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, with specific 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. Members will serve without compensation but can be reimbursed for travel expenses. The council must submit an annual report starting October 1, 2025, detailing its analyses and recommendations regarding property and automobile insurance. The council is set to expire on June 30, 2030, unless it is reviewed and reenacted by the Legislature. The act is scheduled to take effect on July 1, 2025.