ACTION ALERT - Help us reform Florida's Hurricane Catastrophe Fund

Date 02/28/2012

The Florida Wildlife Federation supports reform of both the Florida Hurricane Catastrophe Fund (Cat Fund) and Citizens Property Insurance Corporation because it will lead to fewer public subsidies in high risk areas. By returning these government-run entities to their original mission, we can move towards ending the practice of subsidizing reckless coastal development in low lying coastal areas of the state, thus better protecting Florida's fish and wildlife habitats.

Important reform legislation has been filed in the 2012 Legislative Session. House Bill 833 by Rep. Bill Hager (R-Boca Raton) and Senate Bill 1372 (Sen. JD Alexander, R-Lake Wales) are a step in the right direction toward "right sizing" the Cat Fund, and better protecting our environment, insured's and you, the taxpayer. Please call your state senator and state representative and let them know you support reform of the Cat Fund. SB 1372 will be heard Tuesday, February 28, in the Senate Budget Subcommittee on General Government Appropriations. CALL TODAY!

To contact members of the committee:
-Senator Alan Hays, hays.alan.web@flsenate.gov, (850) 487-5014 - Chair
-Senator Lizbeth Benacquisto, benacquisto.lizbeth.web@flsenate.gov, (850) 487-5356 Vice-Chair
-Senator Oscar Braynon, braynon.oscar.web@flsenate.gov, 850) 487-5116
-Senator Lacenia Bullard, bullard.larcenia.web@flsenate.gov, (850) 487-5127
-Senator Miguel Diaz de la Portilla, portilla.miguel.web@flsenate.gov, (850) 487-5109
-Senator Audrey Gibson, gibson.audrey.web@flsenate.gov, (850) 487-5024
-Senator Dennis Jones, jones.dennis.web@flsenate.gov, (850) 487-5065
-Senator Jack Latvala ,latvala.jack.web@flsenate.gov, (850) 487-5075

Contact information for your members of the Florida Legislature can be found by following this link - http://www.myfloridahouse.gov/Sections/Representatives/myrepresentative.aspx

Simply enter your zip code and you will be directed to the contact information for your representatives.


BACKGROUND:

Florida's insurance markets cannot be restored without including reform of the Florida Hurricane Catastrophe Fund (Cat Fund). The Cat Fund has the ability to tax any resident with a homeowners or auto insurance policy in Florida to pay for bonds it issues to pay its claims. The Cat Fund was intended to supplement, not replace, private reinsurance. In recent years it has grown unduly large, leaving Florida's insurance consumers subject to potential assessments. HB 833 /SB 1372 would begin to correct that imbalance by reducing these assessments.

A video explaining why the Cat Fund should be reformed can be found at
http://bit.ly/CatFundReform. Florida insured's, regardless of who writes your homeowners and auto insurance policies, are "assessed" a tax that goes toward capitalizing the Florida Hurricane Catastrophe Fund. In fact, you continue to pay into the fund for storms that occurred in 2004-05! This video illustrates how and why the Cat Fund was created and describes the current risk all Floridians face because of the fund's $3.2 billion shortfall. It urges Floridians to support important Cat Fund reform legislation - Senate Bill 1372 (Sen. JD Alexander, R-Lake Wales) and House Bill 833 (Rep. Bill Hager, R-Boca Raton).

CALL OR WRITE YOUR REPRESENTATIVES TODAY! TELL THEM IT'S TIME TO REFORM THE CAT FUND.




Tags: Action Alert, Cat Fund, Florida



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