Between December 2025 and April 2026, the Yale Law Journal, Brookings' Hamilton Project, and the Levy Economics Institute each proposed some version of a federal property reinsurer. Brookings' is the most concrete: "US Re," a federal entity selling reinsurance to homeowners insurers at prices reflecting actual catastrophic risk, using the government's borrowing advantage to stabilize a market where premiums rose 28 percent in seven years. The mechanism would backstop state residual markets and mutualize catastrophic losses nationally.
The proposals keep arriving. The institutional silence holds. No FHFA director, Fed governor, or Senate Banking chair has endorsed federal property reinsurance. Senator Schiff's INSURE Act has no Republican co-sponsors. To propose this publicly is to concede that private insurance markets are failing structurally, that geography now determines who absorbs the cost, and that Washington must accept new fiscal exposure. Each concession is politically poisonous. So the conversation advances in think tanks while the people with legislative standing watch.