FL S0594

Adds wind uplift prevention to the list of construction features for which residential property insurance rate filings must include actuarially reasonable discounts, credits, rate differentials, or deductible reductions

Expands the exemption from Citizens Property Insurance Corporation annual rate increase caps (12%–15% depending on year) to include policies where the insured's prior coverage was from an insurer determined unsound or placed in receivership, in addition to non-primary residence policies, with a maximum charge of 50% above the rate in effect one year prior

Revises Citizens' mandatory flood insurance requirements by basing coverage thresholds on dwelling replacement cost rather than property value, and exempts condominium unit owner policyholders and policies not covering wind peril from the flood insurance purchase requirement

Authorizes Citizens Property Insurance Corporation to adopt policy forms allowing claim disputes—including coverage scope and value—to be resolved through proceedings before the Division of Administrative Hearings rather than mandatory binding arbitration under s. 627.70154

Appropriates $750,000 in nonrecurring funds from the Insurance Regulatory Trust Fund for a wind-loss mitigation study evaluating windstorm loss relativities for various construction features across residential property types, with findings due to the Governor and legislative leaders by July 1, 2024