The proposed 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 bill outlines the operational framework for the council, including the requirement for the Office of Insurance Regulation to provide staffing and administrative support. Members are expected to be appointed by August 1, 2025, and will serve without compensation, although they will be reimbursed for travel expenses. The council is mandated to submit an annual report starting October 1, 2025, detailing its findings and recommendations. Additionally, the council is set to expire on June 30, 2030, unless it is reviewed and reauthorized by the Legislature. The act is scheduled to take effect on July 1, 2025.