On Thursday, California’s two Democratic Senators, Barbara Boxer and Dianne Feinstein, introduced the National Hazards Risk Reduction Act.
According to a press release, their legislation “will help improve our preparedness for earthquakes and violent windstorms, including supporting research into advance warning systems, improved building codes and other efforts to reduce risks and damage from natural disasters.”
The legislation “reauthorizes the National Earthquake Hazards Reduction Program (NEHRP), which assesses new and existing earthquake hazards, improves building codes and works to decrease the damage of seismic activity by assessing our overall vulnerability.”
According to The Hill, they also introduced a bill “that would lower the cost of earthquake insurance.”
The insurance bill, S. 637, would allow nonprofit insurance programs like the California Earthquake Authority to use federal loan guarantees to lower the cost of earthquake insurance.