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Code · BILL · 118th Congress · H.R. 3525 (Introduced in House) — To establish a Natural Disaster Risk Reinsurance Program, and for other purposes. · Sec. 4

Sec. 4. General authority

206 words·~1 min read·/bill/118/hr/3525/ih/section-4

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The Secretary shall have the powers and authorities necessary to carry out the Program, including authority— to investigate and audit all claims for a covered event in a State for which payments have been made by the Secretary under the Program; and to prescribe regulations and procedures to effectively administer and implement the Program. The Secretary shall consult with the National Association of Insurance Commissioners, as the Secretary determines appropriate, concerning the Program.
The Secretary may employ persons or contract for services as may be necessary to implement the Program. The Secretary shall annually compile information on the premium rates of insurers for covered insurance for the preceding year. To the extent that such information is not otherwise available to the Secretary, the Secretary may require each insurer to submit to the National Association of Insurance Commissioners premium rates for covered insurance, as necessary to carry out paragraph (1), and the National Association of Insurance Commissioners shall make such information available to the Secretary.
The Secretary shall make information compiled under this subsection available to the Congress, upon request. There are hereby appropriated, out of funds in the Treasury not otherwise appropriated, such sums as may be necessary to pay reasonable costs of administering the Program.
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