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RESOLUTION NO. 2006-156 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA, URGING THE FLORIDA <br />LEGISLATURE TO CALL A SPECIAL SESSION TO STUDY AND ENACT <br />LEGISLATION ADDRESSING THE INSURANCE CRISIS IN FLORIDA. <br />WHEREAS, as homeowners' insurance policy costs have continued to rise at <br />outrageous rates; and <br />WHEREAS, insurance agents who write Citizens Property Insurance Corporation <br />(Citizens) policies reportedly receive higher commissions; and <br />WHEREAS, the commission percentage paid on various policies should be adjusted to <br />reflect a reasonable cost of insurance; and <br />WHEREAS, residential real estate closings are reportedly being cancelled every day <br />due to the high cost of insurance, leading to a loss of associated revenue generated by <br />documentary stamps; and <br />WHEREAS, the higher commissions would appear to reduce the incentive for an agent <br />to push for private industry to write homeowners' policies; and <br />WHEREAS, Citizens' goal of reducing the numbers of policies it writes is seemingly <br />failing spectacularly; and <br />WHEREAS, the quality of life of our families and seniors is declining due to costs <br />associated with higher energy costs; and <br />WHEREAS, our seniors and families are more subject to foreclosure and may have to <br />go without insurance and are being driven out of Florida because of the insurance crisis; and <br />WHEREAS, many families are also dealing with the high costs associated with the <br />increase in variable interest rate mortgages; and <br />WHEREAS, the Florida Legislature needs to be proactive by passing the "sinkhole bill" <br />(concerning insurance coverage and insurance rates) to address the issues we are now facing, <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF <br />INDIAN RIVER COUNTY that the Board hereby strongly encourages the Florida Legislature to <br />call a special session to study and enact legislation addressing the issues we are now facing. <br />The resolution was moved for adoption by Commissioner Wheeler, and the motion was <br />seconded by Commissioner Lowther, and, upon being put to a vote, the vote was as follows: <br />1 <br />