WASHINGTON–Republican presumptive presidential candidate JohnMcCain voiced opposition to a bill proposing a national risk poolfor natural catastrophes, and a Florida Democratic congressmanrebuked him for his comments.

The issue arose yesterday, when the Arizona senator, whiletraveling on his campaign bus in Florida, said while he sympathizeswith homeowners battered by soaring insurance costs, he was notprepared to endorse a national risk pool as a way to bring thoseprices down.

Instead, Sen. McCain said, states threatened by the stormsshould form regional alliances to protect themselves.

He also called support for the bill by the presumptive Democratpresidential nominee, Illinois Sen. Barack Obama, “eithermisleading or misinformed.”

That brought an immediate response from Rep. Tim Mahoney,D-Fla., co-author of legislation establishing such a program, the“Homeowners Defense Act of 2007,” H.R. 3355.

Mr. Mahoney's bill would allow states to pool catastrophe risksand then transfer them to the private market through the sale ofcatastrophe bonds or purchase of reinsurance.

In his comments, Rep. Mahoney said Sen. McCain “appears to bemisinformed about this issue that is so critical for Floridians,”and asked him to meet with the broad coalition that supportsit.

He said the bill would make homeowners insurance affordable byexpanding the private market for reinsurance.

According to Mr. Mahoney, the measure will also “significantlylower homeowners insurance premiums and ensure that those statesthat voluntarily participate will have the money to get familiesback in their homes helping our communities.”

The bill would also establish a National Homeowners InsuranceStabilization Program to provide low-interest federal loans tostates impacted by severe natural disasters.

The bill passed the House in November 2007, 258-155, but has nosupport in the Senate.

An alternative, adding wind coverage to the National FloodInsurance Program, also passed the House last November as H.R.3121. But efforts to add it to the Senate version of H.R. 3121 inMay failed decisively, 73-19.

Congress is now seeking to reconcile the two versions of thebill reauthorizing and reforming the NFIP. Current authorizationexpires Sept. 30.