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HomeMy WebLinkAbout2007-001RESOLUTION 2007-001 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, URGING THE FLORIDA STATE LEGISLATURE TO ADDRESS IN THE SPECIAL SESSION BEGINNING JANUARY 16, 2007, THE EXTREME INSURANCE RATE INCREASES IMPOSED UPON THE RESIDENTS AND BUSINESS OWNERS IN FLORIDA. WHEREAS, the residents and business owners of Indian River County have been burdened with insurance rate increases that affect the economic welfare of the County, and WHEREAS, residents and business owners throughout the State of Florida are struggling with drastic increases with the cost of insurance; and WHEREAS, soaring insurance rates have forced some senior citizens on fixed incomes to forego insurance coverage and young families are losing their homes or facing extraordinary financial challenges to remain homeowners, while business owners . are faced with decreasing profits and increased operating costs; and WHEREAS, the 2006 Florida Legislature passed Senate Bill 1980, which imposed a requirement on Citizens Property Insurance Corporation to charge policy holders with the cost of reinsurance to cover the 70 year storm event; and WHEREAS, Indian River County, and neighboring counties on the Treasure Coast, are subject to additional insurance rate increases due to this reinsurance requirement; and WHEREAS, the Governor's Property and Casualty Insurance Reform Committee has proposed recommendations for consideration by the Florida Legislature to address the insurance crisis; and WHEREAS, a legislative special session is necessary to amend SB 1980 and to adopt the Committee's recommendations so as to provide expeditious relief of the insurance crisis to the residents and business owners of Florida, F:Wttorney\Bill\Resolutions\adopt governors insurance reform comm.doc RESOLUTION 2007-001 NOW THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Indian River County, that: 1. The Board of County Commissioners of Indian River County requests that all other Florida Counties join with Indian River County in urging the Florida Legislature to amend SB 1980 in the special session beginning January 16, 2007, and to address the following issues: • the burdensome requirement for Citizens Property Insurance Corporation to charge policy holders rates that include reinsurance to cover the 70 year storm event, and • adoption of the recommendations of the Governor's Property and Casualty Insurance Reform Committee. This resolution was moved for adoption by Commissioner Sandra L. Bowden, and the motion was seconded by Commissioner Wesley S. Davis, and upon being put to a vote, the vote was as follows: Chairman Gary C. Wheeler Vice Chairman Sandra L. Bowden Commissioner Wesley S. Davis Commissioner Joseph E. Flescher Commissioner Peter D. O'Bryan yes yes yes yes yes The Chairman thereupon declared the resolution duly passed and adopted this 9th day of January, 2007. Attest: J. K. Barton, Clerk By—Sz o� ��•`"'-_? Deputy Clerk Approved as to form and Legal Sufficiency William K. DeBraal Assistant County Attorney INDIAN RIVER COUNTY, FLORIDA by its Board of County"Commissioners By C. Wheeler,;Chairman BCC Approved: January 9, 2007 F:\Attorney\Bill\Resolutions\adopt governors insurance reform comm.doc