The bill establishes the Insurance Solutions Advisory Council within the Office of Insurance Regulation of the Financial Services Commission. This council is tasked with compiling and analyzing data related to Florida's property and motor vehicle insurance markets and will serve in an advisory capacity to both the office and the Legislature. 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, with specific representation from different sectors of the insurance industry and consumer advocacy. Members will serve without compensation but will be reimbursed for travel expenses.

The advisory council is required to meet as called by its chair and will receive administrative support from the Office of Insurance Regulation. Starting October 1, 2026, the council must submit an annual report detailing its analyses and recommendations regarding property and motor vehicle insurance in Florida. The council is set to expire on October 2, 2029, unless it is reviewed and reenacted by the Legislature. The act is scheduled to take effect on July 1, 2026.