Expressing the sense of the Congress that the Federal Government should develop a comprehensive program regarding natural disasters, require individuals and businesses in disaster prone areas to purchase insurance for natural disasters, and create a Federal reinsurance program to minimize the associated risks to insurance companies.

Declares that it is the sense of the Congress that the Federal Government should: (1) with assistance from State and local officials, develop and implement a comprehensive program to prevent further exorbitant spending on assistance relating to natural disasters; (2) require individuals and businesses in areas that have a high risk of experiencing natural disasters to purchase comprehensive insurance to cover the high cost of damages resulting from such disasters as flooding, earthquakes, and hurricanes; and (3) create a Federal reinsurance program that would minimize the financial risk incurred by insurance companies that provide insurance in areas that have a high risk of experiencing natural disasters.