Hurricane Insurance Creation
This article is outside of Ballotpedia's coverage scope and does not receive scheduled updates. If you would like to help our coverage scope grow, consider donating to Ballotpedia.
 |
This organization is no longer active or there has been no visible activity. Do you have any information or see anything that needs updating? Notify our editors. |
| Hurricane Insurance Creation | |
| Basic facts | |
| Location: | Ft. Lauderdale, Fla. |
| Type: | PAC |
| Year founded: | 2008 |
| Website: | Official website |
Hurricane Insurance Creation (HIC) was a PAC located in Florida that was involved with several 2008 initiatives to change how hurricane coverage is dispersed. The initiatives were filed by John Jeffrey Lane, chairperson of the sponsoring organization, Hurricane Insurance Creation.
Mission
In an archived version of HIC's website from April 2009, the organization stated its political interests:[1]
| “ | We have hurricanes in Florida, neutralize the impact of hurricanes and our insurance market should resemble any other state. The State needs to use 2005 Florida Taxation & Finance Statute Title XIV 215.555 Florida Hurricane Catastrophe Fund for hurricanes and remove itself from 'normal insurance'. In providing the CAT fund the State asserts insurance as a valid and necessary exercise of the police power. By signing the Citizens and the Hurricane petitions, we will limit the insurance police power of the State to disasters and cause Citizens Property Insurance to be a mutual owned private company.[2] | ” |
Work
HIC was active in 2008 as the sponsor of a number of initiatives related to hurricane insurance and state-level legislation involving disaster insurance. The organization asked citizens to support petitions that defined hurricanes specifically, created a state insurance corporation, revised current statutes on zoning, and limited local government spending.[1]
In a discussion board on insurance in Florida, a representative of the PAC detailed the group's plan for revising insurance policies in the state. The discussion thread read, "I propose a new kind of policy, one that would last as long as your mortgage--15 to 30 years, that is. The annual premium could be wrapped into your monthly mortgage payments, as it often is today. Your mortgage lender would, of course, inspect your policy as closely as it now inspects your walls for termites. The long-term policy would be a valuable asset that you could transfer to the next owner of your home. Nonrenewal would not be an issue."[3]
Initiatives
HIC was active in the following initiatives in 2008:
Citizens Insurance shall be re-formed as a mutual ownership private company
| Details |
| This initiative did not appear on the November 4, 2008, statewide ballot in Florida as an initiated constitutional amendment. The written objective of this initiative was as follows: "Citizens Insurance shall be reformed as a mutual policyholder owned private company within two calendar years. Citizens shall not be sold to any existing public or private insurance company. All members of the Board of Directors and / or Executive Committees shall be Policyholders. Citizens shall write both personal and commercial lines of property & casualty insurance as term with a maturity of 1 - 30 years and / or permanent policies." |
Hurricane Insurance as a Local Taxing Authority
| Details |
| This measure did not appear on the November 4, 2008, statewide ballot in Florida as an initiated constitutional amendment. The measure would have required hurricane insurance coverage for all properties outside of Florida's Coastal Barrier Resource areas. It would have required other "ineligible" properties to be underwritten by the state—funded by property tax revenue—to cover damage associated with hurricanes, including water- and wind-related damage. |
Local Budget Approval Initiative
| Details |
| This measure did not appear on the November 4, 2008, statewide ballot in Florida as an initiated constitutional amendment. The measure would have required local governments to consult voters by referendum before adopting a new budget. The referendum requirement would have also applied to amendments of existing budgets, provided that the proposed change in revenue or spending exceeded 5 percent or the percentage of inflation (whichever amount was less).[4] |
Homestead Exemptions shall be indexed, removed from Flood V Zones and Save our Homes repealed
| Details |
| This measure did not appear on the November 4, 2008, statewide ballot in Florida as an initiated constitutional amendment. The measure would have indexed the $25,000 homestead exemption from property taxes, phased out the Save Our Homes assessment cap (by 10 percent per year over 10 years), allowed full portability of Save Our Homes during the phase-out period, and removed the homestead exemption from V flood zones (beachfront areas with high wind and flood risk).[5] |
Recent news
The link below is to the most recent stories in a Google news search for the terms 'Hurricane Insurance Creation'. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
See also
- Florida Citizens Insurance shall be re-formed as a mutual ownership private company (2008)
- Florida Hurricane Insurance as a Local Taxing Authority (2008)
- Florida's Local Budget Approval Initiative (2008)
- Florida's Homestead Exemptions shall be indexed, removed from Flood V Zones and Save our Homes repealed
External links
Footnotes
- ↑ 1.0 1.1 Hurricane Insurance Creation, "Hurricane Insurance Creation PAC," archived April 5, 2009
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ Topix, "Insurance companies continue to drop Central Florida homeowners," September 9, 2008
- ↑ Florida Department of State, "Referenda Required for Adoption and Amendment of Local Government Budget," accessed July 11, 2016
- ↑ Florida Tax Watch, "What Is Save Our Homes?" archived September 21, 2011
| |||||||
