House Bill 13 (HB 13) amends various sections of the Florida Statutes to enhance the windstorm coverage provided by the Citizens Property Insurance Corporation and improve the overall financial stability of property insurance in Florida. The bill removes existing provisions related to windstorm risk apportionment plan agreements and revises the corporation's purpose to ensure that windstorm coverage is available for all residential structures. It establishes new requirements for this coverage, including underwriting standards, and mandates that the corporation also provide windstorm coverage for commercial lines residential structures. Additionally, the bill introduces provisions for limited apportionment companies and clarifies the assessment processes for member insurers, ensuring that financial responsibilities are shared equitably.

Furthermore, HB 13 modifies eligibility criteria for coverage under the Citizens Property Insurance Corporation, stipulating that personal lines residential risks will not be eligible for coverage if they can obtain it from an authorized insurer at an approved rate, with specific exceptions. The bill emphasizes the importance of actuarial standards in determining insurance rates and mandates that insurers provide discounts for properties implementing windstorm mitigation techniques. It also introduces new definitions and requirements for the corporation's operations, including the establishment of a Risk Underwriting Committee and the adoption of various insurance policy forms. Overall, the bill aims to streamline the insurance process, enhance consumer access to coverage, and ensure that the property insurance market in Florida remains resilient in the face of increasing hurricane risks.

Statutes affected:
H 13 Filed: 624.805, 627.062, 627.4025, 627.7018, 627.713, 631.54, 718.111, 719.104, 720.303, 395.1061, 464.0123, 624.424, 625.317, 627.0655, 627.3512, 627.3515, 627.3517, 627.4133, 627.945, 628.6017