,,iii  #aaith ,,congress  #ast ,session 
,s4 ,,res4 #eef  ,,in ,,the ,,senate    
,,of ,,the ,,united ,,states  ,december 
#ag1 #bjbe,mr4 ,whitehouse 7for himself1
 ,mr4 ,merkley1 ,mr4 ,markey1 ,mr4 ,van 
,hollen1 ,ms4 ,duckworth1 ,mr4 ,padilla1
 ,mr4 ,welch1 and ,ms4 ,blunt           
,rochester7 submitted the following     
resolution2 which was referred to the   
,committee on ,banking1 ,housing1 and   
,urban ,affairs  ,,resolution           
,recognizing that ,florida's insurance  
market is gravely stressed by climate   
risks4  ,whereas1 as reported by        
,columbia ,business ,school1 because    
climate change is a major risk in       
,florida1 many home insurers are at a   
high risk of insolvency2 ,whereas1      
following catastrophic hurricane losses1
 major insurers left the ,florida market
 entirely1 leaving small1 local1 and    
less stable insurers behind1 many of    
which have already gone insolvent2      
,whereas only mortgages protected by    
home insurance from insurers with a high

 financial strength rating are eligible 
for the government mortgage-backed      
security program1 which maintains       
liquidity in the mortgage market1 and as
 a result of this1 the ,united ,states  
housing market increasingly depends on  
the credibility of these ratings2       
,whereas an insurance rating agency     
called ,demotech has become increasingly
 utilized by smaller home insurers in   
,florida2 ,whereas ,demotech rates #ih  
percent of insurers ,a or above2        
,whereas insurers rated by ,demotech are
 #cj times as likely to become insolvent
 as those graded by rival rating        
companies2 ,whereas1 even when ,florida 
homeowners are able to find a stable    
insurer1 they are still forced to pay   
increasingly high home insurance        
premiums1 now averaging #ad1jjj         
annually2 ,whereas the ,florida ,office 
of ,insurance ,regulation reports that  
home insurance rates in ,florida have   
risen #cd percent since late #bjbb2     
,whereas ,florida ,state law allows     

,citizens ,property ,insurance1 the     
,state-backed insurer of last resort1 to
 levy a surcharge on all policyholders  
to recoup losses if its reserves fall   
short1 levies that may be uncollectable 
in real life2 and ,whereas there are    
credible scenarios in which the losses  
of ,citizens ,property ,insurance exceed
 its ability to pay claims3 ,now1       
therefore1 be it ,that the ,senate calls
 on ,fannie ,mae and ,freddie ,mac to   
scrutinize ,demotech's rating practices 
and calls on the ,treasury ,department's
 insurance office to examine the        
probability that ,state-backed insurers 
of last resort1 including ,florida's1   
ask for a ,federal bailout4