Bill > S0832

This bill introduces several key provisions related to residential property insurance in Florida, focusing on increasing transparency and consumer protection. Beginning October 1, 2026, property insurers will be required to submit rate transparency reports with their rate change filings, which must include detailed breakdowns of rating factors such as reinsurance costs, claims costs, defense expenses, fees and commissions, and profit percentages. Insurers must provide these reports to consumers along with policy offers and renewals, clearly indicating if the report is preliminary and subject to modification. The Office of Insurance Regulation will be mandated to establish a comprehensive website resource center with detailed information about insurance markets, coverage options, claim processes, and consumer rights. Additionally, the bill prohibits insurers from including land value when establishing coverage amounts or adjusting claims for dwellings, and updates the Homeowner Claims Bill of Rights with minor technical changes. The law aims to help consumers better understand insurance rates, claim processes, and their rights by requiring more straightforward, graphical, and accessible information from insurers. The provisions will take effect on July 1, 2026, giving insurers and regulators time to prepare for the new requirements.

Budget and Finance

https://www.flsenate.gov/Session/Bill/2026/832