FL H1611

Prohibits insurers from canceling or nonrenewing residential property insurance policies on hurricane- or wind-damaged dwellings for 90 days after repairs are completed, with exceptions for nonpayment of premium, fraud, or insured-caused delays; requires at least 90 days' notice if an insurer elects to nonrenew after repair.

Requires insurers and insurer groups to file monthly (changed from quarterly) supplemental reports on residential property insurance policies, with data broken down by zip code (changed from county), including policies in force, cancellations, nonrenewals, new policies written, claims activity, and wind exposure.

Substantially overhauls regulation of reciprocal insurers, including new requirements for organizing domestic reciprocal insurers, background checks and fingerprinting for attorneys in fact and their officers/directors, a new acquisition approval process for 10%+ ownership changes in attorneys in fact, and a prohibition on persons who served in leadership of insolvent insurers within 2 years of insolvency from serving in similar roles.

Revises Citizens Property Insurance Corporation rate provisions so that new or renewal personal lines policies not covering a primary residence are exempt from annual rate increase caps (12-15%) but may not exceed 50% above the prior year's rate; removes prior exemptions tied to policies from unsound or receivership insurers.

Raises the threshold for the Florida Birth-Related Neurological Injury Compensation Association to suspend new claims from 80% to 100% of funds on hand and requires the association to submit a report by September 1, 2024, with recommendations on actuarial soundness, reporting timing, and revenue levels.