This bill amends various sections of Florida Statutes concerning insurance regulations, with a primary focus on enhancing the roles of the Chief Financial Officer (CFO) and the Office of Insurance Regulation. Key provisions include designating the CFO as the agent for service of process for health maintenance organizations and revising the publication requirements for emergency orders issued by the Commissioner of Insurance Regulation. The bill introduces new requirements for fingerprinting and background checks for individuals involved in the insurance industry, allowing the Department of Law Enforcement to exchange records with the Office of Insurance Regulation. Additionally, it establishes cybersecurity rules for insurance data, mandates rate transparency reports for residential property insurers, and requires certain forms to be posted on the Department of Financial Services' website.

Further amendments aim to improve consumer protection and regulatory oversight within the insurance sector. The bill introduces new eligibility requirements for providers in the continuing care sector, mandates detailed financial reporting, and establishes stricter conditions for maintaining financial reserves. It also enhances the examination and enforcement authority of the overseeing office, ensuring compliance with operational standards. Notably, the bill allows the office to issue immediate final orders to insurers and clarifies the rights of residents under life care contracts, including the ability to record liens against properties on their behalf. Overall, the legislation seeks to strengthen the financial stability and transparency of insurance providers while protecting consumer interests in Florida.

Statutes affected:
S 1656 Filed: 48.151, 252.63, 624.4085, 624.45, 626.9651, 627.062, 627.0621, 627.0645, 627.0651, 627.4554, 627.642, 627.657, 627.7152, 628.081, 628.4615, 628.717, 628.719, 628.910, 629.011, 629.071, 629.081, 629.121, 629.171, 629.181, 629.201, 629.271, 629.301, 629.401, 629.520, 634.401, 651.018, 651.019, 651.034, 651.043, 651.071, 651.1065, 651.108, 651.114
S 1656 c1: 48.151, 252.63, 624.4085, 624.424, 624.45, 626.9651, 627.062, 627.0645, 627.0651, 627.4554, 627.7152, 628.081, 628.4615, 628.717, 628.719, 628.910, 629.011, 629.071, 629.081, 629.121, 629.171, 629.181, 629.201, 629.271, 629.301, 629.401, 629.520, 634.401, 651.018, 651.019, 651.034, 651.043, 651.071, 651.1065, 651.108, 651.114, 624.307, 627.642, 627.657, 627.66997