The proposed bill establishes the Insurance Solutions Advisory Council within the Office of Insurance Regulation to analyze and compile data related to Florida's property and automobile insurance market. 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, ensuring representation from different sectors of the insurance industry, including residential and commercial insurers, trial attorneys, public adjusters, and consumer advocates. Members will serve without compensation but will be reimbursed for per diem and travel expenses. The council is required to meet as called by the chair and will receive staffing and administrative support from the Office of Insurance Regulation.

Additionally, the advisory council is mandated to submit an annual report starting October 1, 2026, detailing its analyses and recommendations regarding property and automobile insurance in Florida. The bill includes a provision for the council's expiration on October 2, 2029, unless it is reviewed and reenacted by the Legislature. The effective date for this act is set for July 1, 2026.