1998-017 Homeowner's Protection ActRESOLUTION 17-98
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A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM
BRACH, FLORIDA, URGING THE FLORIDA SENATE TO ENACT SB 1478 AND THE
I~LOKIDA HOUSE TO ENACT HB 3827, WHICH LEGISLATION KNOWN AS THE
"}IOMEOWNERS PROTECTION ACT" WOULD REDUCE HOMEOWNERS' INSURANCF,
RATES BY FIFTEEN PER CENT AND WOULD STABILIZE THE INSURANCE MARKET
IN TILE STATE OF FLORIDA; AND, PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, in August 1992, Hurricane Andrew viciously hit South Florida and became the
costliest catastrophe in the history of the United States, causing $30 billion in property damage,
including $16 billion of insured losses; and
WHEKEAS, an estimated 80,000 single-family homes, mobile homes and apartments or
condominium units were severely damaged or destroyed, and at least 180,000 people were left
• homeless; and
W13EREAS, many residents subsequently lost the private-market insurance coverage they will
need to fully protect their homes and personal belongings in the event of another storm; and
WHEREAS, six years later, many homeowners throughout Florida still do not have access to
affordable, private insurance coverage -despite the many measures enacted by the State since
Andrew to help reduce the industry's exposure to bankrupting losses, including creation of the
Florida Hurricane Catastrophe Fund; and
WHEREAS, this continuing lack of competition in the insurance marketplace of certain parts of
the state is wreaking economic havoc on many of our communities; and
WHEREAS, the insurance industry, under cloak of Andrew, is pushing for still higher and higher
premiums.
NOW, THEREFORE BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM
• BEACH, FLORIDA:
Section 1. The Village Council of North Palm Beach urges the Florida Senate to enact
• SI3 1478, and the Florida House to enact HB 3827, which legislation is known as the
"Homeowners Protection Act".
Section 2. The Village Clerk is directed to forward a copy of this Resolution to the Palm
Beach County Legislative Delegation and to other governmental bodies and public agencies as
the Mayor directs.
Section 3. This Resolution shall take effect immediately upon its adoption.
PASSED AND ADOPTED THIS 9th DAY OF APRIL , 1998.
(Village Seal)
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VILLAGE CLERK
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