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.

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