Rates for Citizens Property Insurance Corporation Coverage

HB 275 2026

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hb275-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to rates for Citizens Property 2
Insurance Corporation coverage; amending s. 627.351, 3
F.S.; providing that the limitations on the required 4
annual rate increases for Citizens Property Insurance 5
Corporation coverage do not apply to new policies 6
issued by the corporation on or after a specified date 7
and to subsequent renewals of such policies; providing 8
an exception; providing an effective date. 9
10
Be It Enacted by the Legislature of the State of Florida: 11
12
Section 1. Paragraph (n) of subsection (6) of section 13
627.351, Florida Statutes, is amended to read: 14
627.351 Insurance risk apportionment plans.— 15
(6) CITIZENS PROPERTY INSURANCE CORPORATION.— 16
(n)1. Rates for coverage provided by the corporation must 17
be actuarially sound pursuant to s. 627.062 and not competitive 18
with approved rates charged in the admitted voluntary market so 19
that the corporation functions as a residual market mechanism to 20
provide insurance only when insurance cannot be procured in the 21
voluntary market, except as otherwise provided in this 22
paragraph. The office shall provide the corporation such 23
information as would be necessary to determine whether rates are 24
competitive. The corporation shall file its recommended rates 25

HB 275 2026

CODING: Words stricken are deletions; words underlined are additions.
hb275-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

with the office at least annually. The corporation shall provide 26
any additional information regarding the rates which the office 27
requires. The office shall consider the recommendations of the 28
board and issue a final order establishing the rates for the 29
corporation within 45 days after the recommended rates are 30
filed. The corporation may not pursue an administrative 31
challenge or judicial review of the final order of the office. 32
2. In addition to the rates otherwise determined pursuant 33
to this paragraph, the corporation shall impose and collect an 34
amount equal to the premium tax provided in s. 624.509 to 35
augment the financial resources of the corporation. 36
3. After the public hurricane loss-projection model under 37
s. 627.06281 has been found to be accurate and reliable by the 38
Florida Commission on Hurricane Loss Projection Methodology, the 39
model shall be considered when establishing the windstorm 40
portion of the corporation's rates. The corporation may use the 41
public model results in combination with the results of private 42
models to calculate rates for the windstorm portion of the 43
corporation's rates. This subparagraph does not require or allow 44
the corporation to adopt rates lower than the rates otherwise 45
required or allowed by this paragraph. 46
4. The corporation must make a recommended actuarially 47
sound rate filing for each personal and commercial line of 48
business it writes. 49
5. Notwithstanding the board's recommended rates and the 50

HB 275 2026

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hb275-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

office's final order regarding the corporation's filed rates 51
under subparagraph 1., the corporation shall annually implement 52
a rate increase which, except for sinkhole coverage, does not 53
exceed the following for any single policy issued by the 54
corporation, excluding coverage changes and surcharges: 55
a. Twelve percent for 2023. 56
b. Thirteen percent for 2024. 57
c. Fourteen percent for 2025. 58
d. Fifteen percent for 2026 and all subsequent years. 59
6. The corporation may also implement an increase to 60
reflect the effect on the corporation of the cash buildup factor 61
pursuant to s. 215.555(5)(b). 62
7. The corporation's implementation of rates as prescribed 63
in subparagraphs 5. and 8. shall cease for any line of business 64
written by the corporation upon the corporation's implementation 65
of actuarially sound rates. Thereafter, the corporation shall 66
annually make a recommended actuarially sound rate filing that 67
is not competitive with approved rates in the admitted voluntary 68
market for each commercial and personal line of business the 69
corporation writes. 70
8. New or renewal personal lines policies that do not 71
cover a primary residence are not subject to the rate increase 72
limitations in subparagraph 5., but may not be charged more than 73
50 percent above, nor less than, the prior year's established 74
rate for the corporation. 75

HB 275 2026

CODING: Words stricken are deletions; words underlined are additions.
hb275-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

9. As used in this paragraph, the term "primary residence" 76
means the dwelling that is the policyholder's primary home or is 77
a rental property that is the primary home of the tenant, and 78
which the policyholder or tenant occupies for more than 9 months 79
of each year. 80
10.a. For an order establishing the rates for the 81
corporation issued pursuant to subparagraph 1. on or after June 82
1, 2026, the requirements of subparagraphs 5. and 8. do not 83
apply to any new policy issued by the corporation, including 84
when such policy is subsequently renewed by the corporation. 85
b. Sub-subparagraph a. does not apply to any new policy 86
that covers a primary residence located in a county where the 87
office determines there is not a reasonable degree of 88
competition. 89
Section 2. This act shall take effect upon becoming a law. 90