The bill establishes the Insurance Solutions Advisory Council within the Office of Insurance Regulation of the Financial Services Commission. This council is tasked with analyzing and compiling data related to Florida's property and automobile insurance markets and will serve in an advisory capacity to both the office and the Legislature. The council will consist of various members appointed by the Speaker of the House, the President of the Senate, the Governor, and the Chief Financial Officer, ensuring representation from different sectors of the insurance industry, including residential and commercial insurers, trial attorneys, public adjusters, and consumer advocates.

The advisory council is required to meet as called by its chair and will receive administrative support from the Office of Insurance Regulation. Starting October 1, 2025, the council must submit an annual report to the Governor and the Legislature detailing its analyses and recommendations. The council is set to expire on June 30, 2030, unless it is reviewed and reenacted by the Legislature. The effective date for this act is July 1, 2025.