Fair Insurance Rates in Monroe (FIRM) is moving on several fronts in its efforts to protect the citizens of Monroe County from further windstorm rate increases proposed by Citizens Property Insurance Corporation (Citizens). On August 23 several FIRM Board members, business leaders, and Monroe County residents testified at the annual rate hearing conducted by the Florida Office of Insurance Regulation (OIR). All opposed the latest Citizens proposed rate increase for Monroe County. To view the hearing you can visit the OIR website at the Citizens Rate Hearing page on the OIR website. OIR will render a decision by late September.
Two days after the hearing, Representative Holly Raschein hosted a roundtable discussion in Key Largo that included Senator Anitere Flores, and representatives from OIR, Citizens, Monroe County and FIRM to discuss windstorm insurance issues related to Monroe County. FIRM and Monroe County reiterated their views and obtained some commitment from the legislators to investigate legislative options to more accurately model Monroe County and from Commissioner Altmaier to move ahead with a Monroe County specific windstorm mitigation inspection form.
Finally, the First District Court of Appeals has ruled that it will hear oral arguments in FIRM’s ongoing legal challenge to OIR and Citizens rate increase of 8.9% that took effect February 1, 2017. The oral arguments will be heard at 9 am on October 10, 2017 and will be broadcast live online.