Florida 2024 Regular Session Status: In Committee Bipartisan · 2 R · 1 D cosponsors

HB 625 — Property Insurance Coverage

Last action — Died in Commerce Committee

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Property Insurance Coverage; Provides that rates charged for certain commercial lines residential condominium wind-only policies by Citizens Property Insurance Corporation are not subject to specified rate increases; requires authorized inspectors to use specified inspection form for inspections of residential structure & commercial structure roofs.

Bill Text

What changed in the latest version

331 added · 217 removed

331 line(s) added, 217 removed.

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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 HB625 2024 A bill to be entitled An act relating to property insurance coverage;
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 CS/HB625 2024 A bill to be entitled An act relating to property insurance coverage;
removing provisions relating to ineligibility of commercial lines residential condominiums for wind-only coverage by Citizens Property Insurance Corporation under certain circumstances;
providing that rates charged for certain commercial lines residential condominium wind-only policies by Citizens Property Insurance Corporation are not subject to specified rate increases;
requiring authorized inspectors to use a specified inspection form for roof inspections;
requiring authorized inspectors to use a specified inspection form for inspections of residential structure roofs;
creating s.
627.70143, F.S.;
providing a definition;
requiring authorized inspectors to use a specified inspection form for inspections of commercial structure roofs;
authorizing such inspectors to provide appendices to the inspection forms for a specified purpose;
Paragraph (a) of subsection (6) of section 627.351, Florida Statutes, is amended to read:
Paragraph (a) of subsection (6) of section 627.351, Florida Statutes, is amended, and paragraph (n) of subsection (6) of that section is republished, to read:
627.351 Insurance risk apportionment plans.— (6) CITIZENS PROPERTY INSURANCE CORPORATION.— (a) The public purpose of this subsection is to ensure that there is an orderly market for property insurance for residents and businesses of this state.
Page 1of 12 CODING:
1.
The Legislature finds that private insurers are Page 1of 8 CODING:
hb0625-00 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 HB625 2024 unwilling or unable to provide affordable property insurance coverage in this state to the extent sought and needed.
hb0625-01-c1 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 CS/HB625 2024 627.351 Insurance risk apportionment plans.— (6) CITIZENS PROPERTY INSURANCE CORPORATION.— (a) The public purpose of this subsection is to ensure that there is an orderly market for property insurance for residents and businesses of this state.
1.
The Legislature finds that private insurers are unwilling or unable to provide affordable property insurance coverage in this state to the extent sought and needed.
The Legislature intends, therefore, that affordable property insurance be provided and that it continue to be provided, as long as necessary, through Citizens Property Insurance Corporation, a government entity that is an integral part of the state, and that is not a private insurance company.
The Legislature intends, therefore, that affordable property insurance be provided and that it continue to be provided, as long as necessary, through Citizens Property Page 2of 12 CODING:
To that end, the corporation shall strive to increase the availability of affordable property insurance in this state, while achieving efficiencies and economies, and while providing service to policyholders, applicants, and agents which is no Page 2of 8 CODING:
hb0625-00 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 HB625 2024 less than the quality generally provided in the voluntary market, for the achievement of the foregoing public purposes.
hb0625-01-c1 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 CS/HB625 2024 Insurance Corporation, a government entity that is an integral part of the state, and that is not a private insurance company.
To that end, the corporation shall strive to increase the availability of affordable property insurance in this state, while achieving efficiencies and economies, and while providing service to policyholders, applicants, and agents which is no less than the quality generally provided in the voluntary market, for the achievement of the foregoing public purposes.
The commission may, by order, withdraw approval of all or part of a plan if the commission determines that conditions have changed since approval was granted and that the purposes of the plan require changes in the plan.
The commission may, by order, withdraw approval of Page 3of 12 CODING:
For the purposes of this subsection, residential coverage includes both personal lines residential coverage, which consists of the type of coverage provided by homeowner, mobile home owner, dwelling, Page 3of 8 CODING:
hb0625-00 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 HB625 2024 tenant, condominium unit owner, and similar policies;
hb0625-01-c1 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 CS/HB625 2024 all or part of a plan if the commission determines that conditions have changed since approval was granted and that the purposes of the plan require changes in the plan.
For the purposes of this subsection, residential coverage includes both personal lines residential coverage, which consists of the type of coverage provided by homeowner, mobile home owner, dwelling, tenant, condominium unit owner, and similar policies;
If a policyholder is insured by the corporation before being determined to be ineligible pursuant to this subparagraph and such policyholder files a lawsuit challenging the determination, the policyholder may remain insured by the corporation until the conclusion of the litigation.
If a policyholder is insured by the corporation before being determined to be ineligible pursuant to this subparagraph and such policyholder files a lawsuit challenging the determination, the policyholder may remain insured by the corporation until the Page 4of 12 CODING:
b.
Effective January 1, 2015, a structure that has a dwelling replacement cost of $900,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $900,000 or more, is not eligible for coverage by the corporation.
Such dwellings insured by the Page 4of 8 CODING:
hb0625-00 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 HB625 2024 corporation on December 31, 2014, may continue to be covered by the corporation only until the end of the policy term.
hb0625-01-c1 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 CS/HB625 2024 conclusion of the litigation.
b.
Effective January 1, 2015, a structure that has a dwelling replacement cost of $900,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $900,000 or more, is not eligible for coverage by the corporation.
Such dwellings insured by the corporation on December 31, 2014, may continue to be covered by the corporation only until the end of the policy term.
do not apply in counties where the office determines there is not a reasonable degree of competition.
do not apply in counties where the office determines there is not a reasonable Page 5of 12 CODING:
In such counties a personal lines residential structure that has a dwelling replacement cost of less than $1 million, or a single condominium unit that has a combined dwelling and contents replacement cost of less than $1 million, is eligible for coverage by the corporation.
4.
It is the intent of the Legislature that policyholders, Page 5of 8 CODING:
hb0625-00 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 HB625 2024 applicants, and agents of the corporation receive service and treatment of the highest possible level but never less than that generally provided in the voluntary market.
hb0625-01-c1 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 CS/HB625 2024 degree of competition.
In such counties a personal lines residential structure that has a dwelling replacement cost of less than $1 million, or a single condominium unit that has a combined dwelling and contents replacement cost of less than $1 million, is eligible for coverage by the corporation.
4.
It is the intent of the Legislature that policyholders, applicants, and agents of the corporation receive service and treatment of the highest possible level but never less than that generally provided in the voluntary market.
A residential structure is deemed to comply with this sub-subparagraph if it has shutters or opening protections on all openings and if such opening protections complied with the Florida Building Code at the time they were installed.
A residential structure is deemed to comply with this sub-subparagraph if it has shutters or opening protections on all openings and if such opening protections complied with the Florida Building Code at the time they were Page 6of 12 CODING:
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b.
Any major structure, as defined in s.
161.54(6)(a), that is newly constructed, or rebuilt, repaired, restored, or remodeled to increase the total square footage of finished area by more than 25 percent, pursuant to a permit applied for after July 1, 2015, is not eligible for coverage by the corporation if Page 6of 8 CODING:
hb0625-00 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 HB625 2024 the structure is seaward of the coastal construction control line established pursuant to s.
hb0625-01-c1 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 CS/HB625 2024 installed.
b.
Any major structure, as defined in s.
161.54(6)(a), that is newly constructed, or rebuilt, repaired, restored, or remodeled to increase the total square footage of finished area by more than 25 percent, pursuant to a permit applied for after July 1, 2015, is not eligible for coverage by the corporation if the structure is seaward of the coastal construction control line established pursuant to s.
With respect to wind-only coverage for commercial lines residential condominiums, effective July 1, 2014, a condominium shall be deemed ineligible for coverage if 50 percent or more of the units are rented more than eight times in a calendar year for a rental agreement period of less than 30 days.
Beginning with the implementation of the corporation's next annual rate change on or after August 1, 2024, if the corporation writes a commercial lines residential condominium wind-only policy for a condominium in which 50 percent or more of the units are rented more than eight times in a calendar year for a rental agreement period of less than 30 days, the rate charged for such policy is not subject to subparagraph (n)5 With respect to wind-only coverage for commercial lines residential condominiums, effective July 1, 2014, a condominium shall be deemed ineligible for coverage if 50 percent or more of the units are rented more than eight times in a calendar year for a rental agreement period of less than 30 days.
(n)1.
Rates for coverage provided by the corporation must be actuarially sound pursuant to s.
627.062 and not competitive with approved rates charged in the admitted voluntary market so Page 7of 12 CODING:
Words strickenare deletions;
words underlined are additions.
hb0625-01-c1 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 CS/HB625 2024 that the corporation functions as a residual market mechanism to provide insurance only when insurance cannot be procured in the voluntary market, except as otherwise provided in this paragraph.
The office shall provide the corporation such information as would be necessary to determine whether rates are competitive.
The corporation shall file its recommended rates with the office at least annually.
The corporation shall provide any additional information regarding the rates which the office requires.
The office shall consider the recommendations of the board and issue a final order establishing the rates for the corporation within 45 days after the recommended rates are filed.
The corporation may not pursue an administrative challenge or judicial review of the final order of the office.
2.
In addition to the rates otherwise determined pursuant to this paragraph, the corporation shall impose and collect an amount equal to the premium tax provided in s.
624.509 to augment the financial resources of the corporation.
3.
After the public hurricane loss-projection model under s.
627.06281 has been found to be accurate and reliable by the Florida Commission on Hurricane Loss Projection Methodology, the model shall be considered when establishing the windstorm portion of the corporation's rates.
The corporation may use the public model results in combination with the results of private models to calculate rates for the windstorm portion of the corporation's rates.
This subparagraph does not require or allow Page 8of 12 CODING:
Words strickenare deletions;
words underlined are additions.
hb0625-01-c1 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 CS/HB625 2024 the corporation to adopt rates lower than the rates otherwise required or allowed by this paragraph.
4.
The corporation must make a recommended actuarially sound rate filing for each personal and commercial line of business it writes.
5.
Notwithstanding the board's recommended rates and the office's final order regarding the corporation's filed rates under subparagraph 1., the corporation shall annually implement a rate increase which, except for sinkhole coverage, does not exceed the following for any single policy issued by the corporation, excluding coverage changes and surcharges:
a.
Twelve percent for 2023.
b.
Thirteen percent for 2024.
c.
Fourteen percent for 2025.
d.
Fifteen percent for 2026 and all subsequent years.
6.
The corporation may also implement an increase to reflect the effect on the corporation of the cash buildup factor pursuant to s.
215.555(5)(b).
7.
The corporation's implementation of rates as prescribed in subparagraphs 5.
and 8.
shall cease for any line of business written by the corporation upon the corporation's implementation of actuarially sound rates.
Thereafter, the corporation shall annually make a recommended actuarially sound rate filing that is not competitive with approved rates in the admitted voluntary market for each commercial and personal line of business the Page 9of 12 CODING:
Words strickenare deletions;
words underlined are additions.
hb0625-01-c1 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 CS/HB625 2024 corporation writes.
8.
The following new or renewal personal lines policies written on or after November 1, 2023, are not subject to the rate increase limitations in subparagraph 5., but may not be charged more than 50 percent above, nor less than, the prior year's established rate for the corporation:
a.
Policies that do not cover a primary residence;
b.
New policies under which the coverage for the insured risk, before the date of application with the corporation, was last provided by an insurer determined by the office to be unsound or an insurer placed in receivership under chapter 631;
or c.
Subsequent renewals of those policies, including the new policies in sub-subparagraph b., under which the coverage for the insured risk, before the date of application with the corporation, was last provided by an insurer determined by the office to be unsound or an insurer placed in receivership under chapter 631.
9.
As used in this paragraph, the term "primary residence" means the dwelling that is the policyholder's primary home or is a rental property that is the primary home of the tenant, and which the policyholder or tenant occupies for more than 9 months of each year.
627.7011 Homeowners' policies;
Page 10 of12 CODING:
Words strickenare deletions;
words underlined are additions.
hb0625-01-c1 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 CS/HB625 2024 627.7011 Homeowners' policies;
An authorized inspector must use the Commercial Roof Condition Inspection Form (CL-RCF-1 07 17).
An authorized inspector must use the personal Roof Condition Inspection Form issued by Citizens Property Insurance Corporation and approved by the office.
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An authorized inspector may provide an appendix to this form which includes pictures or other documentation to demonstrate the remaining useful life of the roof.
Section 3.
Section 627.70143, Florida Statutes, is created to read:
627.70143 Commercial roof inspections.— (1) As used in this section, the term "authorized inspector" has the same meaning as in s.
627.7011(5)(a).
(2) An authorized inspector inspecting the roof of a commercial structure must use the commercial Roof Condition Page 11 of12 CODING:
hb0625-00 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 HB625 2024 An authorized inspector may provide an appendix to this form which includes pictures or other documentation to demonstrate the remaining useful life of the roof.
hb0625-01-c1 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 CS/HB625 2024 Inspection Form issued by Citizens Property Insurance Corporation and approved by the office.
Section 3.
An authorized inspector may provide an appendix to this form which includes pictures or other documentation to demonstrate the remaining useful life of the roof.
Section 4.
Section 4.
Section 5.
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hb0625-00
hb0625-01-c1
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Action History

  1. Died in Commerce Committee

  2. 1st Reading (Committee Substitute 1)

  3. Now in Commerce Committee

  4. Referred to Commerce Committee

  5. CS Filed

  6. Laid on Table under Rule 7.18(a)

  7. Reported out of Insurance & Banking Subcommittee

  8. Favorable with CS by Insurance & Banking Subcommittee

  9. Added to Insurance & Banking Subcommittee agenda

  10. 1st Reading (Original Filed Version)

  11. Now in Insurance & Banking Subcommittee

  12. Referred to Commerce Committee

  13. Referred to Insurance & Banking Subcommittee

  14. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 2 co-sponsors · 160 not signed on

Sponsors (2)

Co-sponsors (2)

Not signed on (160)

160 members have not signed on to this bill.

Show all 160 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Favorable With Committee Substitute (Insurance & Banking Subcommittee)

Passed 16 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Republican 9002
Unaffiliated 3001
Democrat 4000
Total 16003
% of votes cast 84%0%0%16%
How each member voted (19)
Member Party Vote
Benjamin — Not Voting
Rudman — Yea
Stevenson — Yea
Temple — Yea
Franklin II, Gallop Democrat Yea
Hunschofsky, Christine Democrat Yea
Tant, Allison Democrat Yea
Woodson, Marie Paule Democrat Yea
Abbott, Shane G. Republican Yea
Anderson, Adam Republican Yea
Borrero, David Republican Yea
Botana, Adam Republican Yea
Canady, Jennifer Republican Not Voting
Duggan, Wyman Republican Not Voting
Fabricio, Tom Republican Yea
Griffitts Jr., Philip Wayne "Griff" Republican Yea
Plakon, Rachel Saunders Republican Yea
Steele, Kevin M. Republican Yea
Tramont, Chase Republican Yea

Official roll call →

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 625 do?
Property Insurance Coverage; Provides that rates charged for certain commercial lines residential condominium wind-only policies by Citizens Property Insurance Corporation are not subject to specified rate increases; requires authorized inspectors to use specified inspection form for inspections of residential structure & commercial structure roofs.
Who sponsors HB 625?
HB 625 is sponsored by Buchanan, James (Republican), Hunschofsky, Christine (Democrat), Insurance & Banking Subcommittee, and Lopez, Vicki L. (Republican).
What is the current status of HB 625?
This bill died with 2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 625?
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