Commission on Natural Disaster Risk Management and Insurance Act

This bill establishes an independent, nonpartisan Commission on Natural Disaster Risk Management and Insurance to study how the United States can better manage risks and financial costs from natural disasters. The Commission would consist of 26 members appointed by congressional leaders and committee chairs, including two state insurance commissioners, who would serve without pay and meet to conduct assessments. Its main duties include examining current disaster risks, insurance availability and affordability, building codes, and various risk-sharing mechanisms like catastrophe bonds and alternative insurance products. After two years, the Commission must submit a detailed report with findings and recommendations to relevant congressional committees before it is dissolved.