FL S1566

Expands Citizens Property Insurance Corporation's Market Accountability Advisory Committee from 11 to 16 members, adding two consumer representatives, two nonprofit consumer advocacy representatives, one public adjuster, and one representative from the Florida Justice Association.

Extends the corporation's 10 percent annual rate increase cap to sinkhole coverage, previously excluded from the cap.

Requires all property insurers to accept private structural appraisals from state-licensed appraisers when they show lower replacement costs than the insurer's projections.

Mandates insurers pay replacement cost coverage without depreciation holdback for dwelling losses resulting from gubernatorial declarations of state of emergency.

Restructures sinkhole damage reporting requirements, requiring three original sealed reports from engineers/geologists with one filed by the insurer with the county clerk within 30 days of payment, and requires policyholders to file their own sinkhole reports as a condition of claim payment.