,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #ajfhf  ,,9 ,,! ,,h\se ,,(         
,,repres5tatives  ,octob] #a1 #bjbf,mr4 
,m9 7= himself1 ,mr4 ,olszewski1 ,mr4   
,b]a1 ,ms4 ,bonamici1 ,mr4 ,case1 ,ms4  
,ca/or ( ,florida1 ,mr4 ,cisn]os1 ,mr4  
,coh51 ,ms4 ,dext]1 ,mr4 ,k5n$y ( ,new  
,york1 ,mr4 ,lev91 ,mr4 ,mull91 ,ms4    
,ross1 ,ms4 ,sal9as1 & ,mr4 ,?an$>7     
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to direct ! ,secret>y ( ,homel&
 ,security1 act+ ?r\gh ! ,adm9i/rator ( 
! ,f$]al ,em]g5cy ,managem5t ,ag5cy1 to 
e/abli% a pilot program to aw>d grants  
to cov]$ entities to support ! design1  
developm5t1 facilitation1 or            
implem5tation ( community-bas$          
cata/rophe insurance4  #a4 ,%ort title  
,?is ,act may be cit$ z ! ,community    
,disa/] ,protection ,act4  #b4          
,community-bas$ cata/rophe insurance    
pilot program  7a7 ,9 g5]al ,n lat] ?an 
#a ye> aft] ! date ( enactm5t ( ?is     
,act1 ! ,secret>y1 act+ ?r\gh !         

,adm9i/rator1 %all e/abli% a pilot      
program to aw>d grants to cov]$ entities
 = ! design1 developm5t1 or             
implem5tation ( community-bas$          
cata/rophe insurance programs to-- 7#a7 
facilitate or (f] community-bas$        
cata/rophe insurance = prop]ties ) high 
f9ancial exposure to losses f natural   
haz>ds or disa/]s1 :]e su* losses--     
7,a7 are n cov]$ "u traditional prop]ty 
insurance products (f]$ on public or    
private m>kets & available to memb]s ( !
 community2 or  7,b7 pres5t mat]ial &   
gr[+ risks to exi/+ prop]ty insurance   
c>ri]s or o!r memb]s ( ! insurance or   
risk transf] community2  7#b7 help      
/abilize ! traditional private prop]ty  
insurance m>ket ?r\gh innovative risk   
transf] approa*es2 &  7#c7 promote or   
inc5tivize community-wide or individual 
measures to r$uce pot5tial losses f1 or 
increase resili5ce to1 natural haz>ds or
 disa/]s cov]$ by su* program4  7b7     
,eligible uses ( funds ,a cov]$ entity  
receiv+ a grant "u ?is section may use  

su* funds to c>ry out #a or m ( ! foll[+
 activities 9 fur!rance ( a             
community-bas$ cata/rophe insurance     
program pursuant to subsection 7a73 7#a7
 ,conduct+ consum] rese>*1 includ+      
assessm5ts ( ! f9ancial exposure (      
h\seholds to natural haz>ds or disa/]s1 
anticipat$ or pot5tial h\sehold recov]y 
ne$s1 insurance lit]acy1 prop]ty        
insurance cov]age gaps1 af=dability     
con/ra9ts1 & pref]r$ insurance deliv]y  
*annels4  7#b7 ,conduct+ consum]        
outrea*1 education1 & enrollm5t         
activities t>get$ to community memb]s1  
includ+ ?r\gh community-bas$            
organizations1 local gov]nm5ts1 h\s+    
provid]s1 insur]s or re9sur]s1 insurance
 or re9surance produc]s1 f9ancial       
in/itutions1 or o!r entities4  7#c7     
,utiliz+ or configur+ cata/rophe risk   
models1 haz>d assessm5ts1 exposure data1
 or o!r analytical tools to bett] und]/&
 or help id5tify ! magnitude1 nature1 or
 geographic scope ( natural haz>d or    
disa/] risks 9 ! community4  7#d7       

,design+ & evaluat+ program features1   
includ+ ) respect to p>ametric          
programs-- 7,a7 evaluat+1 te/+1 &       
validat+ p>ametric trigg]s bas$ on      
objective1 indep5d5tly v]ifiable haz>d  
data1 includ+ meteorological1           
hydrological1 geological1 or o!r        
available data s\rces2 or  7,b7 evaluat+
 & r$uc+ basis risk1 includ+ ?r\gh an   
analysis ( ! correlation betwe5 propos$ 
p>ametric trigg]s & expect$ recov]y co/s
 & losses4  7#e7 ,develop+ regulatory1  
actu>ial1 & op]ational frameworks or    
modifications necess>y = ! approval1    
adm9i/ration1 & ov]sight (              
community-bas$ cata/rophe insurance     
products4  7#f7 ,e/abli%+ sy/ems =      
deliv]y ( insurance claims or b5efit    
paym5ts )9 a reasonable p]iod foll[+ a  
trigg]+ ev5t4  7#g7 ,conduct+ program   
evaluation & collect+ data on           
p>ticipation rates1 pay\t timel9ess1    
recov]y outcomes1 consum] satisfaction1 
& co/-effectiv5ess ) respect to !       
program4  7#h7 ,secur+ non-,f$]al       

f9ancial support = a community-bas$     
cata/rophe insurance program1 includ+-- 
7,a7 id5tify+1 evaluat+1 solicit+1 or   
negotiat+ pot5tial s\rces ( non-,f$]al  
premium assi/ance or risk capital1      
includ+ ,/ate & local appropriations1   
philan?ropic contributions1 community   
developm5t f9ancial in/itutions1        
insurance-l9k$ securities1 or o!r       
s\rces2  7,b7 e/abli%+ & adm9i/]+       
acc\nts1 tru/s1 or o!r vehicles necess>y
 to receive1 hold1 & disburse non-,f$]al
 funds = ! paym5t ( premiums or !       
provision ( risk capital2  7,c7 design+ 
premium assi/ance me*anisms to be fund$ 
) non-,f$]al s\rces1 includ+ eligibility
 crit]ia & contribution /ructures2 &    
7,d7 develop+ plans = ! long-t]m        
f9ancial su/a9ability ( ! program1      
includ+ id5tification ( s\rces ( premium
 assi/ance & risk capital foll[+ !      
conclusion ( ! pilot program4  7#i7     
,ent]+ into p>tn]%ips ) #a or m entities
 id5tifi$ 9 subsection 7d74  7c7        
,program features  7#a7 ,policy         

requirem5ts ,a community-bas$ cata/rophe
 insurance product design$1 develop$1   
facilitat$1 or implem5t$ ) funds aw>d$  
"u ?is section %all-- 7,a7 supplem5t    
traditional prop]ty insurance products  
on exi/+ public or private m>kets & n be
 design$ to replace or displace         
available private m>ket insurance       
cov]age2  7,b7 limit cov]age to losses  
attributable to specifi$ natural haz>ds 
or disa/]s t pres5t high f9ancial risk  
to ! community or ! /ability ( ! private
 prop]ty insurance m>ket pursuant to    
subsection 7a77#a72  7,c7 to ! ext5t    
possible1 provide cle> & conspicu\s     
consum] disclosures1 9 pla9 language & 9
 ! languages commonly us$ 9 ! community1
 be=e enrollm5t & ^u ea* r5ewal1        
reg>d+--  7i7 ! p]ils cov]$1 ! p]ils    
exclud$1 & any cov]age limits1          
d$uctibles1 or wait+ p]iods applicable  
to ! product2  7ii7 ! mann] 9 :i*       
cov]age "u ! product int]acts )         
traditional prop]ty insurance products  
held by ! p>ticipant1 includ+ :e!r      

recov]y "u ! product affects any claim1 
premium1 or r5ewal "u su* products2     
7iii7 ! effect1 if any1 t receipt ( a   
pay\t "u ! product may h on eligibility 
=1 or ! am\nt (1 ,f$]al1 ,/ate1 or local
 disa/] assi/ance1 includ+ assi/ance    
subject to section #cab ( ! ,rob]t ,t4  
,/af=d ,disa/] ,relief & ,em]g5cy       
,assi/ance ,act 7#db ,u4,s4,c4 #eaee72  
7iv7 :e!r ! product satisfies any ,f$]al
 or ,/ate requirem5t to obta9 & ma9ta9  
insurance1 includ+ any requirem5t "u    
section #caa ( su* ,act 7#db ,u4,s4,c4  
#eaed7 or "u ! ,flood ,disa/]           
,protection ,act ( #aigc 7#db ,u4,s4,c4 
#djjb et seq472  7v7 ! id5tity ( !      
entity be>+ ! risk ( loss1 any f9ancial 
/r5g? rat+ ( su* entity1 & :e!r         
obligations "u ! product are cov]$ by   
any ,/ate insurance gu>anty association 
or simil> me*anism2  7vi7 ! am\nt ( !   
premium1 ! portion ( ! premium paid by  
any p>ty o!r ?an ! p>ticipant1 ! expect$
 duration ( any su* assi/ance1 & !      
effect on ! p>ticipant if su* assi/ance 

is r$uc$ or discont9u$2  7vii7 ! t]m (  
cov]age1 ! conditions "u :i* cov]age may
 be cancell$1 nonr5ew$1 or t]m9at$1 & ! 
effect on p>ticipants if !              
community-bas$ cata/rophe insurance     
program is discont9u$2  7viii7 :e!r     
p>ticipation is volunt>y & ! process by 
:i* a memb] ( ! community may decl9e or 
)draw f p>ticipation2  7ix7 ! process = 
submitt+ que/ions1 claims1 & compla9ts1 
includ+ contact in=mation = ! applicable
 ,/ate insurance regulator2 &  7x7 any  
o!r disclosure applicable "u ,/ate law  
or regulatory requirem5ts2  7,d7 ensure 
any premiums are actu>ially s\nd1       
transp>5t1 & design$ to support program 
su/a9ability :ile promot+ broad         
p>ticipation2  7,e7 promote or          
inc5tivize community-wide or individual 
measures to r$uce pot5tial losses f1 or 
increase resili5ce to1 natural haz>ds or
 disa/]s cov]$ by su* product1 includ+  
?r\gh1 to ! ext5t possible--  7i7       
re9ve/m5t ( any excess funds ( !        
community-bas$ cata/rophe insurance     

program to mitigate natural haz>d or    
disa/] risks cov]$ "u ! product2 or     
7ii7 disclosure ( community-wide or     
individual measures t may r$uce ! risk (
 losses cov]$ "u ! product2  7,f7       
provide = /reaml9$ enrollm5t & claims   
disbursem5t processes to ! ext5t        
practicable2  7,g7 9 in/ances :]e su* a 
program is a p>ametric program pursuant 
to p>agraph 7#c77;,b7--  7i7 utilize an 
objective & pr$et]m9$ trigg] condition  
or conditions = pay\t ( b5efits1 &      
provide = di/ribution ( b5efits 9 a     
timely mann] aft] v]ification t su*     
condition or conditions h be5 met2  7ii7
 include a /rategy to m9imize basis risk
 & regul>ly evaluate trigg] p]=mance2 & 
7iii7 9 addition to ! disclosures       
requir$ "u subp>agraph 7,c71 provide    
cle> consum] disclosures reg>d+ !       
diff]5ces betwe5 indemnity insurance &  
p>ametric products1 trigg] conditions1  
pay\t am\nts & limitations1 pot5tial    
effects ( pay\ts on o!r ,f$]al          
assi/ance1 pot5tial basis risk1 & o!r   

relevant details2 &  7,h7 comply ) all  
applicable ,/ate insurance laws &       
regulatory requirem5ts1 includ+ any     
applicable lic5s+1 =m fil+1 rate fil+1 &
 m>ket conduct requirem5ts1 & 9         
fur!rance ( su* compliance--  7i7 prior 
to (f]+ ! product1 seek f ! insurance   
regulator ( ea* ,/ate 9 :i* ! product w 
be (f]$ a det]m9ation or writt5         
confirmation z to :e!r ! product        
con/itutes insurance "u ! laws ( su*    
,/ate &1 if s1 ! lic5s+ & fil+          
requirem5ts applicable to ! product & to
 ! cov]$ entity2  7ii7 place cov]age )  
an insur] au?oriz$ or eligible to       
transact su* bus9ess 9 ea* su* ,/ate1 or
 ) a risk-be>+ entity e/abli%$ & op]at+ 
9 accordance ) ! laws ( su* ,/ate2      
7iii7 ensure t any sale1 solicitation1  
negotiation1 or enrollm5t activity      
conduct$ by ! cov]$ entity1 or by any   
p>tn] ( ! cov]$ entity1 is p]=m$ by     
p]sons lic5s$ z insurance produc]s "u   
applicable ,/ate law or pursuant to an  
exemption available "u su* law2 &  7iv7 

provide ! insurance regulator ( ea* su* 
,/ate ) notice ( ! program prior to     
implem5tation & ) reasonable access to  
program data = regulatory & ov]sight    
purposes4  7#b7 ,program requirem5ts ,a 
cov]$ entity adm9i/]+ a community-bas$  
cata/rophe insurance program design$1   
develop$1 or implem5t$ ) funds aw>d$ "u 
?is section %all-- 7,a7 to ! ext5t      
feasible1 facilitate or provide access  
to f9ancial inc5tives1 te*nical         
assi/ance1 or guidance to memb]s ( !    
community to promote inve/m5ts1 be/     
practices1 or o!r actions to r$uce      
pot5tial losses f1 or increase resili5ce
 to1 natural haz>ds or disa/]s risks    
cov]$ by su* program2  7,b7 assess &    
communicate1 publicly & to ! prop]ty    
insurance community1 *anges 9 ! natural 
haz>d or disa/] risk ( policyhold]s or !
 region s]v$ by su* program1 includ+    
*anges result+ f p>ticipation 9         
community-bas$ cata/rophe insurance &   
risk r$uction inve/m5ts und]tak5 by     
prop]ty own]s1 r5t]s1 bus9esses1 & o!r  

memb]s pursuant to su* program1 = !     
purposes ( negotiat+ insurance product  
t]ms t are actu>ially ju/ifi$2  7,c7    
comply ) all applicable ,/ate insurance 
laws & regulatory requirem5ts1 includ+  
secur+ appropriate au?orization f ea*   
,/ate 9 :i* ! product w be (f]$ )       
respect to cov]$ entities seek+ to (f]1 
issue1 und]write1 or adm9i/]            
community-bas$ cata/rophe insurance     
pursuant to subp>agraph 7,d77iii72 &    
7,d7 utilize #a or a mixture ( ! foll[+ 
community-bas$ insurance frameworks3 7i7
 ,! cov]$ entity facilitates ! pur*ase (
 insurance betwe5 insur]s & memb]s ( !  
community1 :]e su* memb]s contract      
directly ) ! insur] & ! cov]$ entity    
ov]sees community outrea* & education & 
conducts premium negotiation ) ! insur]4
  7ii7 ,! cov]$ entity arranges a       
community-bas$ cata/rophe insurance     
product on behalf ( memb]s ( a          
community1 :]e ! cov]$ entity           
facilitates enrollm5t ( su* memb]s 9 !  
insurance product1 paym5t to ! insur]1 &

 pay\t ( claims to su* memb]s4  7iii7 ,!
 cov]$ entity e/abli%es a risk-be>+     
entity to (f]1 issue1 und]write1 or     
adm9i/] community-bas$ cata/rophe       
insurance = memb]s ( ! community1       
includ+ pur*as+ re9surance1 manag+ !    
paym5t ( insurance claims1 sett+        
insurance product t]ms1 & o!r functions 
necess>y to adm9i/] su* insurance4  7#c7
 ,au?oriz$ activities ,a cov]$ entity   
adm9i/]+ a community-bas$ cata/rophe    
insurance program design$1 develop$1 or 
implem5t$ ) funds aw>d$ "u ?is section  
may-- 7,a7 utilize mobile-bas$          
te*nologies or o!r te*nologies =        
insurance deliv]y1 consum] in=mation1 & 
o!r purposes2 or  7,b7 op]ate su*       
program z a p>ametric risk transf] model
 ?r\gh :i* fix$ or graduat$ paym5ts are 
provid$ to enroll$ memb]s ( ! community 
:5 pr$et]m9$ trigg] conditions are met  
foll[+ specifi$ natural haz>d or disa/] 
ev5ts4  7d7 ,coord9ation ,9 design+1    
develop+1 or implem5t+ a community-bas$ 
cata/rophe insurance program pursuant to

 subsection 7a71 a cov]$ entity receiv+ 
a grant "u ?is section %all coord9ate   
)--  7#a7 memb]s ( ! community1 includ+ 
prop]ty own]s1 r5t]s1 bus9esses1 & o!r  
entities t>get$ = p>ticipation 9 !      
community-bas$ cata/rophe insurance     
product2  7#b7 ! insurance regulator (  
ea* ,/ate 9 :i* ! community-bas$        
cata/rophe insurance program w op]ate2  
7#c7 private indu/ry1 includ+ insur]s & 
re9sur]s2 &  7#d7 o!r relevant entities 
) exp]tise 9 natural haz>d & disa/] risk
 assessm5t1 mitigation1 recov]y1 or     
insurability1 or 9 ! deliv]y ( f9ancial 
assi/ance or b5efits1 includ+--  7,a7   
o!r cov]$ entities2  7,b7 insurance or  
re9surance produc]s2  7,c7 nonpr(it     
organizations2  7,d7 cata/rophe risk    
model+ firms2  7,e7 academic & rese>*   
in/itutions2 or  7,f7 f9ancial te*nology
 provid]s4  7e7 ,prioritization (       
applicants ,9 aw>d+ grants "u ?is       
section1 ! ,adm9i/rator %all conduct a  
competitive process = consid]+ &        
id5tify+ applications f cov]$ entities  

to ensure grant recipi5ts-- 7#a7        
repres5t broad geographic conditions1   
demographics1 unmet natural haz>d or    
disa/] resili5cy or recov]y ne$s1 & o!r 
factors to produce a wide range ( data  
to evaluate program p]=mance &          
viability2  7#b7 t>get communities )    
high pot5tial f9ancial exposure to      
losses f natural haz>ds or disa/]s cov]$
 "u ! propos$ community-bas$ cata/rophe 
insurance program = p>ticipation 9 su*  
program2 &  7#c7 id5tify suffici5t      
capital s\rces & public-private         
p>tn]%ips to ensure ! long-t]m          
su/a9ability & effectiv5ess ( !         
community-bas$ cata/rophe insurance     
program develop$ ) funds "u ?is section4
  7f7 ,guidance  7#a7 ,9 g5]al ,n lat]  
?an #ahj days aft] ! date ( enactm5t (  
?is ,act1 ! ,adm9i/rator %all issue     
guidance = ! implem5tation ( ! pilot    
program e/abli%$ "u subsection 7a71     
includ+ ) respect to-- 7,a7 application 
requirem5ts & evaluation crit]ia2  7,b7 
! m9imum requirem5ts describ$ 9         

subsection 7c77#a72  7,c7 all[able uses 
( funds "u subsection 7b71 includ+ any  
limitation on adm9i/rative co/s2  7,d7  
coord9ation ) ,/ate insurance regulators
 reg>d+ ! requirem5ts ( subsection      
7c77#a77;,h71 includ+ model approa*es to
 det]m9+ :e!r a community-bas$          
cata/rophe insurance product con/itutes 
insurance "u ! laws ( a ,/ate2 &  7,e7 !
 data report+ requir$ "u subsection     
7h77#e74  7#b7 ,consultation ,9 develop+
 guidance "u p>agraph 7#a71 !           
,adm9i/rator %all consult )-- 7,a7 !    
,national ,association ( ,insurance     
,commission]s2  7,b7 ,/ate insurance    
regulators2  7,c7 ! ,f$]al ,insurance   
,(fice ( ! ,dep>tm5t ( ! ,treasury2     
7,d7 cov]$ entities & organizations     
repres5t+ cov]$ entities2 &  7,e7       
insur]s1 re9sur]s1 & o!r p>ticipants 9 !
 private risk transf] m>ket1 includ+    
insurance & re9surance produc]s4  7g7   
,t]m9ation ,! au?orization to c>ry out !
 community-bas$ cata/rophe insurance    
pilot program e/abli%$ "u subsection 7a7

 %all t]m9ate on ,septemb] #cj1 #bjca4  
7h7 ,,gao reports  7#a7 ,reports requir$
 ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates
 %all1 ) respect to community-bas$      
cata/rophe insurance programs design$1  
develop$1 or implem5t$ pursuant to ?is  
section1 conduct & submit to ,congress--
  7,a7 a /udy n lat] ?an #a ye> aft] at 
lea/ #c cov]$ entities utiliz$ su*      
programs to address a natural haz>d or  
disa/] ev5t or n lat] ?an #c ye>s aft]  
e/abli%m5t ( ! pilot program "u         
subsection 7a71 :i*ev] occurs e>li]2 &  
7,b7 a /udy n lat] ?an #a ye> aft] !    
conclusion ( ! pilot program e/abli%$ "u
 subsection 7a74  7#b7 ,evaluation      
crit]ia ,ea* /udy conduct$ "u p>agraph  
7#a7 %all conta9 an evaluation ( !      
effectiv5ess ( programs design$1        
develop$1 or implem5t$ pursuant to ?is  
section ) respect to-- 7,a7 ! timel9ess 
( insurance claim1 b5efit det]m9ations1 
& pay\t deliv]y2  7,b7 ! ext5t to :i*   
claim & b5efit paym5ts address$ imm$iate
 natural haz>d or disa/]-relat$ f9ancial

 losses & recov]y exp5ses2  7,c7 ! ext5t
 to :i* risk r$uction inve/m5ts und]tak5
 ?r\gh ! program 7 reflect$ 9 premium1  
t]ms1 or capacity2  7,d7 p>ticipation   
rates among eligible h\seholds &        
communities1 includ+ demographic1       
geographic1 & income-bas$ *>act]i/ics ( 
p>ticipat+ & nonp>ticipat+ h\seholds2   
7,e7 af=dability ( cov]age & !          
effectiv5ess ( any premium assi/ance    
me*anisms1 includ+ ! s\rces1 suffici5cy1
 & durability ( any non-,f$]al premium  
assi/ance or risk capital secur$        
pursuant to subsection 7b77#h72  7,f7   
adm9i/rative co/s relative to b5efits   
deliv]$2  7,g7 impacts ( ! program on-- 
7i7 po/-disa/] f9ancial /ability1       
recov]y outcomes1 & reliance on o!r =ms 
( public assi/ance2 &  7ii7 aw>5ess1    
assessm5t1 mitigation1 & r$uction (     
natural haz>d or disa/] risks cov]$ "u  
su* program2  7,h7 ) respect to memb]s (
 ! community-- 7i7 und]/&+ ( program    
t]ms1 trigg] conditions1 & pay\t        
expectations1 & ! effectiv5ess (        

outrea*1 education1 & enrollm5t         
/rategies2 &  7ii7 satisfaction )       
program adm9i/ration & b5efit deliv]y2 &
  7,i7 any /atutory1 regulatory1        
op]ational1 actu>ial1 or data-relat$    
b>ri]s to broad] implem5tation (        
community-bas$ cata/rophe insurance4    
7#c7 ,recomm5dations ,! /udy requir$ "u 
p>agraph 7#a77;,b7 %all include         
recomm5dations reg>d+-- 7,a7            
opportunities = ,congress1 ! ,dep>tm5t (
 ,homel& ,security1 & o!r ,f$]al ag5cies
 to support cov]$ entities 9 ! design1  
developm5t1 & implem5tation (           
community-bas$ cata/rophe insurance     
programs2 &  7,b7 :e!r ,congress %\ld   
au?orize1 exp&1 modify1 or make p]man5t 
! pilot program e/abli%$ "u subsection  
7a74  7#d7 ,evaluation ( non-traditional
 risk transf] ,! /udy requir$ "u        
p>agraph 7#a77;,b7 %all include--  7,a7 
an exam9ation ( :at ! ,f$]al ,em]g5cy   
,managem5t ,ag5cy consid]s to be        
insurance "u section #caa ( ! ,/af=d    
,disa/] ,relief & ,em]g5cy ,assi/ance   

,act 7#db ,u4,s4,c4 #eaed72  7,b7 a     
review ( rec5t developm5ts & advancem5ts
 9 ! private risk transf] m>ket1        
includ+--  7i7 ! creation ( risk transf]
 me*anisms & in/rum5ts beyond           
traditional prop]ty insurance s9ce      
#aihh2 &  7ii7 ! efficacy ( o!r         
community-bas$ cata/rophe insurance     
demon/rations or policies implem5t$ 9 ! 
,unit$ ,/ates2 &  7,c7 an evaluation (--
 7i7 :e!r community-bas$ cata/rophe     
insurance w\ld adequately enc\rage      
individuals1 ,/ates1 local gov]nm5ts1 & 
o!r cov]$ entities to r$uce exposure to 
losses f natural haz>ds or disa/]s by   
obta9+ private cov]age to supplem5t &   
replace gov]nm5tal assi/ance2  7ii7 !   
design p>amet]s & contract t]ms requir$ 
= non-traditional insurance risk transf]
 me*anisms & in/rum5ts to be consid]$ by
 ! ,f$]al ,em]g5cy ,managem5t ,ag5cy z  
insurance = purposes ( any requirem5ts  
to obta9 & ma9ta9 insurance cov]age "u !
 ,rob]t ,t4 ,/af=d ,disa/] ,relief &    
,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4 

#eaba et seq472 &  7iii7 ! impact t     
d5ial ( recognition ( non-traditional   
insurance risk transf] me*anisms &      
in/rum5ts by ! ,f$]al ,em]g5cy          
,managem5t ,ag5cy has on ! utilization (
 su* products by ,/ates1 local          
gov]nm5ts1 & o!r cov]$ entities to      
supplem5t or replace gov]nm5t assi/ance 
?r\gh private options4  7#e7 ,data %>+  
requirem5t ,a cov]$ entity receiv+ grant
 fund+ "u ?is section %all be requir$ to
 provide appropriate & reasonable data  
to ! ,comptroll] ,g5]al on ! p]=mance ( 
! community-bas$ cata/rophe insurance   
product design$1 develop$1 facilitat$1  
or implem5t$ ) funds f ?is section to   
support report+ requirem5ts "u ?is      
subsection4 ,no?+ 9 ?is section %all    
require disclosure ( propriet>y1 trade  
secret1 or confid5tial insur]1 re9sur]1 
or cata/rophe-model+ in=mation4  7#f7   
,consultation ,9 conduct+ ea* /udy      
requir$ "u p>agraph 7#a71 ! ,comptroll] 
,g5]al %all consult )--  7,a7 !         
,national ,association ( ,insurance     

,commission]s2  7,b7 ,/ate insurance    
regulators2  7,c7 ! ,f$]al ,insurance   
,(fice ( ! ,dep>tm5t ( ! ,treasury2 &   
7,d7 recipi5ts ( grants aw>d$ "u ?is    
section4  7i7 ,def9itions ,9 ?is        
section3 7#a7 ,adm9i/rator ,! t]m       
,adm9i/rator means ! ,adm9i/rator ( !   
,f$]al ,em]g5cy ,managem5t ,ag5cy4  7#b7
 ,alaska ,native ,corporation ,! t]m    
,alaska ,native ,corporation has ! mean+
 giv5 ! t]m ,native ,corporation 9      
section #c ( ! ,alaska ,native ,claims  
,settlem5t ,act 7#db ,u4,s4,c4 #afjb74  
7#c7 ,basis risk ,! t]m basis risk means
 ! pot5tial diff]5ce betwe5 ! actual    
loss f a natural haz>d or disa/] ev5t & 
! pay\t f a p>ametric program4  7#d7    
,community ,! t]m community means a     
def9$ geographic region encompass+ a    
gr\p ( prop]ties1 includ+ ^? own$ or    
utiliz$ by home[n]s1 r5t]s1 bus9esses1 &
 o!r relevant /akehold]s4  7#e7         
,community-bas$ cata/rophe insurance ,! 
t]m community-bas$ cata/rophe insurance 
means natural haz>d or disa/] insurance 

t is arrang$ by a cov]$ entity to       
provide cov]age to a community4  7#f7   
,cov]$ entities ,! t]m cov]$ entities-- 
7,a7 means--  7i7 ,/ates1 ,tribal       
gov]nm5ts1 or any political subdivision 
!re(2  7ii7 ,native ,hawaiian           
organizations2  7iii7 ,alaska ,native   
,corporations2  7iv7 community-bas$1    
nonpr(it organizations2 or  7v7 o!r     
relevant /akehold]s z id5tifi$ by !     
,adm9i/rator ) suffici5t au?ority to    
facilitate or (f] cov]age ( cata/rophe  
insurance = a gr\p ( prop]ties2 &  7,b7 
%all1 to ! ext5t a cov]$ entity (f]s1   
issues1 und]writes1 adm9i/]s1 or o!rwise
 be>s insurance risk1 only include      
entities describ$ 9 subp>agraph 7a7 t   
are au?oriz$ to d s "u applicable ,/ate 
insurance laws & regulatory requirem5ts4
  7#g7 ,native ,hawaiian organization ,!
 t]m ,native ,hawaiian organization--   
7,a7 means an organization t--  7i7     
s]ves & repres5ts ! int]e/s ( ,native   
,hawaiians2  7ii7 provides s]vices to   
,native ,hawaiians2 &  7iii7 has        

exp]tise 9 ,native ,hawaiian affairs2 & 
7,b7 includes ,native ,hawaiian         
organizations regi/]$ ) ,(fice ( ,native
 ,hawaiian ,relations ( ! ,dep>tm5t ( ! 
,int]ior4  7#h7 ,secret>y ,! t]m        
,secret>y means ! ,secret>y ( ,homel&   
,security4  7#i7 ,tribal gov]nm5t ,! t]m
 ,tribal gov]nm5t means ! recogniz$     
gov]n+ body ( an ,indian ,tribe4  7j7   
,pres]vation ( ,/ate au?ority ,no?+ 9   
?is ,act1 includ+ any grant condition1  
guidance1 program requirem5t1 or o!r    
action tak5 pursuant to ?is ,act1 %all  
be con/ru$ to preempt1 sup]s$e1 impair1 
or o!rwise affect ! application ( ,/ate 
insurance laws or ! au?ority ( a ,/ate  
insurance regulator to regulate !       
bus9ess ( insurance4 ,to ! ext5t any    
provision ( ?is ,act relates to !       
bus9ess ( insurance1 ! ,act ( ,m>* #i1  
#aide 7commonly kn[n z !                
,mc,carran-,f]guson ,act7 %all apply4   
,no provision ( ?is ,act %all be con/ru$
 to au?orize any ,f$]al dep>tm5t1 ag5cy1
 (fic]1 employee1 contractor1 grantee1  

or program adm9i/rator to approve       
insurance products1 e/abli% insurance   
rates1 lic5se insur]s or produc]s1      
approve policy =ms1 regulate claims     
h&l+1 e/abli% m>ket conduct /&>ds1 or   
o!rwise ex]cise au?ority res]v$ to ,/ate
 insurance regulators "u applicable     
,/ate laws & regulatory requirem5ts4    
7k7 ,au?orization ( appropriations ,!re 
is au?oriz$ to be appropriat$ to !      
,secret>y #bj1jjj1jjj = ea* ( fiscal    
ye>s #bjbg ?r\gh #bjca to c>ry out !    
grant program e/abli%$ "u subsection    
7a74