Resolution 147-2006
Commissioner McCoy
RESOLUTION NO. 147-2006
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY REQUESTING THE GOVERNOR
PROVIDE IMMEDIATE RELIEF FROM WINDSTORM RATE
INCREASES FOR RESIDENTS OF MONROE COUNTY.
WHEREAS, Monroe County windstorm rates are currently double and in many cases
triple the rates of all other counties in the State of Florida; and
WHEREAS, many homeowners with a mortgage on their properties are having difficulty
paying windstorm premiums that in many cases exceed $10,000 and are in fear oflosing their
homes; and
WHEREAS, the Monroe County Pilot Project has determined that Monroe County is a
non-competitive market for Citizens Insurance; and
WHEREAS, non-competitive market factors such as the Industry Expense Equalization
Factor or IEFF (costs for doing business in a competitive market) should not be included in
Monroe County rates; and
WHEREAS, Monroe County is now in the process of hiring a private actuary to review
Citizen's Property Insurance rate filing for Monroe County; and
WHEREAS, since 2002 rates for Monroe County residents have increased at an alarming
rate. An actual windstorm bill for a home on Packer Street in Key West demonstrates the
increase from $1,291 in 2002 to $11,755 in 2006; and
WHEREAS, 2006 windstorm deductibles in Monroe County range from close to $10,000
to over $26,000. In addition to paying high premiums these high deductibles render the
insurance useless to the homeowner for all but the most massive of storms; and
WHEREAS, these issues are currently under review at a state level; therefore
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
MONROE COUNTY, FLORIDA THAT:
Section 1: The BOCC urges Governor Jeb Bush to allow Monroe County residents to
pay their Citizens Insurance windstorm premiums at last year's rates until such time as all the
factors have been considered and the actuaries have had time to arrive at fair and equitable
conclusions, or by any means in which the Governor deems appropriate to provide immediate
relief from exorbitant windstorm insurance premiums to the residents of Monroe County.
PASSED AND ADOPTED by the Board of County Commissioners of Monroe County,
Florida at a regular meeting of said Board held on the 15th day of March, 2006.
Mayor McCoy Yes
Mayor Pro Tern Nelson Yes
Commissioner Neugent Yes
Commissioner Rice Yes
Commissioner Spehar Yes
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ATTEST: Danny L. Kolhage, Clerk
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Deputy Clerk
BOARD OF COUNTY COMMISSIONERS
OF MONROE COUNTY, FLORIDA
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Mayor Charles "Sonny" McCoy
By
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Date