Fair Insurance Rates In Monroe (FIRM)

Grassroots Florida Keys Group Supports Legislative Leadership on Insurance Issues

Key West, Florida

Fair Insurance Rates in Monroe (FIRM), a grassroots organization representing Florida Keys Homeowners, commends State Senator Anitere Flores and Representative Kathleen Passidomo for their leadership in sponsoring SB 1630 and HB 931 in this session of the Florida Legislature. These bills bring much-needed reforms and provisions to Florida Keys property owners who often have no choice but to insure with state-operated Citizens Property Insurance Corporation. The bills contain essential consumer protections for property owners, and ensure fairness is rate-setting for condominiums. The bills further enable the use of rate calculation models that can result in lower windstorm rates for Keys homeowners.

FIRM was founded ten years ago to combat escalating windstorm insurance premiums in the Florida Keys. Keys residents faced dramatic increases in their windstorm coverage through Citizens Property Insurance, despite few claims having been filed. Analysis of premiums collected versus claims paid demonstrated the increases were not justified.

FIRM succeeded in rolling back a 20% increase that had been implemented in August of 2006, and derailing a proposed 32% increase planned for 2007. Since then, FIRM was successful in slowing the rate of increase on wind insurance costs and in helping to repeal the most onerous aspects of 2012’s federal flood insurance reform. Year after year, FIRM works to hold back more increases and changes in coverage that adv

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