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RESOLUTION DIRECTING THE MAYOR OR DESIGNEE IN CONJUNCTION WITH THE OFFICE OF INTERGOVERNMENTAL AFFAIRS TO INITIATE DISCUSSIONS RELATED TO CLIMATE CHANGE WITH PRIVATE INSURANCE AND REINSURANCE PROFESSIONAL ORGANIZATIONS, MEMBER LOCAL GOVERNMENTS IN THE SOUTHEAST FLORIDA CLIMATE CHANGE COMPACT, THE FLORIDA OFFICE OF INSURANCE REGULATION’S DEPARTMENT OF FINANCIAL SERVICES, AND OTHER KEY STAKEHOLDERS TO DEVELOP LONG-TERM RISK MANAGEMENT SOLUTIONS

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WHEREAS, Florida is considered one of the most vulnerable areas in the country with respect to the consequences of climate change, with Southeast Florida on the frontline to experience the impacts of climate change, especially sea level rise, due to its low-lying topography and extensive coastal infrastructure; and
WHEREAS, climate scientists and other groups such as the Southeast Environmental Research Center and the National Oceanic and Atmospheric Administration’s Costal Services Center have predicted the potential erosion of dry land and loss of waterfront property in Miami-Dade County as a result of sea level rise; and
WHEREAS, due to severe weather impacts, insured losses for the global insurance industry rose to $40 billion during the first decade of this century; and
WHEREAS, members of the reinsurance industry have been conducting research to assess the cost of adapting to severe weather impacts using a rigorous risk management approach to assess local total climate risk and included proposed adaptation measures to address total climate risk on an economic basis; and
WHEREAS, using predictive scenarios, at least one study has estimated the expected losses for Southeast Florida by scenario and by hazard ranged from $17 billion, or 8.5 percent of Gross Domestic Product in 2008, to $33 billion or 10 percent of the projected Gross Domestic Product in 2030; and
WHEREAS, it is estimated that approximately $30 billion of the total expected loss in 2050 could be avoided if a comprehensive plan for adaptation were implemented; and
WHEREAS, a recent report by the Geneva Association, the leading international think tank for strategically important insurance and risk management issues, concluded that historic climate records are no longer reliable tools in either risk assessment or rate setting; and
WHEREAS, insurance rates continue to climb and could soon become prohibitive; and
WHEREAS, Miami-Dade County has been in the forefront of these issues for many years; and
WHEREAS, the Miami-Dade County Comprehensive Development Master Plan (hereinafter “the CDMP”) was amended to address sea level rise and climate change, through policies which call for the consideration of sea level rise and climate change as an integral component of all planning processes, including incorporation into public investment processes and decisions; and
WHEREAS, the Board of County Commissioners (hereinafter “this Board”) had previously created the Miami-Dade Climate Change Advisory Task Force, established in July 2006 for a period of five years, through the adoption of Ordinance No. 06-113, which served as an advisory board to this Board on the issue of global warming climate change and was charged with identifying potential future climate change impacts to Miami-Dade County, while providing recommendations regarding mitigation and adaptation measures to respond to climate change; and
WHEREAS, the Miami-Dade Climate Change Advisory Task Force, sunset and dissolved in 2011, pursuant to Ordinance No. 06-113; and
WHEREAS, Miami-Dade County is a member of the Southeast Florida Regional Climate Compact, which is a groundbreaking collaboration of four counties - Monroe, Miami-Dade, Broward, and Palm Beach - working together as a region on climate change policy, mitigation and adaptation; and
WHEREAS, in July of 2013, this Board created the Miami-Dade Sea Level Rise Task Force through the adoption of Resolution No. R-599-13 to review the relevant data and prior studies, assessments, reports, and evaluations of the potential impact of sea level rise on vital public services and facilities, real estate, water and other ecological resources, waterfront property, and infrastructure; and
WHEREAS, at the direction of this Board, on July 1, 2014, the Miami-Dade Sea Level Rise Task Force issued a report with their findings that included an assessment of the likely and potential impacts of sea level rise and storm surge over time, and a set of six recommendations relative to amendments to the CDMP, capital facilities planning, budgetary priorities and other County programs as necessary to ensure that Miami–Dade County is taking appropriate actions to reduce its contributions to climate-induced sea level rise and to ensure its resiliency to the increase in sea level rise, storm surge and related impacts which are expected to occur; and
WHEREAS, after making their recommendations the Miami-Dade Sea Level Rise Task Force sunset and dissolved in July of 2014, pursuant to Resolution No. R-559-13; and
WHEREAS, the Miami-Dade Sea Level Rise Task Force made the recommendation that this Board pass legislation requiring Miami-Dade County to initiate discussions with private insurance and reinsurance professional organizations, member local governments in the Southeast Florida Climate Change Compact, and the Florida Office of Insurance Regulation’s Department of Financial Services to develop long-term risk management solutions,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board:
Section 1. Directs the Mayor or Mayor’s designee in conjunction with the Office of Intergovernmental Affairs to initiate discussions related to climate change with private insurance and reinsurance professional organizations, member local governments in the Southeast Florida Climate Change Compact, the Florida Office of Insurance Regulation’s Department of Financial Services, and other key stakeholders to develop long-term risk management solutions.
Section 2. Further directs the Mayor or Mayor’s designee to prepare a report regarding the issues identified in Section 1 above, provide the report to this Board within one year of the effective date of this resolution and place the completed report on an agenda of the Board pursuant to Ordinance No. 14-65[[.]]1 >>and directs that, from the effective date of this resolution to the time the final report is issued, the Mayor or Mayor’s designee shall prepare quarterly status reports regarding the issues identified in Section 1 above, and provide the status reports to this Board on a quarterly basis and place the status reports on an agenda of the Board pursuant to Ordinance No. 14-65.<<

1 Committee amendments are indicated as follows: Words stricken through and/or [[double bracketed]] are deleted, words underscored and/or >>double arrowed<< are added.