Transcript Slide 1

F
I
R
F.I.R.M.
Fair Insurance Rates In Monroe
1st Upper Keys Informational
&
Action Meeting
Coral Shores High School
Wednesday
March 22, 2006
M
fairinsuranceratesinmonroe.com
Welcome to Tavernier
F
I
R
M
This meeting is intended to unify our efforts for fair
insurance coverage for property owners in Monroe
County. It is our goal to have every city in Monroe
County unite as Tavernier has this evening.
We are focusing on solutions.
Let’s comment in that spirit.
Please make comments brief and succinct.
This meeting will last ~1 hr.
PLEASE SILENCE CELL PHONES & PAGERS
NO SMOKING ON GROUNDS.
fairinsuranceratesinmonroe.com
Tonight’s Agenda
F
I
R
Introductions
Review FIRM mission statement
Strategic Plan
Review actions/progress to date
Questions and Answers
Adjourn
M
fairinsuranceratesinmonroe.com
Big Pine Introductions
F
I
Thank you for the invitation
Thank you to Mary Thomas
Cindy DeRocher & Teri Johnston
R
M
fairinsuranceratesinmonroe.com
Media Introductions
F
Hank Tester and Channel 6 Crew
Monica Stanny from WGMX 94.3
I
R
M
fairinsuranceratesinmonroe.com
FIRM: Mission Statement
F
We are concerned citizens
and homeowners uniting to
I stop unfair and unaffordable
property insurance
R premiums.
M
fairinsuranceratesinmonroe.com
Why are we concerned?
F
Windstorm Insurance Rates & Premiums
County
I
R
Rate per $1,000/Coverage
Premium on $500,000
Escambia
Sarasota
Charlotte
Palm Beach
Collier
Miami-Dade
$5.18-$9.76
$6.39
$7.17
$10.18-$12.41
$11.46
$11.37-$19.15
$2,590-$4,880
$3,195
$3,585
$5,090-$6,205
$5,730
$5,685-$9,575
Monroe
$20.91
$10,455
Rates went into effect at midnight 2/28/06
Chart from the Citizens Property Insurance Corporation Wind Only Manual
M
fairinsuranceratesinmonroe.com
Why are we Confused?
F
I
R
Monroe County is High Risk- #17 county
actual windstorm claims. More risk than
Punta Gorda paying $7.17/$1,000?
Monroe and Miami-Dade Counties build to
the most stringent building codes in the
state of Florida. Our structures are built to
withstand winds of over 155 mph. Areas
of Florida do not even require hurricane
shutters.
M
fairinsuranceratesinmonroe.com
FIRM Strategic Plan
F
I
R
Freeze Citizens Property rates at the 2005
level until rate setting policies can be
thoroughly investigated.
Reduce current rates for more reasonable
and affordable premiums (and
deductibles).
Streamline and improve efficiency of
claims filing, processing, and settlement
M
fairinsuranceratesinmonroe.com
FIRM Action
F
I
R
Held 7 public forums reaching over 2,000
citizens since 2/20
Website
@www.fairinsuranceratesinmonroe.com -3,560
1st time hits as of this morning.
FIRM membership now 700-Please join us
Media response
– Newspapers: The Citizen, Solares Hill, Key Noter,
Celebrate, Free Press, AP
– Radio: 92.7, WKEY, 104.1 and the Morning Mix with
Monica.
– TV: Channel 6, Fox,Comcast Channel 19
M
fairinsuranceratesinmonroe.com
FIRM Action to Date
F
I
R
M
FIRM letter writing campaign directed to:
Governor Jeb Bush
State Senator Larcenia Bullard
State Representative Ken Sorensen
Florida CFO Tom Gallagher
Chair of the Senate Insurance Committee- Rudy Garcia
Chair of the House Insurance Committee- Dennis Ross
US Senators Mel Martinez, Ileana Ros-Lehtinen and Bill
Nelson
State Insurance Consumer Advocate-Steve Burgess
State Insurance Commission-Kevin McCarty
fairinsuranceratesinmonroe.com
FIRM Progress to Date
F
I
R
Monroe county government has stepped
forward in support of FIRM and its
efforts.
County Commissioner David Rice in
conjunction with FIRM authored the
following resolution which was
unanimously approved by the BOCC on
3/15 :
M
fairinsuranceratesinmonroe.com
Rice Resolution
F
I
R
Bring Citizens Property Insurance rates
back to 2005 level while the rate setting
policies and procedures of Citizens are
evaluated.
Hire an independent Actuary to review
Citizens rate request for Monroe County.
M
fairinsuranceratesinmonroe.com
Rice Resolution
F
I
R
Hire a consultant to monitor all legislation
pertaining to windstorm insurance issues
Urge the legislation to utilize $1.5 billion in
sales tax surplus generated by hurricane
repair related purchases to offset Citizens
deficit instead of raising our rates.
Propose legislative provisions to protect
affordable rental housing (nonhomesteaded) properties.
M
fairinsuranceratesinmonroe.com
FIRM Progress
F
I
R
3/15 Public Forum in Key West
Steve Burgess-State Insurance Consumer
Advocate
“Questionable provisions of Citizens
statewide filing requesting an additional
44% rate increase.”
M
fairinsuranceratesinmonroe.com
What’s Questionable
F
I
R
M
1. Cost of Doing Business Charge
2. Charge to Accelerate a Citizens Reserve
Account.
Impact to us- Removing these 2 charges
would reduce our current rates 4% below
what we paid in 2005
Burgess has filed his findings with the
state.-Kevin McCarty
fairinsuranceratesinmonroe.com
Help in Washington
F
I
R
Law Firm of Hogan & Hartson L.L.P. in
Washington, D.C. has agreed to provide
FIRM with our own lobbyist (pro bono) to
represent the interests of all Monroe
County citizens in our battle over
inequitable windstorm insurance rates.
M
fairinsuranceratesinmonroe.com
Help in Washington
F
I
R
Our Congresswomen Ileana Ros-Lehtinen
on March 20th authored letters to
Governor Bush, Florida House of
Representative Speaker Allan Bense,
Chairman of the House of Representative
Financial Services committee Michael
Oxley and President of the Florida Senate
Tom Lee.
M
fairinsuranceratesinmonroe.com
Local FIRM Support
F
I
R
Key West City Commissions led by Mayor
Morgan McPherson drafting a resolution
similar to the counties to support the
efforts of FIRM.
Robert Cintron, Jr. from the Key West law
firm of Morgan & Hendrick is providing us
pro bono counsel on our windstorm
premium battle with Tallahassee.
M
fairinsuranceratesinmonroe.com
How Can You Be Involved?
F
I
R
Get Educated- Get your Citizens Property
Insurance Windstorm policy out and study
it.
Get Angry- Chart the rate of premium
increases since 2003 and review the hikes
in your deductible levels.
M
fairinsuranceratesinmonroe.com
Tallahassee Progress
F
I
R
On Thursday, March 30th State
Representative Ken Sorensen invited
FIRM to take part in his “windstorm
insurance in the Florida Keys” workshop in
the House of Representatives Office
Building in Tallahassee. Invitees are”
M
fairinsuranceratesinmonroe.com
Workshop Attendees
F
I
R
M
All Monroe County Officials
Insurance Consumer Advocate Steve
Burgess
Chairman of the House Insurance
Committee-Dennis Ross
Staff Director of the Insurance CommitteeTom Cooper
Citizens insurance actuary and
representatives from Citizens
fairinsuranceratesinmonroe.com
Workshop Attendees
F
I
R
Linda Rae deGinder, President of the
Johnson’s Insurance Agency
Representative Ken Sorensen
FIRM members Cindy DeRocher, Heather
Carruthers and Thomas Mack.
Monroe County Actuary-Allan Schwartz
All members of the press
M
fairinsuranceratesinmonroe.com
Get Angry??
F
I
R
Florida legislature convened on Tuesday,
March 7th to vote on a windstorm
insurance rate hike requested by Citizens
Property Insurance Company of an
additional
44%
M
fairinsuranceratesinmonroe.com
Get Involved
F
I
R
Get Active: Continue to write, call, talk
about the issues!
Contact your local media resources to let
them know this is a major community
issue. This must stay at the fore-front of
everyone’s mind. IT IS NOT JUST A
HOME-OWNER’S ISSUE.
M
fairinsuranceratesinmonroe.com
What can you do
F
I
R
Make sure that you are receiving all of the
mitigation credits that you deserve.
Windows, strapping, roof & hurricane
shutters.
Review your Citizens policy with your
agent.
Tell 10 friends and organize an Big Pine
Action group to keep this issue in front of
Tallahassee.
M
fairinsuranceratesinmonroe.com
Thank You Big Pine!!!!
F
I
R
THANK YOU for your interest. Without you, this
effort will not be successful. We are grateful for
your dedication to the future of Monroe County.
Get your handouts, buy a t-shirt and make a
contribution.
Again, if we do not have your contact
information, please see a FIRM representative
at the rear of the auditorium or contact us @
www.fairinsuranceratesinmonroe.com
M
fairinsuranceratesinmonroe.com
F
I
Unite to
Make it Right.
R
Drive Carefully
M
fairinsuranceratesinmonroe.com