Florida Senate - 2026                                     SB 366
       
       
        
       By Senator Bernard
       
       
       
       
       
       24-00536-26                                            2026366__
    1                        A bill to be entitled                      
    2         An act relating to initiating a property insurance
    3         interstate compact; requiring the Commissioner of
    4         Insurance Regulation to initiate a compact with other
    5         states to establish a national risk pool for property
    6         insurance for natural disasters for a specified
    7         purpose; requiring the commissioner, as soon as
    8         feasible, to enter into the compact with a minimum
    9         number of member states; providing an effective date.
   10          
   11  Be It Enacted by the Legislature of the State of Florida:
   12  
   13         Section 1. The Commissioner of Insurance Regulation shall,
   14  by December 31, 2027, initiate a compact with other states to
   15  establish a national risk pool for property insurance for
   16  natural disasters in order to reduce the financial risks to this
   17  state and its residents and shall, as soon as feasible, enter
   18  into the compact with at least 14 other member states.
   19         Section 2. This act shall take effect July 1, 2026.