,i #aaith ,,congress #b;d ,session ,h4 ,r4 #hdci ,,in ,,the ,,house ,,of ,,representatives ,april #bb1 #bjbf,mr4 ,carbajal 7for himself1 ,mr4 ,evans of ,colorado1 ,mr4 ,carter of ,louisiana1 and ,mr4 ,ezell7 introduced the following bill2 which was referred to the ,committee on ,transportation and ,infrastructure1 and in addition to the ,committee on ,financial ,services1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to establish a nonpartisan commission on natural disaster risk management1 insurance1 and other financial and economic protections1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,commission on ,natural ,disaster ,risk ,management and ,insurance ,act4 #b4 ,establishment ,there is established an independent1 nonpartisan ,commission on ,natural ,disaster ,risk ,management and ,insurance 7in this ,act referred to as the ,commission74 #c4 ,membership and structure 7a7 ,appointment ,the ,commission shall be composed of-- 7#a7 #h members who shall have general knowledge and expertise in insurance1 reinsurance1 insurance regulation1 policyholder concerns1 emergency management1 risk management1 public finance1 financial markets1 actuarial analysis1 flood mapping and planning1 structural engineering1 building standards1 land use planning1 natural disasters1 meteorology1 seismology1 environmental issues1 quantitative catastrophic risk modeling1 or other pertinent qualifications1 of which-- 7,a7 #b members shall be appointed by the majority leader of the ,senate2 7,b7 #b members shall be appointed by the minority leader of the ,senate2 7,c7 #b members shall be appointed by the ,speaker of the ,house of ,representatives2 and 7,d7 #b members shall be appointed by the minority leader of the ,house of ,representatives2 7#b7 #h members who shall have knowledge and expertise in insurance1 reinsurance1 policyholder concerns1 risk management1 financial markets1 urban development or other pertinent financial services or housing qualifications1 of which-- 7,a7 #b members shall be appointed by the ,chair of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 7,b7 #b members shall be appointed by the ,ranking ,member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 7,c7 #b members shall be appointed by the ,chair of the ,committee on ,financial ,services of the ,house of ,representatives2 and 7,d7 #b members shall be appointed by the ,ranking ,member of the ,committee on ,financial ,services of the ,house of ,representatives2 7#c7 #h members who shall have knowledge and expertise in disaster response and preparedness1 emergency management1 public financing1 structural engineering1 building standards1 and other pertinent government response and investment qualifications1 of which-- 7,a7 #b members shall be appointed by the ,chair of the ,committee on ,transportation and ,infrastructure of the ,house of ,representatives2 7,b7 #b members shall be appointed by the ,ranking ,member of the ,committee on ,transportation and ,infrastructure of the ,house of ,representatives2 7,c7 #b members shall be appointed by the ,chair of the ,committee on ,homeland ,security and ,governmental ,affairs of the ,senate2 and 7,d7 #b members shall be appointed by the ,ranking ,member of the ,committee on ,homeland ,security and ,governmental ,affairs of the ,senate2 and 7#d7 #b members who shall be ,state insurance commissioners1 to be appointed by a selection process determined by the ,state insurance commissioners4 7b7 ,limitations ,members of the ,commission appointed under-- 7#a7 subsection 7a77#a7 through 7a77#c7 shall not be officers or employees of the ,united ,states ,government or any ,state government2 and 7#b7 subsection 7a77#d7 shall not be from the same political party4 7c7 ,period of appointment 7#a7 ,in general ,each member of the ,commission shall-- 7,a7 be appointed not later than #cj days after the date of the enactment of this ,act2 and 7,b7 serve for the duration of the ,commission4 7#b7 ,vacancies ,a vacancy on the ,commission-- 7,a7 shall not affect the powers and duties of the ,commission2 and 7,b7 shall be filled in the same manner as the original appointment4 7d7 ,basic pay ,members of the ,commission shall serve without pay4 7e7 ,quorum 7#a7 ,majority ,a majority of the members of the ,commission shall constitute a quorum1 but a lesser number1 as determined by the ,commission1 may hold hearings4 7#b7 ,approval actions ,all recommendations and reports of the ,commission required by this ,act shall be approved only by a majority vote of all of the members of the ,commission4 7f7 ,chairperson ,the ,commission shall1 by majority vote of all of the members of the ,commission1 select #a member of the ,commission to serve as the ,chairperson of the ,commission4 7g7 ,meetings ,the ,commission shall meet at the call of the ,chairperson of the ,commission or a majority of the members of the ,commission4 7h7 ,information 7#a7 ,access 7,a7 ,in general ,the ,commission may enter into information-sharing agreements with ,federal1 ,state1 local and ,tribal government entities related to relevant information1 including nonpublicly available data4 7,b7 ,limitation ,the ,commission may not enter into an information sharing-agreement described in subparagraph 7,a7 with respect to information that contains personal identifiable information4 7#b7 ,confidentiality 7,a7 ,retention of privilege ,the sharing or submission of any nonpublicly available data and information to the ,commission shall not constitute a waiver of1 or otherwise affect1 any privilege arising under ,federal or ,state law 7including the rules of any ,federal or ,state court7 to which the data or information is otherwise subject4 7,b7 ,continued application of prior confidentiality agreements ,any requirement under ,federal or ,state law to the extent otherwise applicable1 or any requirement pursuant to a written agreement in effect between the original source of any nonpublicly available data or information and the source of such data or information to the ,commission1 regarding the privacy or confidentiality of any data or information in the possession of the source to the ,commission1 shall continue to apply to such data or information after the data or information has been provided to the ,commission4 7#c7 ,limitation ,nothing in this ,act shall be construed to-- 7,a7 require any ,federal1 ,state1 local or ,tribal government agency to share data or information to the ,commission2 7,b7 authorize the ,commission to require data or information from any stakeholder2 or 7,c7 allow any ,federal1 ,state1 local or ,tribal government to collect information for which they do not already have for the sole purpose of the work of the ,commission4 7i7 ,gifts ,the ,commission may not receive gifts to assist it in carrying out its duties without a specific authorization4 #d4 ,duties of the commission 7a7 ,assessment ,the ,commission shall examine the risks posed to the ,united ,states 7both nationally and to individual ,states1 localities1 tribes and other geographic areas7 by natural disasters and means for mitigating the risks and financial costs associated with losses caused by natural disasters1 including the assessment of-- 7#a7 the current exposure of the ,united ,states to natural disasters1 including wildfires1 hurricanes1 earthquakes1 volcanic eruptions1 tsunamis1 severe storms 7including tornados1 hail1 and damaging winds71 extreme heat1 winter storms1 flooding1 droughts1 and other natural disasters2 7#b7 demographic trends1 including population migration to high-risk areas and the associated development of the built environment1 and the impact such trends could have on the cost of losses inflicted by future natural disasters2 7#c7 the current efforts of ,states1 communities1 and individuals to mitigate their natural disaster risks1 including the affordability and effectiveness of such mitigation2 7#d7 the impact and benefits of strengthened land use regulations and building codes in areas at high risk for natural disasters1 and methods to strengthen enforcement of structural mitigation and vulnerability reduction measures1 such as zoning and building code compliance2 7#e7 the role of ,federal1 ,state1 and local governments in providing incentives for feasible risk mitigation efforts2 7#f7 the current condition of1 as well as the outlook for1 the availability and affordability of property and casualty insurance in all regions of the country and an analysis of factors that may be adversely impacting such availability and affordability2 7#g7 the impact of ,federal and ,state laws1 regulations1 and policies 7including rate regulation1 market access requirements1 reinsurance1 accounting and tax policies1 ,state residual markets1 and ,state disaster funds7 on-- 7,a7 the affordability and availability of insurance for losses resulting from natural disaster2 7,b7 the capacity of the private insurance market to cover losses resulting from natural disasters2 7,c7 the commercial and residential development of high-risk areas2 and 7,d7 the costs of natural disasters to ,federal and ,state taxpayers2 7#h7 the present and long-term financial condition of ,state residual markets and natural disaster funds in high-risk regions1 including the likelihood of insolvency following a natural disaster1 the concentration of risks within such funds1 the reliance on post-event assessments and ,state funding1 and the adequacy of rates2 7#i7 the various risk-sharing mechanisms for natural disasters 7including the private insurance and reinsurance markets1 ,state residual insurance markets1 catastrophe bond markets1 and government insurance programs7 and the relevant benefits1 risks and practices for providing insurance protection to different sectors of the population of the ,united ,states2 7#aj7 the role that innovation in financial services could play in improving the financial risk-sharing of the costs of natural disasters1 specifically addressing measures that could foster the development of financial products designed to cover natural disaster risk1 such as alternative risk transfer mechanisms1 including parametric insurance and catastrophe bonds2 7#aa7 whether1 and how1 such risk-sharing mechanisms can be modified to resolve key obstacles currently impeding broader take-up rate of catastrophic risk management and financing2 7#ab7 the ability of the ,united ,states private insurance market to cover insured losses caused by natural disasters1 including an estimate of the maximum amount of insured losses that could be sustained during a single year and the probability of natural disasters occurring in a single year that would inflict more insured losses than the ,united ,states insurance and reinsurance markets could sustain2 7#ac7 the need for financial feasibility and sustainability of a national1 regional1 or other cooperation designed to promote adequate property and casualty insurance take-up1 including in current impacted or constrained markets2 7#ad7 the appropriate role1 if any1 for the ,federal ,government in the stabilization of property and casualty insurance1 reinsurance1 or other impacted markets following catastrophic loss events2 7#ae7 methods to promote the take-up of flood insurance policies through the ,national ,flood ,insurance ,program to reduce financial losses caused by natural disasters in the uninsured sectors of the population of the ,united ,states2 and 7#af7 any unique needs of low-income communities to promote risk reduction and property and casualty insurance take-up in such communities4 7b7 ,consultation and public engagement ,in conducting the assessments required in subsection 7a71 the ,commission shall-- 7#a7 coordinate with ,state insurance commissioners1 both individually and collectively1 on all insurance matters2 7#b7 consult with relevant ,federal agencies1 as described in subsection 7c71 on matters related to the prevalence and cost of ,federal financial assistance related to losses resulting from natural disasters2 and 7#c7 engage with relevant public stakeholders1 including-- 7,a7 insurers1 reinsurers1 and insurance agents and brokers2 and 7,b7 capital market participants with a focus on alternative risk transfer mechanisms4 7c7 ,executive branch assistance ,the heads of the following agencies shall advise and consult with the ,commission on matters within their respective areas of responsibility3 7#a7 ,federal ,emergency ,management ,agency4 7#b7 ,u4,s4 ,army ,corps of ,engineers4 7#c7 ,national ,oceanic and ,atmospheric ,administration4 7#d7 ,department of ,housing and ,urban ,development4 7#e7 ,department of ,housing and ,urban ,development4 7#f7 ,federal ,housing ,finance ,agency4 7#g7 ,federal ,housing ,administration4 7#h7 ,department of the ,treasury4 7#i7 ,department of ,agriculture4 7#aj7 ,environmental ,protection ,agency4 7#aa7 ,any other agency1 as determined by the ,commission4 #e4 ,report ,not later than #b years after the date of the enactment of this ,act1 the ,commission shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate1 the ,committee on ,financial ,services of the ,house of ,representatives1 ,committee on ,homeland ,security and ,governmental ,affairs of the ,senate1 and the ,committee on ,transportation and ,infrastructure of the ,house of ,representatives a report that contains-- 7#a7 a detailed statement of the findings and assessments conducted by the ,commission pursuant to section #d2 and 7#b7 any recommendations for legislative1 regulatory1 administrative1 or other actions at the ,federal1 ,state1 or local levels that the ,commission considers appropriate to address the issues described in section #d4 #f4 ,termination 7a7 ,in general ,the ,commission shall terminate #ij days after the date on which the ,commission submits the report under section #e4 7b7 ,data and information ,upon the termination of the ,commission1 all data and information in possession of the ,commission and its members shall be destroyed or returned to the respective owners of such data and information4 #g4 ,authorization of appropriations ,there are authorized to be appropriated to the ,commission such sums as may be necessary to carry out this ,act1 to remain available until expended4