This bill amends sections of Florida Statutes related to rate filings for property insurers, specifically enhancing the powers of the consumer advocate and establishing new limitations on rate approvals by the Office of Insurance Regulation. The consumer advocate is granted the authority 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 allows circuit courts to enforce compliance with subpoenas and to order the payment of reasonable expenses incurred by the consumer advocate in such cases.

Furthermore, the bill introduces a prohibition on the approval of property insurance rate filings that exceed a 10 percent increase over the highest rate approved in the past 12 months, effective July 1, 2026. It also stipulates that if multiple rate filings occur within a year, the cumulative increase cannot exceed 15 percent. The bill mandates expedited administrative hearings for rate filing disputes and allows for expedited appellate reviews, ensuring a more efficient process for addressing rate-related issues. The effective date for these changes is set for July 1, 2026.