The House on Thursday night gave bipartisan support to legislation aimed at helping coastal states with national catastrophes by pooling their catastrophic risk and transferring it to the private market through catastrophe bonds or reinsurance, but the point may be moot following a threat of a presidential veto.

The vote on the “Homeowners Defense Act of 2007,” H.R. 3355, was 258-155, propelled by solid support from members of both parties from Florida, Louisiana, California and other coastal jurisdictions.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?

Dig Deeper


Complex Claims & Litigation Forum 2023Event

Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases.

Get More Information


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.