FL H1015

Requires insurers and insurer groups to file supplemental reports on residential property insurance policies on a monthly basis (changed from quarterly) with data broken down by zip code (changed from county), including policy counts, cancellations, nonrenewals, claims activity, and wind coverage information.

Prohibits insurers from canceling or nonrenewing personal or commercial residential property insurance policies covering properties damaged by a hurricane or wind loss during a declared emergency until 90 days after the dwelling has been repaired; allows exceptions for nonpayment of premium, fraud, insured-caused delays, or payment of policy limits.

Revises Citizens Property Insurance Corporation rate increase limitations by narrowing the exemption from rate caps so that only non-primary-residence policies written on or after November 1, 2023, are exempt from the annual rate increase limits (12%–15%), removing prior exemptions for policies previously covered by insolvent insurers.

Creates a comprehensive regulatory framework for reciprocal insurers (Part I of ch. 629), including new definitions, surplus requirements aligned with s. 624.407, increased attorney bond requirements from $100,000 to $300,000, acquisition approval processes, background check requirements, and provisions for conversion between assessable and nonassessable status.

Establishes a new Insurance Exchanges framework (Part II of ch. 629) authorizing creation of one or more insurance exchanges for underwriting reinsurance, direct insurance on risks outside the U.S., and surplus lines insurance, with governance by a 13-member Board of Governors, a mandatory security fund, $5 million minimum policyholder surplus for underwriting members, and regulatory oversight by the Office of Insurance Regulation.