Bill > H1109

This bill aims to reform property insurance regulations by prohibiting inspectors from receiving compensation for referrals, requiring the Citizens Property Insurance Corporation (a state-backed insurer of last resort) to use the Division of Administrative Hearings (DOAH) for protests of its commodity and contractual service purchases, and mandating that the corporation's board take final action on these protests in public meetings. It also revises the deadline for submitting annual loss ratio reports for residential coverage, defines "surplus lines insurer" (an unauthorized insurer eligible to provide coverage under specific laws), and allows eligible surplus lines insurers to participate in the corporation's clearinghouse program, which helps move policyholders to the private market. The bill clarifies that certain applicants who accept an offer from a surplus lines insurer will be considered renewals, repeals a provision related to reporting probable maximum losses, and requires the corporation to provide annual estimates of its financial capacity and borrowing ability to the Legislature and the Financial Services Commission (FSC).