Florida Senate - 2026 SB 832
By Senator Avila
39-00139B-26 2026832__
1 A bill to be entitled
2 An act relating to residential property insurance;
3 amending s. 627.0621, F.S.; requiring that certain
4 rate filings with the Office of Insurance Regulation
5 from residential property insurers include rate
6 transparency reports; providing for the office to
7 accept such reports or to request the insurer make
8 modifications; providing construction; providing
9 requirements for such reports; requiring insurers to
10 provide such reports to consumers; requiring that the
11 report indicate that it is preliminary and subject to
12 modification by the insurer at the direction of the
13 office under certain circumstances; requiring the
14 office to define terms used in such reports; requiring
15 the office to establish and maintain a comprehensive
16 resource center on its website; providing requirements
17 for the resource center; specifying that certain
18 information is not a trade secret and is not subject
19 to certain public records exemptions; amending s.
20 627.7011, F.S.; prohibiting an insurer from including
21 the value of certain land when establishing a coverage
22 amount or adjusting certain claims; providing
23 construction; amending s. 627.7142, F.S.; conforming a
24 cross-reference; providing an effective date.
25
26 Be It Enacted by the Legislature of the State of Florida:
27
28 Section 1. Present subsection (2) of section 627.0621,
29 Florida Statutes, is redesignated as subsection (3) and amended,
30 and a new subsection (2) is added to that section, to read:
31 627.0621 Transparency in rate regulation.—
32 (2) RATE TRANSPARENCY REPORT.—
33 (a) Beginning October 1, 2026, every rate filing requesting
34 a rate change for residential property coverage from a property
35 insurer must include a rate transparency report for acceptance
36 or, if necessary, modification by the insurer as directed by the
37 office. The office may accept the rate transparency report for
38 filing; or, if the office finds that the report fails to provide
39 the required information in concise, plain language that aids
40 consumers in their understanding of insurance or that the report
41 is misleading, the office must return the report to the insurer
42 with specific directions for modification. The office’s
43 acceptance of the report for use or direction for modification
44 may not be deemed an approval pursuant to s. 627.062. The report
45 must be compiled in a uniform format prescribed by the
46 commission and must include a graphical representation
47 identifying a percentage breakdown of rating factors anticipated
48 by the company, book, or program affected by the filing.
49 (b) Along with an offer of coverage and upon renewal, an
50 insurer shall provide the corresponding copy of the rate
51 transparency report for the consumers’ offered rate to aid
52 consumers in their understanding of insurance. If the report has
53 not been accepted for use or modified in accordance with the
54 office’s direction, the report must indicate that it is
55 preliminary and subject to modification by the insurer at the
56 direction of the office.
57 (c) The rate transparency report must include the following
58 categories of the book or program at the cumulative level:
59 1. The percentage of the total rate factor associated with
60 the cost of reinsurance.
61 2. The percentage of the total rate factor associated with
62 the cost of claims.
63 3. The percentage of the total rate factor associated with
64 the defense containment and costs.
65 4. The percentage of the total rate factor associated with
66 fees and commissions.
67 5. The percentage of the rate factor associated with profit
68 and contingency of the insurer.
69 6. Any other categories deemed necessary by the office or
70 commission.
71
72 An estimated percentage of the influence of each listed factor
73 provided must equal 100 percent.
74 (d) The insurer shall provide the rate transparency report
75 to the office upon the filing of a rate change with the office.
76 (e) In addition to the categories required in paragraph
77 (c), the rate transparency report must also include the
78 following information:
79 1. All major adverse findings by the office for the
80 previous 3 calendar years.
81 2. Whether the insurer uses affiliated entities to perform
82 functions of the insurer.
83 3. Contact information, including a telephone number, hours
84 of service, and an e-mail address, for the Division of Consumer
85 Services of the department.
86 4. Contact information for the office.
87 5. Address for the website for public access to rate filing
88 and affiliate information outlined in subsection (3).
89 6. Any change in the total insured value from the last
90 policy period.
91 (f) The office shall define, in concise and plain language,
92 any term used in the rate transparency report to aid consumers
93 in their understanding of insurance.
94 (3)(2) WEBSITE FOR PUBLIC ACCESS TO RATE FILING
95 INFORMATION.—
96 (a) The office shall establish and maintain a comprehensive
97 resource center on its website which uses concise and plain
98 language to aid consumers in their understanding of insurance.
99 The website must include substantive information on the current
100 and historical dynamics of the market, data concerning the
101 financial condition and market conduct of insurance companies,
102 and insurance options available to consumers. At a minimum, the
103 website must contain the following:
104 1. Reports, using graphical information whenever possible,
105 which outline information about the state of the market and
106 adverse and positive trends affecting it.
107 2. Tools that aid consumers in finding insurers, including,
108 but not limited to, a listing of all companies actively doing
109 business in this state which includes each company’s address,
110 website, and all phone numbers and e-mail addresses to be used
111 by insureds and applicants for coverage.
112 3. Tools that aid consumers in selecting the coverages
113 beneficial to them, including, but not limited to:
114 a. Educational materials that explain the types of coverage
115 in residential property insurance policies; the difference
116 between replacement cost reimbursement and actual cash value
117 reimbursement; a glossary of common terms used in policies; and
118 a comparison of the coverage, terms, conditions, and exclusions
119 contained in different homeowners’ and dwelling fire forms.
120 b. Answers to commonly asked questions about residential
121 property insurance coverage.
122 4. Information about mitigation credits and the My Safe
123 Florida Home Program, as well as other credits and discounts
124 insurers may offer beyond wind mitigation.
125 5. Access to the rate transparency report, annual
126 statements, market conduct information, and other information
127 related to each insurer.
128 6. Information on the Citizens Property Insurance
129 Corporation takeout process, the clearinghouse, and general
130 information as reported by the office.
131 7. Information on the claims process, including, but not
132 limited to:
133 a. Clear, step-by-step guidance on how to file a claim,
134 what to expect during the claim process, and timelines for
135 resolution of a claim.
136 b. The obligations of insurers and insureds related to
137 claim reporting, claim handling, communications regarding
138 claims, claim investigations, claim decisions, and claim
139 payments.
140 c. For each insurer with active policies in this state, the
141 means by which to report a claim, including any phone numbers,
142 e-mail addresses, or website addresses used for claim reporting.
143 8. Information on consumer protection, including, but not
144 limited to:
145 a. The rights of insureds under Florida law related to
146 coverage; coverage renewals, nonrenewals, and cancellations; and
147 mandated offers of coverage.
148 b. Information on how to file consumer complaints with the
149 Division of Consumer Services in the Department of Financial
150 Services.
151 9. Information on news and updates relevant to consumers
152 regarding this state’s residential property insurance market,
153 including regulatory changes, information on insurers that enter
154 or exit the market, and industry trends.
155 10. Information on disaster preparedness directly related
156 to insurance, prepared by the office or by the Division of
157 Emergency Management.
158 11. With respect to any residential property rate filing,
159 the office shall provide the following information on a publicly
160 accessible Internet website:
161 a.1. The overall rate change requested by the insurer.
162 b.2. The rate change approved by the office along with all
163 of the actuary’s assumptions and recommendations forming the
164 basis of the office’s decision.
165 c.3. Certification by the office’s actuary that, based on
166 the actuary’s knowledge, his or her recommendations are
167 consistent with accepted actuarial principles.
168 d. Whether the insurer uses affiliated entities to perform
169 administrative, claims handling, or other functions of the
170 insurer and, if so, the total percentage of direct written
171 premium paid to the affiliated entities by the insurer in the
172 preceding calendar year.
173 (b) For any rate filing, regardless of whether or not the
174 filing is subject to a public hearing, the office shall provide
175 on its website a means for any policyholder who may be affected
176 by a proposed rate change to send an e-mail regarding the
177 proposed rate change. Such e-mail must be accessible to the
178 actuary assigned to review the rate filing.
179 (c) The statewide average requested rate change and final
180 approved statewide average rate change within a filing is not a
181 trade secret as defined in s. 688.002 or s. 812.081(1) and is
182 not subject to the public records exemption for trade secrets
183 provided in s. 119.0715 or s. 624.4213.
184 (d) County rating examples submitted to the office through
185 the rate collection system for the purpose of displaying rates
186 on the office website are not a trade secret as defined in s.
187 688.002 or s. 812.081(1) and are not subject to the public
188 records exemption for trade secrets provided in s. 119.0715 or
189 s. 624.4213.
190 Section 2. Present subsections (5) and (6) of section
191 627.7011, Florida Statutes, are redesignated as subsections (6)
192 and (7), respectively, and a new subsection (5) is added to that
193 section, to read:
194 627.7011 Homeowners’ policies; offer of replacement cost
195 coverage and law and ordinance coverage.—
196 (5) When establishing the coverage amount or adjusting a
197 claim for a dwelling or other structure under a homeowner’s
198 insurance policy, an insurer may not include the value of the
199 land on which such dwelling or structure is located. This
200 subsection may not be construed to permit inclusion of the value
201 of land for dwellings or structures located on the shoreline,
202 surrounded in whole or in part by a body of water, or on land
203 formed or altered by erosion or accretion.
204 Section 3. Section 627.7142, Florida Statutes, is amended
205 to read:
206 627.7142 Homeowner Claims Bill of Rights.—An insurer
207 issuing a personal lines residential property insurance policy
208 in this state must provide a Homeowner Claims Bill of Rights to
209 a policyholder within 14 days after receiving an initial
210 communication with respect to a claim. The purpose of the bill
211 of rights is to summarize, in simple, nontechnical terms,
212 existing Florida law regarding the rights of a personal lines
213 residential property insurance policyholder who files a claim of
214 loss. The Homeowner Claims Bill of Rights is specific to the
215 claims process and does not represent all of a policyholder’s
216 rights under Florida law regarding the insurance policy. The
217 Homeowner Claims Bill of Rights does not create a civil cause of
218 action by any individual policyholder or class of policyholders
219 against an insurer or insurers. The failure of an insurer to
220 properly deliver the Homeowner Claims Bill of Rights is subject
221 to administrative enforcement by the office but is not
222 admissible as evidence in a civil action against an insurer. The
223 Homeowner Claims Bill of Rights does not enlarge, modify, or
224 contravene statutory requirements, including, but not limited
225 to, ss. 626.854, 626.9541, 627.70131, 627.7015, and 627.7074,
226 and does not prohibit an insurer from exercising its right to
227 repair damaged property in compliance with the terms of an
228 applicable policy or ss. 627.7011(7)(e) and 627.702(7) ss.
229 627.7011(6)(e) and 627.702(7). The Homeowner Claims Bill of
230 Rights must state:
231
232 HOMEOWNER CLAIMS
233 BILL OF RIGHTS
234 This Bill of Rights is specific to the claims process
235 and does not represent all of your rights under
236 Florida law regarding your policy. There are also
237 exceptions to the stated timelines when conditions are
238 beyond your insurance company’s control. This document
239 does not create a civil cause of action by an
240 individual policyholder, or a class of policyholders,
241 against an insurer or insurers and does not prohibit
242 an insurer from exercising its right to repair damaged
243 property in compliance with the terms of an applicable
244 policy.
245
246 YOU HAVE THE RIGHT TO:
247 1. Receive from your insurance company an
248 acknowledgment of your reported claim within 7 days
249 after the time you communicated the claim.
250 2. Upon written request, receive from your
251 insurance company within 30 days after you have
252 submitted a complete proof-of-loss statement to your
253 insurance company, confirmation that your claim is
254 covered in full, partially covered, or denied, or
255 receive a written statement that your claim is being
256 investigated.
257 3. Receive from your insurance company a copy of
258 any detailed estimate of the amount of the loss within
259 7 days after the estimate is generated by the
260 insurance company’s adjuster.
261 4. Within 60 days, subject to any dual interest
262 noted in the policy, receive full settlement payment
263 for your claim or payment of the undisputed portion of
264 your claim, or your insurance company’s denial of your
265 claim.
266 5. Receive payment of interest, as provided in s.
267 627.70131, Florida Statutes, from your insurance
268 company, which begins accruing from the date your
269 claim is filed if your insurance company does not pay
270 full settlement of your initial, reopened, or
271 supplemental claim or the undisputed portion of your
272 claim or does not deny your claim within 60 days after
273 your claim is filed. The interest, if applicable, must
274 be paid when your claim or the undisputed portion of
275 your claim is paid.
276 6. Free mediation of your disputed claim by the
277 Florida Department of Financial Services, Division of
278 Consumer Services, under most circumstances and
279 subject to certain restrictions.
280 7. Neutral evaluation of your disputed claim, if
281 your claim is for damage caused by a sinkhole and is
282 covered by your policy.
283 8. Contact the Florida Department of Financial
284 Services, Division of Consumer Services’ toll-free
285 helpline for assistance with any insurance claim or
286 questions pertaining to the handling of your claim.
287 You can reach the Helpline by phone at ...(toll-free
288 phone number)..., or you can seek assistance online at
289 the Florida Department of Financial Services, Division
290 of Consumer Services’ website at ...(website
291 address)....
292
293 YOU ARE ADVISED TO:
294 1. File all claims directly with your insurance
295 company.
296 2. Contact your insurance company before entering
297 into any contract for repairs to confirm any managed
298 repair policy provisions or optional preferred
299 vendors.
300 3. Make and document emergency repairs that are
301 necessary to prevent further damage. Keep the damaged
302 property, if feasible, keep all receipts, and take
303 photographs or video of damage before and after any
304 repairs to provide to your insurer.
305 4. Carefully read any contract that requires you
306 to pay out-of-pocket expenses or a fee that is based
307 on a percentage of the insurance proceeds that you
308 will receive for repairing or replacing your property.
309 5. Confirm that the contractor you choose is
310 licensed to do business in Florida. You can verify a
311 contractor’s license and check to see if there are any
312 complaints against him or her by calling the Florida
313 Department of Business and Professional Regulation.
314 You should also ask the contractor for references from
315 previous work.
316 6. Require all contractors to provide proof of
317 insurance before beginning repairs.
318 7. Take precautions if the damage requires you to
319 leave your home, including securing your property; and
320 turning off your gas, water, and electricity;, and
321 contacting your insurance company; and providing
322 provide a phone number where you can be reached.
323
324 Section 4. This act shall take effect July 1, 2026.