The bill CS/CS/HB 1263 amends various sections of Florida Statutes to strengthen the regulatory framework of the Office of Insurance Regulation (OIR) and enhance oversight of insurance entities. Key provisions include the requirement for covered entities to notify the OIR of security breaches and provide requested information. The bill empowers the Department of Financial Services and the OIR to issue cease and desist orders for unlicensed activities and mandates examinations of insurance administrators under certain circumstances. It also introduces a new section that allows the Department of Law Enforcement to accept fingerprints for background checks on key personnel in insurance entities, ensuring thorough vetting processes.

Additionally, the bill establishes new reporting requirements for insurers, including the creation of a statewide database for uniform mitigation verification inspection forms and mandates that insurers inform policyholders about available premium discounts for windstorm mitigation measures. It requires certain insurance holding companies to file annual group capital calculation reports and liquidity stress test results, enhancing financial accountability. The bill also clarifies the examination processes for motor vehicle service agreement companies and home warranty associations, while specifying that fines imposed on attorneys in fact cannot be borne by insurers. Overall, the bill aims to improve transparency, consumer protection, and the integrity of the insurance market in Florida, with an effective date of July 1, 2026.

Statutes affected:
H 1263 Filed: 624.34
H 1263 c1: 20.121, 624.316, 627.062, 627.0629, 627.0645, 627.711, 627.7152, 634.141, 634.314, 634.416
H 1263 c2: 20.121, 624.316, 627.062, 627.0629, 627.0645, 627.711, 627.7152, 634.141, 634.314, 634.416
H 1263 e1: 624.316, 627.062, 627.0629, 627.0645, 627.711, 627.7152, 634.141, 634.314, 634.416