Bill > H0649

This bill amends Florida Statutes to enhance transparency and reporting requirements for property insurers' financial strength ratings. The legislation introduces new definitions for "financial strength rating" and "independent rating agency", establishing strict criteria for rating agencies to ensure objectivity, independence, and lack of external influence. The bill requires the Office of Insurance Regulation to include financial strength ratings in its annual reports when discussing property insurers facing delinquency or similar legal proceedings, specifically mandating the inclusion of ratings from the previous 8 fiscal quarters before such proceedings. Additionally, the office must maintain and make available quarterly financial strength rating information for each property insurer, including details about rating changes, downgrades, upgrades, and any related delinquency proceedings. The bill aims to provide more comprehensive and transparent information about the financial health of property insurers to legislators, the Governor, and the public, with the new provisions set to take effect on July 1, 2026.

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https://www.flsenate.gov/Session/Bill/2026/649