THE BILL ITSELF
SB 832
Residential Property Insurance
Florida Senate - 2026 SB 832 By Senator Avila 39-00139B-26 2026832__
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A bill to be entitled
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An act relating to residential property insurance;
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amending s. 627.0621, F.S.; requiring that certain
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rate filings with the Office of Insurance Regulation
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from residential property insurers include rate
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transparency reports; providing for the office to
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accept such reports or to request the insurer make
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modifications; providing construction; providing
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requirements for such reports; requiring insurers to
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provide such reports to consumers; requiring that the
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report indicate that it is preliminary and subject to
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modification by the insurer at the direction of the
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office under certain circumstances; requiring the
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office to define terms used in such reports; requiring
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the office to establish and maintain a comprehensive
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resource center on its website; providing requirements
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for the resource center; specifying that certain
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information is not a trade secret and is not subject
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to certain public records exemptions; amending s.
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627.7011, F.S.; prohibiting an insurer from including
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the value of certain land when establishing a coverage
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amount or adjusting certain claims; providing
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construction; amending s. 627.7142, F.S.; conforming a
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cross-reference; providing an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Present subsection (2) of section 627.0621,
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Florida Statutes, is redesignated as subsection (3) and amended,
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and a new subsection (2) is added to that section, to read:
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627.0621 Transparency in rate regulation.—
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(2) RATE TRANSPARENCY REPORT.—
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(a) Beginning October 1, 2026, every rate filing requesting
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a rate change for residential property coverage from a property
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insurer must include a rate transparency report for acceptance
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or, if necessary, modification by the insurer as directed by the
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office. The office may accept the rate transparency report for
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filing; or, if the office finds that the report fails to provide
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the required information in concise, plain language that aids
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consumers in their understanding of insurance or that the report
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is misleading, the office must return the report to the insurer
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with specific directions for modification. The office’s
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acceptance of the report for use or direction for modification
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may not be deemed an approval pursuant to s. 627.062. The report
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must be compiled in a uniform format prescribed by the
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commission and must include a graphical representation
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identifying a percentage breakdown of rating factors anticipated
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by the company, book, or program affected by the filing.
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(b) Along with an offer of coverage and upon renewal, an
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insurer shall provide the corresponding copy of the rate
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transparency report for the consumers’ offered rate to aid
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consumers in their understanding of insurance. If the report has
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not been accepted for use or modified in accordance with the
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office’s direction, the report must indicate that it is
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preliminary and subject to modification by the insurer at the
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direction of the office.
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(c) The rate transparency report must include the following
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categories of the book or program at the cumulative level:
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1. The percentage of the total rate factor associated with
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the cost of reinsurance.
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2. The percentage of the total rate factor associated with
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the cost of claims.
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3. The percentage of the total rate factor associated with
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the defense containment and costs.
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4. The percentage of the total rate factor associated with
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fees and commissions.
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5. The percentage of the rate factor associated with profit
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and contingency of the insurer.
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6. Any other categories deemed necessary by the office or
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commission.
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An estimated percentage of the influence of each listed factor
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provided must equal 100 percent.
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(d) The insurer shall provide the rate transparency report
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to the office upon the filing of a rate change with the office.
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(e) In addition to the categories required in paragraph
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(c), the rate transparency report must also include the
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following information:
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1. All major adverse findings by the office for the
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previous 3 calendar years.
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2. Whether the insurer uses affiliated entities to perform
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functions of the insurer.
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3. Contact information, including a telephone number, hours
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of service, and an e-mail address, for the Division of Consumer
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Services of the department.
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4. Contact information for the office.
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5. Address for the website for public access to rate filing
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and affiliate information outlined in subsection (3).
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6. Any change in the total insured value from the last
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policy period.
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(f) The office shall define, in concise and plain language,
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any term used in the rate transparency report to aid consumers
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in their understanding of insurance.
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(3) (2) WEBSITE FOR PUBLIC ACCESS TO RATE FILING
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INFORMATION.—
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(a) The office shall establish and maintain a comprehensive
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resource center on its website which uses concise and plain
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language to aid consumers in their understanding of insurance.
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The website must include substantive information on the current
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and historical dynamics of the market, data concerning the
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financial condition and market conduct of insurance companies,
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and insurance options available to consumers. At a minimum, the
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website must contain the following:
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1. Reports, using graphical information whenever possible,
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which outline information about the state of the market and
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adverse and positive trends affecting it.
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2. Tools that aid consumers in finding insurers, including,
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but not limited to, a listing of all companies actively doing
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business in this state which includes each company’s address,
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website, and all phone numbers and e-mail addresses to be used
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by insureds and applicants for coverage.
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3. Tools that aid consumers in selecting the coverages
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beneficial to them, including, but not limited to:
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a. Educational materials that explain the types of coverage
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in residential property insurance policies; the difference
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between replacement cost reimbursement and actual cash value
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reimbursement; a glossary of common terms used in policies; and
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a comparison of the coverage, terms, conditions, and exclusions
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contained in different homeowners’ and dwelling fire forms.
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b. Answers to commonly asked questions about residential
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property insurance coverage.
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4. Information about mitigation credits and the My Safe
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Florida Home Program, as well as other credits and discounts
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insurers may offer beyond wind mitigation.
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5. Access to the rate transparency report, annual
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statements, market conduct information, and other information
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related to each insurer.
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6. Information on the Citizens Property Insurance
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Corporation takeout process, the clearinghouse, and general
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information as reported by the office.
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7. Information on the claims process, including, but not
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limited to:
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a. Clear, step-by-step guidance on how to file a claim,
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what to expect during the claim process, and timelines for
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resolution of a claim.
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b. The obligations of insurers and insureds related to
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claim reporting, claim handling, communications regarding
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claims, claim investigations, claim decisions, and claim
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payments.
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c. For each insurer with active policies in this state, the
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means by which to report a claim, including any phone numbers,
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e-mail addresses, or website addresses used for claim reporting.
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8. Information on consumer protection, including, but not
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limited to:
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a. The rights of insureds under Florida law related to
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coverage; coverage renewals, nonrenewals, and cancellations; and
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mandated offers of coverage.
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b. Information on how to file consumer complaints with the
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Division of Consumer Services in the Department of Financial
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Services.
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9. Information on news and updates relevant to consumers
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regarding this state’s residential property insurance market,
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including regulatory changes, information on insurers that enter
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or exit the market, and industry trends.
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10. Information on disaster preparedness directly related
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to insurance, prepared by the office or by the Division of
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Emergency Management.
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11. With respect to any residential property rate filing ,
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the office shall provide the following information on a publicly
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accessible Internet website :
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a. 1. The overall rate change requested by the insurer.
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b. 2. The rate change approved by the office along with all
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of the actuary’s assumptions and recommendations forming the
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basis of the office’s decision.
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c. 3. Certification by the office’s actuary that, based on
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the actuary’s knowledge, his or her recommendations are
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consistent with accepted actuarial principles.
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d. Whether the insurer uses affiliated entities to perform
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administrative, claims handling, or other functions of the
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insurer and, if so, the total percentage of direct written
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premium paid to the affiliated entities by the insurer in the
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preceding calendar year.
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(b) For any rate filing, regardless of whether or not the
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filing is subject to a public hearing, the office shall provide
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on its website a means for any policyholder who may be affected
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by a proposed rate change to send an e-mail regarding the
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proposed rate change. Such e-mail must be accessible to the
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actuary assigned to review the rate filing.
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(c) The statewide average requested rate change and final
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approved statewide average rate change within a filing is not a
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trade secret as defined in s. 688.002 or s. 812.081(1) and is
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not subject to the public records exemption for trade secrets
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provided in s. 119.0715 or s. 624.4213.
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(d) County rating examples submitted to the office through
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the rate collection system for the purpose of displaying rates
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on the office website are not a trade secret as defined in s.
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688.002 or s. 812.081(1) and are not subject to the public
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records exemption for trade secrets provided in s. 119.0715 or
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s. 624.4213.
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Section 2. Present subsections (5) and (6) of section
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627.7011, Florida Statutes, are redesignated as subsections (6)
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and (7), respectively, and a new subsection (5) is added to that
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section, to read:
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627.7011 Homeowners’ policies; offer of replacement cost
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coverage and law and ordinance coverage.—
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(5) When establishing the coverage amount or adjusting a
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claim for a dwelling or other structure under a homeowner’s
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insurance policy, an insurer may not include the value of the
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land on which such dwelling or structure is located. This
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subsection may not be construed to permit inclusion of the value
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of land for dwellings or structures located on the shoreline,
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surrounded in whole or in part by a body of water, or on land
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formed or altered by erosion or accretion.
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Section 3. Section 627.7142, Florida Statutes, is amended
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to read:
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627.7142 Homeowner Claims Bill of Rights.—An insurer
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issuing a personal lines residential property insurance policy
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in this state must provide a Homeowner Claims Bill of Rights to
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a policyholder within 14 days after receiving an initial
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communication with respect to a claim. The purpose of the bill
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of rights is to summarize, in simple, nontechnical terms,
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existing Florida law regarding the rights of a personal lines
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residential property insurance policyholder who files a claim of
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loss. The Homeowner Claims Bill of Rights is specific to the
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claims process and does not represent all of a policyholder’s
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rights under Florida law regarding the insurance policy. The
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Homeowner Claims Bill of Rights does not create a civil cause of
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action by any individual policyholder or class of policyholders
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against an insurer or insurers. The failure of an insurer to
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properly deliver the Homeowner Claims Bill of Rights is subject
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to administrative enforcement by the office but is not
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admissible as evidence in a civil action against an insurer. The
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Homeowner Claims Bill of Rights does not enlarge, modify, or
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contravene statutory requirements, including, but not limited
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to, ss. 626.854, 626.9541, 627.70131, 627.7015, and 627.7074,
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and does not prohibit an insurer from exercising its right to
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repair damaged property in compliance with the terms of an
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applicable policy or ss. 627.7011(7)(e) and 627.702(7) ss.
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627.7011(6)(e) and 627.702(7) . The Homeowner Claims Bill of
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Rights must state:
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HOMEOWNER CLAIMS
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BILL OF RIGHTS
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This Bill of Rights is specific to the claims process
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and does not represent all of your rights under
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Florida law regarding your policy. There are also
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exceptions to the stated timelines when conditions are
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beyond your insurance company’s control. This document
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does not create a civil cause of action by an
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individual policyholder, or a class of policyholders,
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against an insurer or insurers and does not prohibit
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an insurer from exercising its right to repair damaged
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property in compliance with the terms of an applicable
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policy.
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YOU HAVE THE RIGHT TO:
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1. Receive from your insurance company an
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acknowledgment of your reported claim within 7 days
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after the time you communicated the claim.
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2. Upon written request, receive from your
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insurance company within 30 days after you have
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submitted a complete proof-of-loss statement to your
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insurance company, confirmation that your claim is
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covered in full, partially covered, or denied, or
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receive a written statement that your claim is being
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investigated.
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3. Receive from your insurance company a copy of
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any detailed estimate of the amount of the loss within
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7 days after the estimate is generated by the
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insurance company’s adjuster.
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4. Within 60 days, subject to any dual interest
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noted in the policy, receive full settlement payment
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for your claim or payment of the undisputed portion of
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your claim, or your insurance company’s denial of your
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claim.
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5. Receive payment of interest, as provided in s.
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627.70131, Florida Statutes, from your insurance
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company, which begins accruing from the date your
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claim is filed if your insurance company does not pay
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full settlement of your initial, reopened, or
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supplemental claim or the undisputed portion of your
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claim or does not deny your claim within 60 days after
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your claim is filed. The interest, if applicable, must
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be paid when your claim or the undisputed portion of
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your claim is paid.
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6. Free mediation of your disputed claim by the
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Florida Department of Financial Services, Division of
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Consumer Services, under most circumstances and
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subject to certain restrictions.
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7. Neutral evaluation of your disputed claim, if
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your claim is for damage caused by a sinkhole and is
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covered by your policy.
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8. Contact the Florida Department of Financial
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Services, Division of Consumer Services’ toll-free
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helpline for assistance with any insurance claim or
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questions pertaining to the handling of your claim.
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You can reach the Helpline by phone at ...(toll-free
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phone number)..., or you can seek assistance online at
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the Florida Department of Financial Services, Division
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of Consumer Services’ website at ...(website
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address)....
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YOU ARE ADVISED TO:
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1. File all claims directly with your insurance
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company.
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2. Contact your insurance company before entering
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into any contract for repairs to confirm any managed
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repair policy provisions or optional preferred
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vendors.
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3. Make and document emergency repairs that are
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necessary to prevent further damage. Keep the damaged
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property, if feasible, keep all receipts, and take
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photographs or video of damage before and after any
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repairs to provide to your insurer.
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4. Carefully read any contract that requires you
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to pay out-of-pocket expenses or a fee that is based
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on a percentage of the insurance proceeds that you
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will receive for repairing or replacing your property.
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5. Confirm that the contractor you choose is
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licensed to do business in Florida. You can verify a
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contractor’s license and check to see if there are any
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complaints against him or her by calling the Florida
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Department of Business and Professional Regulation.
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You should also ask the contractor for references from
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previous work.
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6. Require all contractors to provide proof of
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insurance before beginning repairs.
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7. Take precautions if the damage requires you to
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leave your home, including securing your property ; and
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turning off your gas, water, and electricity ; , and
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contacting your insurance company ; and providing
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provide a phone number where you can be reached.
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Section 4. This act shall take effect July 1, 2026.