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 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 and consumer advocacy. 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 findings and recommendations concerning property and automobile insurance in Florida. 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.