The proposed bill establishes the Insurance Solutions Advisory Council within the Office of Insurance Regulation to analyze and evaluate data related to Florida's property and automobile insurance market. 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, including representatives from different sectors of the insurance industry, consumer advocacy, and the Citizens Property Insurance Corporation. The council is required to meet as called by its chair and will receive administrative support from the Office of Insurance Regulation.

Additionally, the advisory council is mandated to submit an annual report starting October 1, 2025, detailing its analyses and recommendations concerning property and automobile insurance in Florida. The bill also includes a provision for the council's expiration on October 2, 2028, unless it is reviewed and saved from repeal by the Legislature. The act is set to take effect on July 1, 2025.