FIRM December 2016 Newsletter

Your Monthly News & Updates

FIRM FILES FORMAL COMPLAINT WITH OIR

Last month FIRM sent a letter to Citizens CEO Barry Gilway asking for a review of the rate setting process. The request was denied so FIRM filed a formal complaint with the Office of Insurance Regulation (OIR) asking that the rates be recalculated, or at least suspended until more studies can be done to determine a more accurate rate.

F rom 2004-2015 Monroe County has paid $685.9 million in premiums in excess of claims to Citizens!

If the matter goes to an Administrative Hearing it will be a costly endeavor but one that FIRM believes it can win. We have received generous support from the City of Key West, Village of Islamorada, City of Key Colony Beach, Florida Keys Contractors Association, and the Marathon Chamber of Commerce.

As you consider your year-end giving, please consider donating to FIRM to help with our efforts. The high cost of insurance affects every single person in Monroe County.

Donate Here

FIRM awarded grant from Community Foundation of the Florida Keys

FIRM has be en awarded a $10,000 grant for the Community Foundation of the Florida Keys (CFFK) as

p art of its Vision 20/20 Grant Program. FIRM Keys: Mitigation and Floodproofing Outreach will consist of a series of workshops throughout the Keys that will provide a centralized source of information, resources, tools and expertise on mitigation methods that will empower property owners to protect themselves and their property.

The goal is to assist each attendee in creating a concrete plan for financing and executing flood mitigation projects on their homes and businesses.

Stay tuned for more details.

(pictured above l to r: FIRM Flood Insurance Committee Chairperson Michael Larson, FIRM Vice President Steve Russ, CFFK Board Member Rosi Ware, FIRM President Mel Montagne, and CFFK Grants Committee Chairperson Rita Linder.)

HURRICANE SEASON ENDS

Monroe County experienced another uneventful hurricane season. The Upper Keys did make some preparations for Matthew, but fortunately the storm by-passed the County completely.

"The big story is the Florida hurricane drought is over, but a bigger story is once again we failed to forecast rapid intensification of storms about to make landfall,"said Weather Underground meteorologist Jeff Masters. "Matthew went to a Cat 5 and that was not forecast at all. Nicole also wasn't [expected to intensify]. So we've still got a long way to go." (J. Staletovich, 2016, November 29 A streak, a wobble and an end to South Florida hurricane season. The Miami Herald.)

MONROE COUNTY LOCAL MITIGATION STRATEGY WORKING GROUP

What, you ask, is a local mitigation strategy working group? A Local Mitigation Strategy (LMS) is a plan developed by the County to reduce and or eliminate the risks associated with natural and man-made hazards. The Working Group met recently to update the status of the plan and to report on progress the various departments have made towards preparedness, weather spotter training, upgraded real-time communications, flood proofing and more.

Monroe County Emergency Management Senior Planner Jeff Manning hosted the meeting in Marathon. FIRM welcomes the opportunity to partner with the various agencies to build a stronger community bond.

National Association of Insurance Commissioners

The NAIC's website Insure U has a wealth of information about all kinds of insurance questions. You may even find answers to questions you didn't even know you had! If you have a moment to check out the website you'll be glad you did.

We feature information from the NAIC in our monthly newsletter, so be sure to contact FIRM if you have a specific insurance topic that you would like to learn about.

Fair Insurance Rates in Monroe (FIRM) | 305-294-3476 | firmkeys@gmail.com | FIRMkeys.org

422 Fleming St. #5

Key West, FL 33040