  #b4
 ,cata/rophic prop]ty loss re9surance   
program  7a7 ,9 g5]al ,! ,secret>y ( !  
,treasury %all1 n lat] ?an #d ye>s aft] 
! date ( ! enactm5t ( ?is section1      
e/abli% a cata/rophic prop]ty loss      
re9surance program 79 ?is ,act ref]r$ to
 z ! ,program7 to provide re9surance =  
qualify+ prim>y insurance companies4    
7b7 ,eligibility ,an insur] is qualifi$ 
to p>ticipate 9 ! ,program e/abli%$ by !

 ,secret>y "u ?is section if su*        
insur]-- 7#a7 (f]s an all-p]ils prop]ty 
insurance policy =-- 7,a7 resid5tial    
prop]ty insurance policies2 or  7,b7    
comm]cial prop]ty insurance policies2 & 
7#b7 (f]s a loss prev5tion p>tn]%ip ) ! 
policyhold] to enc\rage inve/m5ts &     
activities t r$uce insur$ & economic    
losses f a cata/rophe p]il4  7c7        
,consultation ,! ,secret>y may contract 
) re9surance brok]s & consultants to    
assi/ ! ,secret>y 9 ! design & managem5t
 ( ! ,program4  7d7 ,program phase-,9   
timel9e ,! ,secret>y %all-- 7#a7 n lat] 
?an ,janu>y #a ( ! ye> beg9n+ #d ye>s   
aft] ! date ( ! enactm5t ( ?is section1 
op]ate ! ,program = ! p]il ( flood2     
7#b7 n lat] ?an ,janu>y #a ( ! ye>      
beg9n+ #e ye>s aft] ! date ( ! enactm5t 
( ?is section1 op]ate ! ,program = !    
p]ils ( w9d & hurricane2  7#c7 n lat]   
?an ,janu>y #a ( ! ye> beg9n+ #f ye>s   
aft] ! date ( ! enactm5t ( ?is section1 
op]ate ! ,program = ! p]ils ( sev]e     
convective /orm & wildfire2 &  7#d7 n   

lat] ?an ! e>li] ( ,janu>y #a ( ! ye>   
beg9n+ #h ye>s aft] ! date ( ! enactm5t 
( ?is section or ! date on :i* !        
feasibility report describ$ 9 p>agraph  
7#b7 ( section #d is submitt$1 op]ate ! 
,program = ! p]il ( e>?quake4  7e7      
,national flood insurance program       
discont9uation ,on ! date t ! ,secret>y 
beg9s op]at+ ! ,program ) respect to !  
p]il ( flood1 ! ,adm9i/rator ( ! ,f$]al 
,em]g5cy ,managem5t ,ag5cy %all-- 7#a7  
discont9ue ! issuance & r5ewal (        
policies "u ! national flood insurance  
program2 &  7#b7 cont9ue to op]ate !    
national flood insurance program until--
 7,a7 policies "u su* program issu$     
prior to ! discont9uation date "u       
p>agraph 7#a7 h expir$2 &  7,b7 all     
claims on policies "u su* program issu$ 
prior to ! discont9uation date h be5    
clos$4  7f7 ,?re%old = paym5t  7#a7 ,9  
g5]al ,! ,secret>y %all1 aft] consult+ )
 ! advisory committee e/abli%$ "u       
subsection 7i71 e/abli% a f9ancial      
?re%old at :i* a p>ticipat+ insur] may  

receive am\nts f ! fund e/abli%$ "u     
subsection 7j74  7#b7 ,?re%old          
calculation ,! ?re%old e/abli%$ "u      
p>agraph 7#a7 %all be an am\nt n great] 
?an #dj p]c5t ( ! probable maximum loss 
( an individual p>ticipat+ insur] = ea* 
cata/rophe p]il includ$ 9 ! ,program4   
7#c7 ,consid]ations ,9 e/abli%+ !       
?re%old describ$ 9 p>agraph 7#a71 !     
,secret>y %all consid]-- 7,a7 ! am\nt ( 
re9surance necess>y to mean+fully r$uce 
! co/ to ! p>ticipat+ insur] to-- 7i7   
provide cov]age = cata/rophe p]ils cov]$
 by ! ,program2 &  7ii7 enc\rage ,/ates 
to require p>ticipat+ insur]s to (f] an 
all-p]ils prop]ty insurance policy2     
7,b7 ! levels ( prim>y insur] ret5tion &
 private re9surance m>ket capacity      
necess>y to-- 7i7 promote /able &       
competitive m>kets = cata/rophe         
re9surance2 &  7ii7 inc5tivize !        
e/abli%m5t by private p>ties ( capital  
m>ket alt]natives to re9surance1 =      
example ! creation ( a m>ket =          
cata/rophe bonds2 &  7,c7 ! role ( !    

,program 9 promot+ inve/m5ts by         
p>ticipat+ insur]s t w\ld be aim$ at    
decreas+ losses4  7g7 ,premiums  7#a7 ,9
 g5]al ,! ,secret>y %all require        
p>ticipat+ insur]s to pay a premium to !
 ,secret>y ea* qu>t]4  7#b7 ,premium    
am\nt consid]ations ,! am\nt ( ! premium
 requir$ "u p>agraph 7#a7 %all reflect  
only ! foll[+ consid]ations3 7,a7 ,!    
expect$ av]age annual losses = !        
p>ticipat+ insur]1 z calculat$ by !     
,secret>y bas$ on ! exposure ( su*      
p>ticipat+ insur]4  7,b7 ,! adm9i/rative
 co/s to adm9i/] & manage ! ,program4   
7#c7 ,consultation ,! ,secret>y %all    
consult ) ! advisory committee e/abli%$ 
"u subsection 7i7 :5 e/abli%+ premium   
am\nts & may contract = s]vices to assi/
 9 ! e/abli%m5t ( premium am\nts4  7#d7 
,m9imum premium requir$ ,! ,secret>y may
 n e/abli% any premium t is less ?an #ej
 p]c5t ( ! am\nt equal to ! sum ( !--   
7,a7 expect$ av]age annual losses = !   
p>ticipat+ insur]1 z calculat$ by !     
,secret>y bas$ on ! exposure ( su*      

p>ticipat+ insur]2 &  7,b7 adm9i/rative 
co/s to adm9i/] & manage ! ,program4    
7#e7 ,premium adju/m5ts ,! ,secret>y    
%all adju/ premiums ea* qu>t] = ea*     
p>ticipat+ insur] to reflect mat]ial    
*anges 9 ! exposure ( su* insur]4  7#f7 
,premium increases ,exclud+ any adju/m5t
 made "u p>agraph 7#e71 ! ,secret>y may 
increase premiums = a p>ticipat+ insur] 
n m ?an #g p]c5t annually4  7h7 ,loss   
prev5tion p>tn]%ips  7#a7 ,9 g5]al ,!   
,secret>y1 9 coord9ation ) ! advisory   
committee e/abli%$ "u subsection 7i71   
,/ate insurance ag5cies1 & ,/ate &      
,f$]al em]g5cy managem5t ag5cies1 %all  
develop a li/ ( activities t qualify z  
loss prev5tion p>tn]%ips = purposes (   
?is section4 ,! li/ may include ! foll[+
 activities3 7,a7 ,p>ticipat+ insur]s   
provid+ am\nts to insur$ p>ties to cov] 
! co/1 9 :ole or 9 "p1 ( activities aim$
 at r$uc+ losses to ! insur$ p>ty4  7,b7
 ,p>ticipat+ insur]s mak+ cov]age       
cont+5t ^u ! implem5tation ( a loss     
prev5tion activity by a pot5tial insur$ 

p>ty4  7#b7 ,activities exclud$ f loss  
prev5tion p>tn]%ips ,! ,secret>y1 ,/ate 
insurance ag5cies1 & ,/ate & ,f$]al     
em]g5cy managem5t may n include ! foll[+
 activities z loss prev5tion p>tn]%ips =
 purposes ( ?is section3 7,a7 ,!        
provision ( an insurance premium disc\nt
 = an inve/m5t by an insur$ p>ty or     
pot5tial insur$ p>ty 9 an activity      
design$ to r$uce ! losses ( ! p>ticipat+
 insur]1 abs5t an inve/m5t by !         
p>ticipat+ insur]4  7,b7 ,! provision ( 
g5]al in=mation ab\t loss prev5tion4    
7i7 ,advisory committee  7#a7 ,9 g5]al  
,! ,secret>y %all e/abli% an advisory   
committee to advise ! ,secret>y )       
respect to ! ,program4  7#b7 ,memb]%ip  
,! committee e/abli%$ 9 p>agraph 7#a7   
%all include ! foll[+ memb]s3 7,a7 #e   
memb]s repres5t+ consum] organizations  
engag$ 9 fair h\s+1 insurance1          
environm5tal1 climate1 & te*nology      
advocacy4  7,b7 #c memb]s select$ f     
individual prim>y insurance companies   
sell+ prop]ty insurance policies1       

includ+ "o l>ge national insur]1 "o     
m$ium siz$ regional insur]1 & "o small  
insur]4  7,c7 #a global re9sur] active 9
 ,unit$ ,/ates prop]ty insurance m>kets4
  7,d7 #a dome/ic-focus$ re9sur] active 
9 ,unit$ ,/ates prop]ty insurance       
m>kets4  7,e7 #b insurance regulators f 
a ,/ate1 ,t]ritory1 or ! ,di/rict (     
,colombia4  7,f7 #b ,/ate legislators :o
 s]ve on ,/ate legislative committees ) 
ov]sight ov] insurance matt]s & :o are n
 employ$ directly or indirectly by any  
p]son or organization engag$ 9 ! bus9ess
 ( insurance4  7,g7 #b memb]s select$ f 
indep5d5t insurance ag5ts :o s]ve       
traditionally "u-s]v$ areas4  7,h7 #a   
repres5tative f a mortgage l5d]4  7,i7  
#a repres5tative f a bank4  7,j7 #a     
repres5tative f ea* ( ! foll[+ ag5cies3 
7i7 ,! ,dep>tm5t ( ,h\s+ & ,urban       
,developm5t4  7ii7 ,! ,dep>tm5t ( ,heal?
 & ,human ,s]vices4  7iii7 ,! ,f$]al    
,h\s+ ,f9ance ,ag5cy4  7iv7 ,! ,dep>tm5t
 ( ,vet]ans ,affairs4  7v7 ,! ,dep>tm5t 
( ,agriculture4  7vi7 ,! ,f$]al ,em]g5cy

 ,managem5t ,ag5cy4  7vii7 ,! ,(fice (  
,managem5t & ,budget4  7viii7 ,!        
,environm5tal ,protection ,ag5cy4  7,k7 
#a repres5tative f ! ,f9ancial ,/ability
 ,ov]sight ,c\ncil4  7j7 ,f$]al         
,cata/rophe ,re9surance ,fund  7#a7 ,9  
g5]al ,! ,secret>y %all e/abli% ! ,f$]al
 ,cata/rophe ,re9surance ,fund 79 ?is   
section ref]r$ to z ! ,fund7 to hold &  
inve/ premiums paid by p>ticipat+       
insur]s4  7#b7 ,issuance ( notes & bonds
  7,a7 ,9 g5]al ,if am\nts 9 ! ,fund are
 insuffici5t to pay obligations to      
p>ticipat+ insur]s1 ! ,secret>y %all    
issue notes & bonds "u ?is p>agraph1 !  
proce$s ( :i* %all be us$ = paym5t      
obligations to p>ticipat+ insur]s4  7,b7
 ,t]ms ,notes & bonds issu$ "u ?is      
p>agraph %all be 9 su* =m & d5om9ations1
 & %all be subject to su* t]ms &        
conditions ( issue1 conv]sion1          
r$emption1 maturation1 & paym5t z !     
,secret>y may prescribe & %all be fully 
& unconditionally gu>ante$ bo? z to     
int]e/ & pr9cipal by ! ,unit$ ,/ates1 & 

su* gu>anty %all be express$ on ! face (
 ea* bond4  7,c7 ,int]e/ ,notes & bonds 
issu$ "u ?is p>agraph %all be> int]e/ at
 a rate n less ?an ! curr5t av]age yield
 on out/&+ m>ket obligations ( ! ,unit$ 
,/ates ( comp>able maturity dur+ ! mon? 
prec$+ ! issuance ( ! obligation z      
det]m9$ by ! ,secret>y4  7,d7 ,treatm5t 
,all notes & bonds issu$ "u ?is         
p>agraph1 & ! int]e/ on cr$its ) respect
 to su* obligations1 %all n be subject  
to taxation by any ,/ate1 c\nty1        
municipality1 or local tax+ au?ority4   
7,e7 ,satisfaction ,! ,secret>y %all    
utilize inve/m5t rev5ue f ! ,fund to    
satisfy any notes or bonds issu$ "u ?is 
p>agraph4  7k7 ,data collection  7#a7 ,9
 g5]al ,! ,secret>y %all-- 7,a7 e/abli% 
a /ati/ical plan = qu>t]ly report+ by   
p>ticipat+ insur]s ( policy-level claim 
transaction data2  7,b7 consult ) !     
advisory committee e/abli%$ "u          
subsection 7i7 & ! ,national            
,association ( ,insurance ,commission]s 
) respect to-- 7i7 ! cont5ts ( !        

/ati/ical plan2 &  7ii7 ! me?od ( data  
collection2  7,c7 collect qu>t]ly       
reports f ea* p>ticipat+ insur] t       
include-- 7i7 a description ( all       
exposures cov]$ by ! ,program at ! "t ( 
! submission ( ! report2 &  7ii7 a li/ (
 ! type & am\nt ( all claims made 9 !   
previ\s qu>t]2  7,d7 9 a mann] t does n 
risk public disclosure ( p]sonally      
id5tifiable in=mation ( policyhold]s1   
provide ! qu>t]ly reports receiv$ "u    
subp>agraph 7,c7 to-- 7i7 ! ,director ( 
! ,(fice ( ,f9ancial ,rese>* to assess  
risk to-- 7,i7 ! f9ancial /ability ( !  
,unit$ ,/ates2 &  7,,ii7 int]national   
f9ancial sy/ems aris+ f ,unit$ ,/ates   
prop]ty insurance m>kets1 includ+ lack (
 available prop]ty insurance or         
inadequate cov]age f prop]ty insurance2 
7ii7 ! ,director ( ! ,f$]al ,insurance  
,(fice to assess ! risks to ! f9ancial  
/ability aris+ f "u-insurance ( prop]ty 
insurance policies cov]+ cata/rophe     
p]ils1 includ+ 9 traditionally und]s]v$ 
insurance m>kets2  7iii7 ! head ( !     

dep>tm5t ( insurance 9 ea* ,/ate2 &     
7iv7 any o!r ,f$]al1 ,/ate1 or local    
gov]nm5t entity t1 z det]m9$ by !       
,secret>y1 is relat$ to-- 7,i7          
cata/rophe loss prev5tion1 mitigation1  
or recov]y2 or  7,,ii7 ! promotion (    
competitive prop]ty insurance m>kets2 & 
7,e7 make ! data collect$ "u ?is        
p>agraph available onl9e 9 a mann] t    
does n risk public disclosure (         
p]sonally id5tifiable in=mation (       
policyhold]s4  7#b7 ,contract+ ) a      
/ati/ical ag5t  7,a7 ,9 g5]al ,!        
,secret>y %all contract ) a /ati/ical   
ag5t via a competitive bidd+ process to 
collect & review ! data "u ?is          
subsection = accuracy & complet5ess4    
7,b7 ,(fice ( ,f9ancial ,rese>* z !     
/ati/ical ag5t ,if ! ,secret>y is unable
 to id5tify a qualifi$ /ati/ical ag5t = 
collection ( data "u ?is subsection1 !  
,director ( ! ,(fice ( ,f9ancial ,rese>*
 %all e/abli% a data collection         
infra/ructure = collection ( su* data4  
#c4 ,grant program to promote loss      

prev5tion inve/m5ts  7a7 ,9 g5]al ,!    
,secret>y %all e/abli% a grant program  
to provide grants to ,/ates to-- 7#a7   
inc5tivize p>ticipat+ insur]s1          
policyhold]s1 & ,/ate & local gov]nm5ts 
to provide fund+ = inve/m5ts 9          
activities aim$ at r$uc+ losses to      
insurance provid]s2 &  7#b7 enc\rage    
,/ates to m&ate t insur]s (f] an        
all-p]ils prop]ty insurance policy4  7b7
 ,am\nt ( grants ,:5 provid+ am\nts to  
,/ates "u ! grant program e/abli%$ "u   
subsection 7a71 ! ,secret>y %all-- 7#a7 
solicit proposals f ,/ates describ+ !   
ways 9 :i* ,/ates w use any am\nts      
provid$ to improve ! availability &     
af=dability ( all-p]ils prop]ty         
insurance policies ?r\gh inve/m5ts 9    
loss mitigation & risk managem5t2  7#b7 
prioritize grants t yield ! greate/     
return on inve/m5t = loss prev5tion &   
risk mitigation :i* b5efit or t>get l[ &
 mod]ate income consum]s & small        
bus9esses2 &  7#c7 prioritize ! aw>d+ ( 
grants to ,/ates ) ! /ronge/ build+     

codes & :i* require prop]ty insurance   
policies t provide cov]age = !          
cata/rophe p]ils cov]$ by ! ,program )\t
 excessively l>ge d$uctibles z det]m9$  
by ! ,secret>y4  7c7 ,l[ & mod]ate      
income consum]s def9$ ,9 ?is section1 ! 
t]m l[ & mod]ate income consum]s means a
 consum] ) an income ( less ?an #abj    
p]c5t ( ! m$ian h\sehold income = !     
community4  7d7 ,au?orization (         
appropriations ,!re is au?oriz$ to be   
appropriat$ to ! ,secret>y to c>ry out  
?is section-- 7#a7 #ej1jjj1jjj1jjj 9    
#bjbf2  7#b7 #ee1jjj1jjj1jjj 9 #bjbg2   
7#c7 #fj1jjj1jjj1jjj 9 #bjbh2  7#d7     
#fe1jjj1jjj1jjj 9 #bjbi2 &  7#e7        
#gj1jjj1jjj1jjj 9 #bjcj4  #d4 ,reports  
on relocation fund & e>?quake cov]age ,!
 ,secret>y %all n lat] ?an-- 7#a7 #b    
ye>s aft] ! date ( ! enactm5t ( ?is     
,act1 submit to ,congress a report on ! 
feasibility ( e/abli%+ a fund to        
relocate homes & bus9esses t h become   
un9surable due to cata/rophe p]ils2 &   
7#b7 #c ye>s aft] ! date ( ! enactm5t ( 

?is ,act1 submit to ,congress a report  
on ! feasibility ( includ+ e>?quakes z a
 p]il cov]$ "u ! all-p]ils prop]ty      
insurance policy4  #e4 ,assi/ance =     
l[-income consum]s  7a7 ,9 g5]al ,!     
,secret>y %all1 z am\nts appropriat$ "u 
?is section all[1 e/abli% a grant       
program = ,/ates to provide f9ancial    
assi/ance to l[-income consum]s = :om   
resid5tial prop]ty insurance-- 7#a7 is  
requir$2 &  7#b7 repres5ts a significant
 portion ( ! h\sehold income ( su*      
consum]s4  7b7 ,application ,9 apply+ = 
a grant "u ?is section1 a ,/ate %all    
demon/rate h[ ! ,/ate w use grant am\nts
 9 ! ord] ( priority "u subsection 7c74 
7c7 ,ord] ( priority = grant am\nts ,a  
,/ate receiv+ grant am\nts "u ?is       
section %all prioritize ! use ( su*     
am\nts 9 ! foll[+ mann]3 7#a7 ,! use (  
grant am\nts = risk r$uction z ! means  
to r$uce ! prim>y insurance premium = ! 
consum]4  7#b7 ,! use ( grant am\nts to 
relocate ! home[n] f an un9surable      
prop]ty4  7#c7 ,! use ( grant am\nts z  

ca% assi/ance to pay a portion ( !      
insurance premium4  7d7 ,consultation   
,:5 e/abli%+ ! grant program "u         
subsection 7a71 ! ,secret>y %all consult
 ) !-- 7#a7 ,secret>y ( ,h\s+ & ,urban  
,developm5t2  7#b7 ,director ( ! ,f$]al 
,h\s+ ,f9ance ,ag5cy2  7#c7 ,secret>y ( 
,vet]ans ,affairs2  7#d7 ,assi/ant      
,secret>y = ,h\s+ & ,f$]al ,h\s+        
,commission] = ! ,f$]al ,h\s+           
,adm9i/ration2 &  7#e7 ,secret>y (      
,agriculture4  7e7 ,report ,! ,secret>y 
%all1 n lat] ?an #b ye>s aft] ! date ( !
 enactm5t ( ?is section & ea* ye>       
!reaft]1 publi% a report t analyzes :i* 
risk r$uction inve/m5ts "u subsection   
7c77#a7 are mo/ co/-effective1 brok5 d[n
 by ,/ate & by type ( cata/rophe p]il4  
7f7 ,au?orization ( appropriations ,!re 
is au?oriz$ to be appropriat$ to !      
,secret>y #ej1jjj1jjj1jjj annually to   
c>ry out ?is section4  #f4 ,long-t]m    
policy pilot program  7a7 ,9 g5]al ,!   
,secret>y %all1 9 consultation ) ,/ates 
& ! ,national ,association ( ,insurance 

,commission]s1 e/abli% a pilot program =
 all-p]ils prop]ty insurance policies ) 
a policy t]m ( at lea/ #e ye>s 79 ?is   
section ref]r$ to z a multi-ye> policy74
  7b7 ,premium & policy conditions ,an  
insur] :o p>ticipates 9 ! pilot program 
e/abli%$ "u ?is section may-- 7#a7      
increase premiums bas$ on-- 7,a7 price  
indexes ( con/ruction co/s2  7,b7 *anges
 9 home value2 &  7,c7 optional cov]ages
 select$ by ! policyhold]2  7#b7 n      
increase premiums bas$ on a *ange 9 !   
assessm5t by ! insur] ( ! cata/rophe    
p]il risks associat$ ) ! insur$ prop]ty2
  7#c7 require prop]ty ma9t5ance        
consi/5t ) ! condition ( ! prop]ty at "t
 ( initial policy issuance2 &  7#d7     
require loss mitigation inve/m5t        
p>tn]%ips z a condition = ! multi-ye>   
policy4  7c7 ,actions by ! policyhold]  
7#a7 ,policy cont9uation ,) ! agreem5t (
 ! insur]1 a consum] pur*as+ ! prop]ty  
dur+ ! t]m ( ! multi-ye> policy may     
cont9ue ! policy = ! rema9d] ( ! t]m4   
7#b7 ,election to new insur] ,if !      

policyhold] elects to move to a new     
insur] dur+ ! t]m ( ! multi-ye> policy1 
! new insur] may pay ! pro-rata %>e ( ! 
loss mitigation inve/m5t = !            
policyhold]4  7#c7 ,cancellation by     
policyhold] ,if ! policyhold] is !      
recipi5t ( any funds = loss prev5tion   
prop]ty improvem5ts f ! insur]1 ,f$]al1 
,/ate1 local gov]nm5t1 or o!r s\rce & ! 
policyhold] cancels ! policy be=e ! end 
( ! multi-ye> policy t]m1 ! policyhold] 
%all return a pro-rata %>e ( su*        
improvem5t to ! s\rce ( ! funds4  #g4   
,def9itions ,9 ?is ,act3 7#a7 ,all-p]ils
 prop]ty insurance policy ,! t]m        
all-p]ils prop]ty insurance policy means
 a prop]ty insurance policy approv$ by a
 ,/ate :i* includes cov]age = cata/rophe
 p]ils z su* p]ils are add$ to !        
,program4  7#b7 ,cata/rophe p]il ,! t]m 
cata/rophe p]il means ! damage caus$    
by-- 7,a7 w9d1 hurricane1 wildfire1     
sev]e convective /orm1 & flood z !y are 
add$ to ! ,program "u section #b7;d72   
7,b7 e>?quake1 condition$ on ! report "u

 section #d7b72 &  7,c7 any o!r p]il z  
det]m9$ by ! ,secret>y & add$ to !      
,program4  7#c7 ,engag$ 9 ! bus9ess (   
insurance ,! t]m engag$ 9 ! bus9ess (   
insurance means a p]son or entity t is  
subject to ov]sight by a ,/ate insurance
 dep>tm5t4  7#d7 ,insur] ,! t]m insur]--
 7,a7 means an admitt$ or non-admitt$   
insurance company lic5s$ or au?oriz$ to 
sell prim>y prop]ty insurance by ,/ate  
insurance regulators2 &  7,b7 does n    
include a re9surance company or a       
captive insurance company4  7#e7        
,p>ticipat+ insur] ,! t]m p>ticipat+    
insur] means an insur] t is p>ticipat+ 9
 ! ,program4  7#f7 ,prop]ty insurance   
policy ,! t]m prop]ty insurance policy  
means a contract ( insurance1 ?r\gh a   
policy =m approv$ by a ,/ate insurance  
dep>tm5t1 t provides1 among o!r         
cov]ages1 cov]age = physical damage to  
resid5tial or comm]cial prop]ty4  7#g7  
,secret>y ,! t]m ,secret>y means !      
,secret>y ( ! ,treasury4  7#h7          
,/ati/ical plan ,! t]m /ati/ical plan   

means-- 7,a7 a description ( ! data     
elem5ts to be report$2 &  7,b7 !        
in/ructions & proc$ures = accurately    
report+ data4