summary
Introduced
02/08/2023
02/08/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
05/05/2023
05/05/2023
Introduced Session
Potential new amendment
2023 Regular Session
Bill Summary
Adding wind uplift prevention to a list of fixtures or construction techniques for which a residential property insurance rate filing must include actuarially reasonable rate differentials or appropriate deductible reductions; revising rate change limitations for specified policies written by the Citizens Property Insurance Corporation; authorizing the corporation to adopt policy forms that provide for the resolution of certain disputes in proceedings before the Division of Administrative Hearings; requiring the Office of Insurance Regulation to conduct a wind-loss mitigation study in consultation with the Department of Business and Professional Regulation and the Florida Building Commission or competitively procure the study, etc.
AI Summary
This bill makes several changes to Florida's residential property insurance laws. It adds wind uplift prevention to the list of fixtures and construction techniques for which insurers must provide actuarially reasonable rate discounts or deductible reductions. It also revises the rate change limitations for certain policies written by the Citizens Property Insurance Corporation, allowing for higher rate increases on non-primary residence policies. Additionally, the bill authorizes Citizens to adopt policy forms that provide for the resolution of certain claim disputes through the Division of Administrative Hearings. Finally, the bill appropriates funds for the Office of Insurance Regulation to conduct a wind-loss mitigation study in consultation with other state agencies.
Committee Categories
Budget and Finance, Health and Social Services
Sponsors (1)
Other Sponsors (2)
Community Affairs (S), Fiscal Policy (S)
Last Action
Laid on Table, companion bill(s) passed, see CS/CS/CS/HB 799 (Ch. 2023-175), CS/CS/SB 154 (Ch. 2023-203), SB 2502 (Ch. 2023-240) (on 05/01/2023)
Official Document
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