Item R4 R.4
County f � .�� ",�, 1 BOARD OF COUNTY COMMISSIONERS
Mayor Craig Cates,District 1
Mayor Pro Tem Holly Merrill Raschein,District 5
The Florida Keys
Michelle Lincoln,District 2
James K.Scholl,District 3
David Rice,District 4
County Commission Meeting
April 19, 2023
Agenda Item Number: R.4
Agenda Item Summary #12015
BULK ITEM: Yes DEPARTMENT: County Administrator
TIME APPROXIMATE: STAFF CONTACT: Lisa Tennyson (305) 292-4444
10:00 AM
AGENDA ITEM WORDING: Presentation by Fair Insurance Rates of Monroe (FIRM) on wind
and flood insurance issues and approval of $50,000 in funding to FIRM for property insurance
advocacy. Source of Funds Ad Valorem.
ITEM BACKGROUND: The preservation of affordable wind and flood insurance for Monroe's
stakeholders is a long-standing County Commission priority. Fair Insurance Rates for Monroe
County advocates for fair, equitable and affordable property insurance coverage for homeowners,
residents, and business owners, which protects property values and contributes to housing
affordability. FIRM is presenting its annual update regarding Citizens' wind insurance and the
National Flood Insurance Program.
FIRM is also making its annual request for $50,000 in funding to support for its ongoing advocacy
on behalf of Monroe's wind and flood insurance ratepayers. Ad valorem tax dollars will be used to
fund the request.
Fair Insurance Rates for Monroe was created in 2006 to ensure fair insurance rates for Monroe and
the Florida Keys and was the first organized group of community activists to bring insurance
inequities to the attention of the Florida Office of Insurance Regulation, the Florida Legislature,
Cabinet and Governor, and to the Florida delegation to the US Congress. The grassroots
organization has grown from 32 active members to over 3,000 and has received, in addition to
Monroe County, financial support from the cities of Key West, Marathon, Islamorada, and Key
Colony Beach, Real Estate associations and Chambers of Commerce.
PREVIOUS RELEVANT BOCC ACTION: Approval of annual funding of$50,000 in FY `22,
`21, and `20.
CONTRACT/AGREEMENT CHANGES:
n/a
Packet Pg. 3560
R.4
STAFF RECOMMENDATION: Approval.
DOCUMENTATION:
FIRMFundingReq.FY2022-23
MonroeCoB0CC.Aprill9
FINANCIAL IMPACT:
Effective Date: n/a
Expiration Date: n/a
Total Dollar Value of Contract: $50,000
Total Cost to County: $50,000
Current Year Portion:
Budgeted: Yes
Source of Funds: 001-CC 045907
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: No If yes, amount:
Grant: No
County Match: No
Insurance Required: No
Additional Details:
REVIEWED BY:
Bob Shillinger Completed 04/11/2023 10:16 AM
Budget and Finance Completed 04/11/2023 12:53 PM
Lindsey Ballard Completed 04/11/2023 1:28 PM
Board of County Commissioners Pending 04/19/2023 9:00 AM
Packet Pg. 3561
R.4.a
April 19, 2023
Mayor Craig Cates
Mayor Pro Tern Holly Merrill Raschein
Commissioner David Rice
Commissioner Michelle Lincoln
Commissioner Jim Scholl
Dear Mayor Cates and County Commissioners
Fair Insurance Rates in Monroe (FIRM) is requesting funding for FY 2022-2023 to continue its mission to fight
for fair windstorm and flood insurance rates for the residents of Monroe County. FIRM is now in its 17t" year
of representing Monroe County in the tireless fight against ever-increasing insurance premiums.
FIRM's accomplishments in FY 2021-2022:
M
cN
• FIRM engaged lobbyists from The Southern Group to work towards a Monroe County carve-out to
return the 10% rate cap on Citizens Rate increases and to extend that rate cap to secondary homes N
used as annual rentals for locals. The roll back was not successful; however, FIRM was successful in N
keeping second homes used for workforce rentals under the glidepath and continues to push for that
rollback.
• FIRM continues to work towards increasing the replacement value cost on homes for Monroe County.
A study was begun by the Office of Insurance Regulation (OIR) but was paused due to Hurricane Ian.
The lobbyists from The Southern Group are continuing to push for this increase.
• FIRM officers and/or its representatives attended virtually and in person and/or testified at:
• Florida Keys Day 2022 —met with CFO Patronis, Insurance Commissioner David Altmaier, and
Citizens Property Insurance Corp. Legislative Director Christine Ashburn
• Citizens Board of Governors Meetings
• Monroe County Delegation meeting
• Florida Realtors District 4 Town Hall Meeting
• FIRM continued work to develop and gain approval of revised windstorm insurance mitigation forms
that would correctly recognize Monroe County building codes and provide for associated windstorm
premium credits.
• FIRM maintains a relationship with Consumer Advocate Tasha Carter who spoke on FIRM's behalf
during the 2022 rate hearing. FIRM attended the hearing virtually to share concerns with Florida's
Insurance Commissioner David Altmaier and his staff. A successful Call to Action to FIRM's members
resulted in more than 150 emails from Monroe County residents included in the hearing's public
record.
Packet Pg. 3562
R.4.a
""RM
• FIRM offers support to residents applying for the My Safe Florida Home Program and works with ICA
Carter to identify concerns in its first year of implementation.
• Worked with several legal and insurance professionals to continue discussions about the viability of a
Monroe County Mutual Insurance Corporation.
• Continued the partnership of the 2020 Home Elevation Project to support and assist Christine Hurley
and staff at the Monroe County Land Authority with the FEMA Flood Mitigation Assistance Grants.
FIRM's support for the grant program continues into this year's application period, as well.
• FIRM's participation in Community Rating System (CRS) outreach and service on the PPI Committee
contributed to Monroe County's achievement of Class 3 status giving residents a 35% discount on flood
insurance. Since 2017 the CRS discount has saved Monroe County residents over $26 million.
• Continued membership in the Coalition for Sustainable Flood Insurance based in Louisiana to M
understand the potential impact of the most significant overhaul to the NFIP program since its
creation, Risk Rating 2.0. The Coalition includes stakeholders from coastal communities around the
country who share the same concerns about FEMA's rating methodology. N
N
• FIRM Board Member Chris Rivett attended Leadership Monroe County's inaugural Florida Keys Day in
Washington DC including a lengthy meeting with FEMA representatives, and meetings with the staff of
Florida's Legislative Delegation.
• Created and maintained a web page dedicated to Risk Rating 2.0 including a live dashboard that allows
insurance agents to submit rated properties for comparative analysis.
• Created a Hurricane Ian resource page for residents on FIRM's website.
c�
• Served as a resource for policyholders who have questions and concerns about windstorm insurance,
flood insurance, mitigation methods, flood maps, the claims process and storm preparedness.
Moving forward...
FIRM's lobbyists continue to promote FIRM's legislative agenda in Tallahassee during the 2023 Legislative session:
• Carve-out for Monroe County residents from Citizens flood insurance requirement, and at the very
least are confident that we'll get a carve-out for condo units
• Protections for Monroe County policyholders who are moved to take-out companies
• Return the 10% rate cap to Monroe County
• Increase the coverage cap on Citizens policies for Monroe County
Packet Pg. 3563
R.4.a
""RM
Additionally, FIRM is working to have a Monroe County resident appointed to serve on the Citizens Board
of Governors.
FIRM wishes to maintain the momentum and keep the lobbyists on retainer and working towards our
goals in the event of any special sessions and in preparation for the 2024 legislative session.
FIRM plans to build on the Home Elevation Education project with more educational opportunities for
contractors and property owners in addition to continuing to collaborate with County staff on FEMA's FMA
grants. The Home Elevation Project was featured on NOAA's Digital Coast website as a case study for other
communities to follow.
FIRM remains fluid and ready to respond to needs from the community as storms, FEMA's Risk Rating 2.0,
and other unanticipated events occur. FIRM's mission is to advocate for fair and affordable property
insurance coverage and to empower residents by continually keeping them informed of changes that
affect their decisions about property insurance and mitigation. N
zl
Without FIRM, it is likely that every policyholder in the Keys would be paying at least twice as much every
year for windstorm insurance. FIRM's work has helped keep over$60 million a year in the Keys economy N
and has enabled premium savings for Monroe County residents of over$900 million dollars since 2006.
The ongoing support of the County is needed in order for FIRM to continue its state and federal level
advocacy and community education missions. We continue to be an all-volunteer Board and have been
successful in keeping our expenses minimal in that regard. We do feel that as the economic impact of
rising property insurance costs continues to affect Monroe County, FIRM's work is indispensable.
Thank you for your support in previous years.
Warm regards,
Mel Montagne
President
FIRM 1 713 Caroline St., Ste. C Key West, FL 33040
305-294-FIRM (3476)1 info@firmkeys.org I firmkeys.org
A COPY OF THE OFFICIAL REGISTRATIONS(CH43051&CH35195)AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF
CONSUMER SERVICES BY CALLING TOLL-FREE(800-435-7352)WITHIN THE STATE OR BY VISITING WWW.FloridaConsumerHelp.com.
REGISTRATION DOES NOT IMPLY ENDORSEMENT,APPROVAL,OR RECOMMENDATION BY THE STATE.
Packet Pg. 3564
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Who 'is FIRM
FIRM ( Fair Insurance Rates in Monroe
. . .
s a grassroots
on formed in
2006,
. composed of homeowners
united
excessive,residents who are
against
unaffordabte residentiat,
,
condominium ,
rates .and commercial
property insurance
What does
FIRM do?
�I�II�I II�IIIIIIIII�III�IIINIIII�IIIIIIII�IIIIIFIIII�II�IIIIIIII ��,,; P11,A�W�rs �n�rae ��un�r
fill, �11A h/�fA1f ��k resid'�nts no �rreke infiormreduuuuuu
( pg�m� imuran roverag for ��� rre
P� �hpI�4,pY,{,�grR rind'enls ;andlllllllllllllllllllllllllllllll6 dkc n about prgper[y
ms nce cover�age Mie clBirms
64l�i' Rfi � 9W"2r� wm cn Pr4CeC05 Wru��ss t�gaair�n "ani11161urm '�
CA ���N �a0 es a dllk nhrabutes A��p�r�����s
.................
Illllu
FIRM
FIRMKeys
0
e FIRM consists of two organizations ,
• FIRMI(eys - a 501 (c ) ( 3 ) whose focus is education ,
and donations are tax deductible,
• FIRM PAC - a 501 (c ) (4) whose focus is lobbying
and advocacy and donations are not tax
deductible.
f,/ I %2�J„23 / 1�,I p
r „ i /rl , 0 f 4 // 'p I iilolil��NI�oNi�IgI�IM���i I�ol ii�IlMw�u�gi I��MM iNl�lli.I��lill
M M
F1 M 'sPrinciples
e Be non - partisan
>»fRepresent all Keys residents
Suggest solutions, not just criticism
Approach the issue through discipline and analysi's
Build relationships with key players
• Citizens Property Insurance
• Office of Insurance Regutation
• Insurance Consumer Advocate
• Executive and Legistative branches
»>
�I
. �i iiiMN O, R
1 . 1 %20 1 I / 0 5 i
Monroe County-
Point of No Return
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�����II�IIICI�I�III�I�I�I�I��IIIIIIIIIIIIIIIIII �II�III�I��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII � �II��i�i��iiiiiiiiiiiiiiV�i�i ���������������������
MI ai11
��a�a�
IIIII C�� IIIIIII�IIIIIIIII�IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII ������ �� � III ��h� �i�����lu��iwfritv¢ena iiiiiii � �IIIIIIII �IIIII� � III�IIIIIIII
Senate Bill 2A
0 Eliminates Assignment of Benefits (AOB )
and one-way attorney fees
Requires insurers to settle claims in a
timely manner and also reduces the time
for an insured to file a claim
- Allows for premium discount if
policyholder consents to binding
arbitration
Most concerning provisions of the bmill
• a see •
• • ah AN• • Ah OP
® s s
The
• •
requirement is not actuarially
Allows Citizensi l iwind damage to
flood damage
Givesi mitigated l
Monroedamage
)lll;� May leave idents with no choice
underinsured
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Under the new law
Take-out offer premium is up to Required to leave ii
higherzens
than Citizens
The premium is now 20% higher Not allowed to return to Citizens
than Citizens
t
f
No limit on premium increases No recourse if carrier leaves the
state
/. // 1 i%i1 dn, 9
Two issues not
addressed in SB2
49 0 Premiums are increasing
- Coverage limits are not increasing
40
In spite of all the legislative concessions given
40 40
to the insurance industry,
not one line in all of the legislation required
rate reductions now or at some future date.
Compet 'it 'iveness
S/
During the May special session legislation was
to determine if coverage limits should be
0 introduced to require a competitiveness study
f
increased in certain parts of the state ,,
The legislature took no action , but the OR
took up the request to conduct a study of all
67 Florida Counties .
J' To date no results of the study have been
released ,
and we don ' t even know if it was
completed . m
BAR"""
„p., I / /
Restore or re uce e10 %
annual rate cap f Monroe
County
A—, rf �UlllJlllll UlllJllll1111��
Monroe County does not Monroe has consistently
contributefitable to Citizens strictestbuilding
AOB abuses that legislators payi yr million in .
and Citizens i yr claims since
rise in premiums. .
Citizens was created as an "insurer of Monroe County policyholders have paid Catastrophe models loss projections
last resort" to provide AFFORDABLE Citizens an average $50 million in do not incorporate local building
INSURANCE or areas like Monroe where profits annually. codes.
there is little competition.
ARM,
4/21!/2023 S J d e 12
2022 Spec 'lal
Legmislatmive Sessmion
G' No sales tax onMy Safe Florida Home
.
impact windows , was revived to help
doors and garage homeowners obtain
doors July 1 , 2022 - free inspections and
June 30, 2024 funding to replace
windows , doors and
roofs for homes
valued up to $500K
f/ mysafef[home. com
Nat 'ional Flood
Insurance Program
The NFIP was established in 1968 because of
r/l
the tack of availability of private flood
40
insurance
lrllThe NFIP is managed by FEMA and has three
r
components : to provide flood insurance, to
0
improve floodplain management and to
develop maps of flood hazard zones
The NFIP i' s due to be reauthorized on
September
J'
30,
Isk Rat 'in
sJFEMNs Risk Rating 2 . 0 dramatically changes
the way FEMA prices NFIP policies by
accounting for a structure 'se.
• Location
Distance to flooding sources, ground elevation , in a CRS
community or located on a barrier island
• Building characteristics
Building occupancy, construction , first floor height, unit
(condo) height, number of floors, flood openings, machinery
Et equipment
• Replacement cost and coverage
• Prior claims history
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FIRM 's concerns@ Risk Rating 2 . 0
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What 'is CRS 9E
Community Rating System or CRS is a Federal program by
which communities can earn discounts on their flood
insurance premiums .
lllllfUnincorporated Monroe County has earned a 35% discount
The Village of Istarnorada has earned 20% discount
The City of Layton has earned a 20% discount
The City of Key Colony Beach has earned a
air
% discount
The City of Key West has earned a 25% discount
rrafThe City of Marathon has earned a 20% discount
Participationin the CRS has saved Monroe County residents
over $6M on their flood 'insurance premium .
However, under
•
0 CRS credits are not being applied until full risk
rating is met,
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FIRM 2023 NFIP
m
r'ion ies
Affordabl* 11* ty
Mitigation
Increased participation
Rate structure
Program costs
Resilient communities
. . . .........
O, R ,
FIRM 's commitment to
Monroe County
FIRM 's work has resulted in over $ 900m
40 9 J"
savings in wind insurance premiums for
Monroe County residents since 2006
Without a watchdog like FIRM, how many
in this room would be able to remain in
Monroe County? How much more damage
would we have seen from Irma if folks
didn ' t have money to harden their
homes ?
FIRM People
BOARD OF DIRECTORS
Met Montagne, President Joe Walsh , Vice President
Michele White, Treasurer Erica Poole, Secretary
Wayne Carter Chris Massicotte
Linda Cunningham Caren MoreR
Bryan Hawks Tom Pakenas
Rebecca Horan Chris Rivett
Mary Houston
STAFF
Caroline Horn- Manager
Annalise Mannix - Project Manager and Consulting Engineer
4/211/2023 20 „rr%,r'i �jM'iNi�io.