The bill amends section 624.4212 of the Florida Statutes to provide an exemption from public records requirements for certain proprietary business information submitted to the Office of Insurance Regulation by insurers. Specifically, it adds new provisions that classify the group capital calculation and liquidity stress test results, along with related information, as confidential and exempt from public disclosure. This exemption is intended to facilitate effective regulation of insurer solvency and valuation while protecting the competitive interests of insurers. The bill also includes a provision for future legislative review and potential repeal of the exemption, set to expire on October 2, 2031, unless reenacted.

Additionally, the bill revises the list of entities to which the Office of Insurance Regulation may disclose confidential information, allowing disclosure to designated third-party consultants while ensuring that these recipients agree to maintain the confidentiality of the information. The Legislature emphasizes the public necessity of this exemption, arguing that the potential harm from releasing sensitive information outweighs any public benefit that might arise from its disclosure. The act is set to take effect on July 1, 2026.

Statutes affected:
H 1265 Filed: 624.4212