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<br />RESOLUTION NO.: 2001- '30~ <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, OBJECTING TO THE RECENT WINDSTORM <br />INSURANCE RATE INCREASE BY THE FLORIDA WINDSTORM <br />UNDERWRITING ASSOCIATION (FWUA); URGING THE GOVERNOR OF <br />FLORIDA AND THE FLORIDA LEGISLATURE TO CONVENE A SPECIAL <br />SESSION TO ADDRESS THE RATE INCREASE AND THE STRUCTURE <br />OF THE FLORIDA WINDSTORM UNDERWRITING ASSOCIATION <br />PANEL RESPONSIBLE FOR APPROVING THE RATE INCREASE; AND <br />DIRECTING THE CITY CLERK TO FORWARD A COPY OF THIS <br />RESOLUTION TO THE GOVERNOR AND THE FLORIDA LEGISLATURE; <br />PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, property owners of the State of Florida, particularly those in South Florida <br />including the City of Sunny Isles Beach, face yearly threats of hurricane and tropical storm <br />damage to their homes and property; and <br /> <br />WHEREAS, the Florida Windstorm Underwriting Association (FWUA) IS a state- <br />created insurer of last resort for windstorm coverage; and <br /> <br />WHEREAS, over 450,000, residents of Florida are in the FWUA windstorm pool, of <br />which 65 percent live in Miami-Dade, Broward and Palm Beach Counties; and <br /> <br />WHEREAS, the FWUA has recently raised its windstorm rates as much as 268 percent <br />in some communities and many homeowners are facing rate increases as much as $100 to $200 <br />per month; and <br /> <br />WHEREAS, Florida Insurance Commissioner Bill Nelson rejected the request for the <br />rate increase last year, but was overruled by a 2-1 vote of an arbitration panel; and <br /> <br />WHEREAS, Commissioner Nelson filed a lawsuit to prevent the increase but that effort <br />and subsequent appeal ended unsuccessfully in June; and <br /> <br />WHEREAS, the drastic rate increase is so great as to force some homeowners out of <br />their homes; and <br /> <br />WHEREAS, the South Florida community has formed a grassroots effort to fight the rate <br />increase; and <br /> <br />WHEREAS, recent administrative and legislative actions have resulted in astronomical <br />increases in insurance rates and diminished coverage for property owners throughout the state, <br />including those in the City of Sunny Isles Beach; and <br /> <br />Windstorm Insurance Rate Objection Res. <br />Data/legislation/attorney <br /> <br />1 <br />