HM 1255

1	House Memorial
2	A memorial to the Congress of the United States, urging
3	Congress to establish a National Catastrophe Fund.
4
5	WHEREAS, the United States has been hit by 26 windstorm
6	events, including hurricanes, tropical storms, tornadoes, and
7	other windstorms, that have individually caused in excess of $1
8	billion each in property damage since 1983, and
9	WHEREAS, together these storms caused an estimated $155
10	billion in property damage across 33 states, Puerto Rico, and
11	the United States Virgin Islands, according to the National
12	Climactic Data Center, and
13	WHEREAS, in 2004, the State of Florida alone was hit by
14	four hurricanes in just 2 months, causing an estimated $41
15	billion in property damage, and
16	WHEREAS, insurance protection against windstorm damage has
17	been difficult to obtain at reasonable premium rates for many
18	residents of the United States and coastal states in particular,
19	and
20	WHEREAS, private-sector insurance protection against
21	property damages caused by the peril of wind is generally
22	excluded under standard homeowners' insurance policies sold in
23	seven states along the Gulf and Atlantic Coast States, the
24	Virgin Islands, and Puerto Rico, and property and casualty
25	insurers are withdrawing underwriting capacity from the market
26	by refusing to issue new policies or renew existing policies or
27	by increasing premiums to unaffordable levels, and
28	WHEREAS, the increasing cost of windstorm insurance
29	premiums presents a significant impediment to home ownership for
30	many Americans, and
31	WHEREAS, new and innovative programs are required to
32	provide a limited program of property insurance protection from
33	windstorm, NOW, THEREFORE,
34
35	Be It Resolved by the Legislature of the State of Florida:
36
37	That the Congress of the United States is urged to
38	establish a National Catastrophe Fund.
39	BE IT FURTHER RESOLVED that copies of this memorial be
40	dispatched to the President of the United States, to the
41	President of the United States Senate, to the Speaker of the
42	United States House of Representatives, and to each member of
43	the Florida delegation to the United States Congress.

CODING: Words stricken are deletions; words underlined are additions.