FL H0731

Cited as the "Transparency in Recoveries Act," with an effective date of July 1, 2024

Requires the Office of Insurance Regulation to consider funds recovered by insurers through judgments, settlements, attorney fees, and costs related to fraud and unlawful conduct violations when reviewing motor vehicle insurance rates for excessiveness, inadequacy, or unfair discrimination

Requires insurers that obtain repayment or refunds of claims paid under s. 627.736 as a result of fraud or other statutory violations to report to the Department of Financial Services the total amount of funds received, including attorney fees and costs

Specifies that an insured's payment of a deductible or copayment is not a condition of an insurer's obligation to pay claims

Changes the exception for service providers from "waiving" deductibles or copayments to "deferring collection of" deductibles or copayments as part of a bodily injury settlement or verdict