Facilitating New Affordable Homeowners’ Insurance Options


Resolved that the National Association of Home Builders (NAHB) urge Congress to explore the creation of a new “All Perils” reinsurance fund to serve as a backstop for private insurance companies in the event of catastrophic disasters (those where total loss is over $1 billion in claims in a 12-month period).

Further resolved that NAHB petition the National Association of Insurance Commissioners to recognize the challenges associated with the lack of available and affordable homeowners’ insurance and multifamily property insurance and its impact on homeownership and affordability of rents, and urge them to take the necessary steps to address this problem.

Recommended that NAHB create a Working Group to explore the possibility of partnering with an insurer or facilitating the formation of an insurance program that would be unique to NAHB members’ home owner customers whose homes are built to current building codes or above and provides preferred coverage and preferred premium rates. This Working Group will be made up of a National Area Chair, a State Representative, a Senior Officer, a member of the Budget & Finance Committee, a member of the Construction, Codes & Standards Committee, and general members familiar with property and casualty insurance.

Further recommended that NAHB regularly report on the progress of the actions directed herein to the membership.

Resolution originally adopted: 2023.2 No. 1 Facilitating New Affordable Homeowners’ Insurance Options

Committee with primary jurisdiction: Federal Government Affairs

Full Resolution The full text of this resolution is available for download.