The 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 serve in an advisory capacity to the office and the Legislature, and it is required to comply with existing statutory requirements. 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 and consumer advocacy.

Additionally, the bill mandates that the Office of Insurance Regulation provide staffing and administrative support to the council, which will meet as needed and submit an annual report starting October 1, 2025, detailing its findings and recommendations. The council is set to expire on October 2, 2028, unless it is reviewed and saved from repeal by the Legislature. The act is scheduled to take effect on July 1, 2025.