This bill amends Florida Statutes to enhance the powers of the consumer advocate in the realm of property insurance regulation. It introduces new provisions that allow the consumer advocate to request administrative hearings to challenge rate filings and to administer oaths, issue subpoenas, and compel the production of evidence during investigations. Additionally, the bill establishes that failure to comply with court orders related to these subpoenas may result in contempt charges, and the court may require the non-compliant party to cover the consumer advocate's reasonable expenses, including attorney fees.

Furthermore, the bill revises the rate approval process for property insurance by prohibiting the Office of Insurance Regulation from approving any rate filings that exceed 10 percent above the highest rate approved in the past 12 months, with a cumulative increase cap of 15 percent for multiple filings within that period. It also mandates that administrative hearings related to rate filings be expedited and allows for an expedited appellate review process following the final order. The effective date for these changes is set for July 1, 2025.