Insurer groups reacted cautiously to legislation introduced by two freshman members of Congress to allow high-risk states to pool catastrophe risks, while still making use of the private insurance market.

Reps. Ron Klein, D-Fla., and Tim Mahoney, D-Fla., introduced the bill to help stabilize the catastrophe insurance market without adding to the taxpayers’ burden. The Homeowners Defense Act of 2007 has the support of 35 members of Congress, representing 20 states, the sponsors said.

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