The Financial Services Commission and the Office of Insurance Regulation (“Office”) hereby state that the following circumstances constitute an immediate danger to the public health, safety, or welfare: The State of Florida experienced eight hurricanes and four tropical storms during 2004 and 2005, with total insured losses estimated at $38.9 billion. These natural disasters and other factors have limited the availability of property and casualty insurance and reinsurance for property owners and have dramatically increased its costs. These losses have resulted in turmoil in the commercial property market. Businesses in Florida, especially those located in the proximity of the coast, are finding it extremely difficult to find an adequate level of coverage, that is, coverage that is required by state law or by responsible or prudent business practices. Hundreds of Florida business owners have voiced to the Governor, members of the Cabinet, and the Commissioner a hardship regarding their inability to obtain commercial insurance and having to shut down their businesses and of being unable to sell businesses or real property because prospective buyers cannot obtain the required insurance. Commercial insurance brokers have expressed how they are alarmed over the diminishing property insurance market currently existing in Florida and how their clients are unable to obtain insurance for their business properties. Florida business owners have written to state that the inability to find insurance has resulted in their mortgage companies threatening to “force place” wind/hail coverage or foreclose on mortgages. Some business owners, who provide jobs for their local communities, have expressed the likelihood of bankruptcy due to the insurance crisis. On August 11, 2006, the Commissioner participated in a town hall gathering in Bradenton called by Representative Galvano, and attended by business owners, commercial insurance brokers and agents, and citizens. Speaker after speaker expressed their frustrations at their inability to secure the insurance they need to protect their business property. A recent online poll conducted by the Office found that of the 1,900 businesses responding, 42 percent were either cancelled or non-renewed by their insurer in the last six months and 32 percent were able to secure new coverage but with generally much higher rates, less coverage or both. Some of the respondents said they may relocate their businesses to other states due to insurance difficulties. Currently there does not exist a joint underwriting association for businesses, or commercial non-residential property owners located outside the boundaries of the areas eligible for coverage in the former Florida Windstorm Underwriting Association as those areas were defined on January 1, 2002. For most of the land area of Florida, there is currently no joint underwriting association coverage available for commercial, non-residential property insurance. The worst of the hurricane season is quickly approaching. Insurance is a necessary part of any responsible business plan. A non-emergency rule is being promulgated but it will not be effective in time to provide coverage to businesses before the end of the hurricane season. Reliance on the non-emergency rule would result in hundreds of businesses facing what has been forecast to be a very busy hurricane season without the protection of insurance.