The proposed bill aims to enhance transparency and consumer protection in residential property insurance in Florida. It mandates the Office of Insurance Regulation to create a comprehensive resource center on its website, which will provide essential information to consumers about insurance options, market dynamics, and claims processes. The resource center must include educational materials, tools for finding insurers, and details about mitigation credits. Additionally, insurers are required to notify policyholders about this resource center during coverage offers and renewals. The bill also clarifies that certain information related to rate filings is not considered a trade secret, ensuring greater public access to this data.

Furthermore, the bill introduces specific provisions regarding homeowners' insurance policies, prohibiting insurers from including land value when determining coverage amounts or adjusting claims. It also requires insurers to inform policyholders about premium discounts for hurricane loss mitigation, including enhanced discounts for roof systems with secondary water resistance. The bill aims to improve consumer awareness and rights in the claims process, ensuring timely communication and assistance from insurers. The act is set to take effect on July 1, 2026.

Statutes affected:
H 767 Filed: 627.7142
H 767 c1: 627.0621, 627.711, 627.7142