This bill amends Florida Statutes to enhance protections for policyholders of personal and commercial residential property insurance in the event of hurricane or wind damage. It prohibits insurers from canceling or nonrenewing policies for a period of 90 days after repairs are completed, or until a specified policy renewal expires, if the property has been damaged by a hurricane or wind loss. The bill also extends this protection to flood damage caused by hurricanes under certain conditions. Additionally, it specifies that any claims for unrepaired flood damage cannot be covered under an extended or renewed policy. The bill allows the Commissioner of Insurance Regulation to waive certain provisions if necessary due to solvency concerns.

Furthermore, the bill requires homeowners' insurance policy insurers to provide policyholders with at least 45 days' advance written notice of cancellation, nonrenewal, or rate changes, with specific exceptions for nonpayment of premiums. The notice must be mailed and, if an email address is available, also sent electronically. The bill also clarifies that if a policy is extended or renewed, it must contain similar terms to the original policy unless updated forms are used. The effective date for these changes is set for July 1, 2025.

Statutes affected:
S 790 Filed: 627.4133