House Memorial HM 4003 urges the United States Congress to establish a federal catastrophe risk pool aimed at spreading the risk associated with natural disasters and reducing property insurance premiums. The memorial highlights the increasing frequency and severity of catastrophic events, such as hurricanes, which have led to significant financial losses and rising insurance costs, particularly in Florida. It notes the challenges faced by residents due to the insolvency of multiple insurance companies and the growing reliance on Citizens Property Insurance Corporation, which has seen a surge in policies and is seeking a rate increase to mitigate its financial risks.

The resolution emphasizes the need for federal support to address the financial burdens placed on states and residents following federally declared natural disasters. It calls for the creation of a risk pool that would provide assistance to both insurance companies and residents when disasters occur, thereby alleviating some of the financial strain caused by rising insurance premiums. The memorial concludes by directing the Secretary of State to send copies of this resolution to key federal officials and members of Florida's congressional delegation.