Residential Property Insurance

Florida Senate
-
2026

SB 832

By
Senator Avila

39-00139B-26 2026832__
1 A bill to be entitled
2 An act relating to residential property insurance;
3 amending s. 627.0621, F.S.; requiring that certain
4 rate filings with the Office of Insurance Regulation
5 from residential property insurers include rate
6 transparency reports; providing for the office to
7 accept such reports or to request the insurer make
8 modifications; providing construction; providing
9 requirements for such reports; requiring insurers to
10 provide such reports to consumers; requiring that the
11 report indicate that it is preliminary and subject to
12 modification by the insurer at the direction of the
13 office under certain circumstances; requiring the
14 office to define terms used in such reports; requiring
15 the office to establish and maintain a comprehensive
16 resource center on its website; providing requirements
17 for the resource center; specifying that certain
18 information is not a trade secret and is not subject
19 to certain public records exemptions; amending s.
20 627.7011, F.S.; prohibiting an insurer from including
21 the value of certain land when establishing a coverage
22 amount or adjusting certain claims; providing
23 construction; amending s. 627.7142, F.S.; conforming a
24 cross-reference; providing an effective date.
25
26 Be It Enacted by the Legislature of the State of Florida:
27
28 Section 1. Present subsection (2) of section 627.0621,
29 Florida Statutes, is redesignated as subsection (3) and amended,
30 and a new subsection (2) is added to that section, to read:
31 627.0621 Transparency in rate regulation.—
32
(2) RATE TRANSPARENCY REPORT
.—

33
(a) Beginning October 1, 202
6
, every rate filing requesting

34
a rate change for residential property coverage from a property

35
insurer must include a rate transparency report for acceptance

36
or
, if necessary,
modification by the
insurer as directed by the

37
office
. The office may accept the rate transparency report for

38
filing
;
or
,
if the office finds that the report fails to provide

39
the required information in concise
,
plain language
that
aids

40
consumers in their understanding of insurance or
that the
report

41
is
misleading, the office
must
return the report to the insurer

42
with specific directions for
modification. The office’s

43
acceptance
of the report
for use or
direction for
modification

44
may not be deemed
an
approval pursuant to s. 627.062. The report

45
must
be compiled in a uniform format prescribed by the

46
commission and must include a graphical representation

47
identifying a percentage breakdown of rating factors anticipated

48
by
the company, book, or program affected by the filing.

49
(b) Along with an offer of coverage and upon renewal, an

50
insurer
shall
provide the corresponding copy of the rate

51
transparency report for the consumers
’
offered rate to aid

52
consumers in their understanding of insurance. If the report has

53
not been accepted for use or modified
in accordance with the

54
office’s direction,
the report must indicate that it is

55
preliminary and subject to modification
by the insurer at the

56
direction of
the office.

57
(c) The rate transparency report must include the following

58
categories of the book or program at the cumulative level:

59
1. The percentage of the total rate factor associated with

60
the cost of reinsurance.

61
2. The percentage of the total rate factor associated with

62
the cost of claims.

63
3. The percentage of the total rate factor associated with

64
the defense containment and costs.

65
4. The percentage of the total rate factor associated with

66
fees and commissions.

67
5. The percentage of the rate factor associated with profit

68
and contingency of the insurer.

69
6. Any other categories deemed necessary by the office or

70
commission.

71
72
An estimated percentage of the influence of each listed factor

73
provided must equal 100 percent
.

74
(d) The insurer shall provide the rate transparency report

75
to the office upon the filing of a rate change with the office.

76
(e)
In addition to the categories required in paragraph

77
(c), t
he rate transparency report must also include the

78
following information:

79
1.
All
major adverse findings by the office for the

80
previous 3 calendar years.

81
2. Whether the insurer uses affiliated entities to perform

82
functions of the insurer.

83
3. Contact information,
including
a telephone number, hours

84
of service, and
an
e-mail address
,
for the Division of Consumer

85
Services of the department.

86
4. Contact information for the office.

87
5. Address for the website for public access to rate filing

88
and affiliate information outlined in subsection (3).

89
6. Any change in the total insured value from the last

90
policy period.

91
(f) The office shall define, in concise and plain language,

92
any term used
in
the rate transparency report to aid consumers

93
in their understanding of insurance.

94
(3)
(2)
WEBSITE FOR PUBLIC ACCESS TO RATE FILING
95 INFORMATION.—
96 (a)
The office shall establish and maintain a comprehensive

97
resource center on its website
which
uses concise and plain

98
language to aid consumers in their understanding of insurance.

99
The website must include substantive information on the current

100
and historical dynamics of the market, data concerning the

101
financial condition and market conduct of insurance companies,

102
and
insurance options
available to consumers. At a minimum, the

103
website must contain the following:

104
1. Reports, using graphical information whe
n
ever possible,

105
which outline information about the state of the market and

106
adverse and positive trends affecting it.

107
2. Tools that aid consumers in finding insurers, including
,

108
but not limited to
, a
listing of all companies actively doing

109
business in this state
which
includes each company’s address,

110
website, and all phone numbers and e
-
mail addresses
to be used

111
by insureds and applicants for coverage
.

112
3. Tools that aid consumers in selecting the coverages

113
beneficial to them, including
,
but not limited to:

114
a.

Educational materials that explain the types of coverage

115
in residential property insurance policies; the difference

116
between replacement cost reimbursement and actual cash value

117
reimbursement; a glossary of common terms
used
in policies; and

118
a comparison of the coverage, terms, conditions, and exclusions

119
contained in different homeowners
’
and dwelling fire forms.

120
b.

Answers to commonly asked questions about residential

121
property insurance coverage.

122
4. Information about mitigation credits and the My Safe

123
Florida Home Program, as well as other credits and discounts

124
insurers may offer beyond wind mitigation.

125
5. Access to the rate transparency report, annual

126
statements, market conduct information, and other information

127
related to each insurer.

128
6. Information on the Citizens Property Insurance

129
Corporation takeout process, the clearinghouse, and general

130
information as reported by the office.

131
7.

Information on the claims process, including
,
but not

132
limited to:

133
a.

Clear, step-by-step guidance on how to file a claim,

134
what to expect during the claim process, and timelines for

135
resolution of a claim.

136
b.

The obligations of insurers and insureds related to

137
claim reporting, claim handling, communications regarding

138
claims, claim investigations, claim decisions, and claim

139
payments.

140
c.

For each insurer with active policies in this state, the

141
means by which to report a claim
,
including any phone numbers,

142
e
-
mail addresses,
or
website addresses
used
for claim reporting.

143
8.

Information on consumer protection, including
,
but not

144
limited to:

145
a.

The rights of insureds under Florida law related to

146
coverage; coverage renewals, nonrenewals, and cancellations; and

147
mandated offers of coverage.

148
b.

Information on how to file consumer complaints with the

149
Division of Consumer Services
in the
Department of Financial

150
Services.

151
9.

Information on news and updates relevant to consumers

152
regarding this state’s residential property insurance market,

153
including regulatory changes, information on insurers that enter

154
or exit the market, and industry trends.

155
10.

Information on d
isaster preparedness directly related

156
to insurance
,
prepared by the office or by the Division of

157
Emergency Management.

158
11.
With respect to any residential property rate filing
,

159
the office shall provide the following information on a publicly

160
accessible Internet website
:
161
a.
1.
The overall rate change requested by the insurer.
162
b.
2.
The rate change approved by the office along with all
163 of the actuary’s assumptions and recommendations forming the
164 basis of the office’s decision.
165
c.
3.
Certification by the office’s actuary that, based on
166 the actuary’s knowledge, his or her recommendations are
167 consistent with accepted actuarial principles.
168
d. Whether the insurer uses affiliated entities to perform

169
administrative, claims handling, or other functions of the

170
insurer and, if so, the total percentage of direct written

171
premium paid to the affiliated entities by the insurer in the

172
preceding calendar year.

173 (b) For any rate filing,
regardless of
whether
or not
the
174 filing is subject to a public hearing, the office shall provide
175 on its website a means for any policyholder who may be affected
176 by a proposed rate change to send an e-mail regarding the
177 proposed rate change. Such e-mail must be accessible to the
178 actuary assigned to review the rate filing.
179
(c) The statewide average requested rate change and final

180
approved statewide average rate change within a filing is not a

181
trade secret as defined in s. 688.002 or s. 812.081(1) and is

182
not subject to the public records exemption for trade secrets

183
provided in s. 119.0715 or s. 624.4213.

184
(d) County rating examples submitted to the office through

185
the rate collection system for the purpose of displaying rates

186
on the office website are not a trade secret as defined in s.

187
688.002 or s. 812.081(1) and are not subject to the public

188
records exemption for trade secrets provided in s. 119.0715 or

189
s. 624.4213.

190 Section 2. Present subsections (5) and (6) of section
191 627.7011, Florida Statutes, are redesignated as subsections (6)
192 and (7), respectively, and a new subsection (5) is added to that
193 section, to read:
194 627.7011 Homeowners’ policies; offer of replacement cost
195 coverage and law and ordinance coverage.—
196
(5) When establishing the coverage amount or adjusting a

197
claim for a dwelling or other structure under a homeowner’s

198
insurance policy, an insurer may not include the value of the

199
land on which such dwelling or structure is located
. This

200
subsection
may not be construed to permit inclusion of
the value

201
of land for dwellings or structures located on the shoreline,

202
surrounded in whole or in part by a body of water, or on land

203
formed or altered by erosion or accretion.

204 Section 3. Section 627.7142, Florida Statutes, is amended
205 to read:
206 627.7142 Homeowner Claims Bill of Rights.—An insurer
207 issuing a personal lines residential property insurance policy
208 in this state must provide a Homeowner Claims Bill of Rights to
209 a policyholder within 14 days after receiving an initial
210 communication with respect to a claim. The purpose of the bill
211 of rights is to summarize, in simple, nontechnical terms,
212 existing Florida law regarding the rights of a personal lines
213 residential property insurance policyholder who files a claim of
214 loss. The Homeowner Claims Bill of Rights is specific to the
215 claims process and does not represent all of a policyholder’s
216 rights under Florida law regarding the insurance policy. The
217 Homeowner Claims Bill of Rights does not create a civil cause of
218 action by any individual policyholder or class of policyholders
219 against an insurer or insurers. The failure of an insurer to
220 properly deliver the Homeowner Claims Bill of Rights is subject
221 to administrative enforcement by the office but is not
222 admissible as evidence in a civil action against an insurer. The
223 Homeowner Claims Bill of Rights does not enlarge, modify, or
224 contravene statutory requirements, including, but not limited
225 to, ss. 626.854, 626.9541, 627.70131, 627.7015, and 627.7074,
226 and does not prohibit an insurer from exercising its right to
227 repair damaged property in compliance with the terms of an
228 applicable policy or
ss. 627.7011(
7
)(e) and 627.702(7)

ss.

229
627.7011(6)(e)
and 627.702(7)
. The Homeowner Claims Bill of
230 Rights must state:
231
232 HOMEOWNER CLAIMS
233 BILL OF RIGHTS
234 This Bill of Rights is specific to the claims process
235 and does not represent all of your rights under
236 Florida law regarding your policy. There are also
237 exceptions to the stated timelines when conditions are
238 beyond your insurance company’s control. This document
239 does not create a civil cause of action by an
240 individual policyholder, or a class of policyholders,
241 against an insurer or insurers and does not prohibit
242 an insurer from exercising its right to repair damaged
243 property in compliance with the terms of an applicable
244 policy.
245
246 YOU HAVE THE RIGHT TO:
247 1. Receive from your insurance company an
248 acknowledgment of your reported claim within 7 days
249 after the time you communicated the claim.
250 2. Upon written request, receive from your
251 insurance company within 30 days after you have
252 submitted a complete proof-of-loss statement to your
253 insurance company, confirmation that your claim is
254 covered in full, partially covered, or denied, or
255 receive a written statement that your claim is being
256 investigated.
257 3. Receive from your insurance company a copy of
258 any detailed estimate of the amount of the loss within
259 7 days after the estimate is generated by the
260 insurance company’s adjuster.
261 4. Within 60 days, subject to any dual interest
262 noted in the policy, receive full settlement payment
263 for your claim or payment of the undisputed portion of
264 your claim, or your insurance company’s denial of your
265 claim.
266 5. Receive payment of interest, as provided in s.
267 627.70131, Florida Statutes, from your insurance
268 company, which begins accruing from the date your
269 claim is filed if your insurance company does not pay
270 full settlement of your initial, reopened, or
271 supplemental claim or the undisputed portion of your
272 claim or does not deny your claim within 60 days after
273 your claim is filed. The interest, if applicable, must
274 be paid when your claim or the undisputed portion of
275 your claim is paid.
276 6. Free mediation of your disputed claim by the
277 Florida Department of Financial Services, Division of
278 Consumer Services, under most circumstances and
279 subject to certain restrictions.
280 7. Neutral evaluation of your disputed claim, if
281 your claim is for damage caused by a sinkhole and is
282 covered by your policy.
283 8. Contact the Florida Department of Financial
284 Services, Division of Consumer Services’ toll-free
285 helpline for assistance with any insurance claim or
286 questions pertaining to the handling of your claim.
287 You can reach the Helpline by phone at ...(toll-free
288 phone number)..., or you can seek assistance online at
289 the Florida Department of Financial Services, Division
290 of Consumer Services’ website at ...(website
291 address)....
292
293 YOU ARE ADVISED TO:
294 1. File all claims directly with your insurance
295 company.
296 2. Contact your insurance company before entering
297 into any contract for repairs to confirm any managed
298 repair policy provisions or optional preferred
299 vendors.
300 3. Make and document emergency repairs that are
301 necessary to prevent further damage. Keep the damaged
302 property, if feasible, keep all receipts, and take
303 photographs or video of damage before and after any
304 repairs to provide to your insurer.
305 4. Carefully read any contract that requires you
306 to pay out-of-pocket expenses or a fee that is based
307 on a percentage of the insurance proceeds that you
308 will receive for repairing or replacing your property.
309 5. Confirm that the contractor you choose is
310 licensed to do business in Florida. You can verify a
311 contractor’s license and check to see if there are any
312 complaints against him or her by calling the Florida
313 Department of Business and Professional Regulation.
314 You should also ask the contractor for references from
315 previous work.
316 6. Require all contractors to provide proof of
317 insurance before beginning repairs.
318 7. Take precautions if the damage requires you to
319 leave your home, including securing your property
;

and

320 turning off your gas, water, and electricity
;
, and

321 contacting your insurance company
;
and
providing

322
provide
a phone number where you can be reached.
323
324 Section 4. This act shall take effect July 1, 2026.