No. HB 343
Filed under Insurance.
Insurance Solutions Advisory Council; Creates advisory council within OIR to analyze & compile available data & evaluate relevant & applicable information relating to Florida's property & automobile insurance market; provides for membership of advisory council; provides for per diem & travel expenses; provides for meetings of council; requires office to provide advisory council with staffing & administrative assistance; requires advisory council to submit specified report annually; provides for future legislative review & expiration of advisory council.
Plain English Summary
AI-GENERATEDThis bill creates a 13-member Insurance Solutions Advisory Council inside the Office of Insurance Regulation to analyze data on Florida's property and automobile insurance market and advise the office and Legislature.
Six of the thirteen seats go directly to insurance-industry representatives -- insurers, a surplus lines insurer, and agents -- appointed by the House Speaker, Senate President, and Chief Financial Officer.
The Governor appoints three members barred from working for an insurance company, including at least one consumer advocate, and chooses the council's chair from among those three.
Members serve without pay beyond expense reimbursement, at the pleasure of whoever appointed them, and the council must report annually before it automatically expires on October 2, 2029.
AIEstablishes the Insurance Solutions Advisory Council inside the Office of Insurance Regulation to analyze and compile data on the state's property and automobile insurance market, serving in an advisory capacity only.
AIThe Speaker, Senate President, and Chief Financial Officer each appoint members who directly represent insurers, a surplus lines insurer, or insurance agents, guaranteeing industry seats on the council.
AIThe Governor's three appointees cannot be employed by or professionally affiliated with an insurance company or its subsidiary, and the Governor picks the council's chair from among the three.
AIAdvisory council members hold their seats only for as long as the officer who appointed them allows, and can be replaced at that officer's discretion at any time.
AIStarting October 1, 2026, the council must submit an annual report on its market analysis and recommendations, but this subsection does not itself say who must receive that report.
AIThe entire section, and the council it creates, is repealed on October 2, 2029, unless the Legislature reviews it and reenacts it before then.
AIExcept where this section says otherwise, the council must comply with Florida's general statutory requirements for advisory councils and committees.
AIThe Office of Insurance Regulation must provide the advisory council with staffing and administrative assistance so it can carry out its duties.