FL S0554

Increases the interest rate on judgments and decrees by doubling the basis points added to the averaged Federal Reserve discount rate from 400 to 800 basis points

Requires the Office of Insurance Regulation to create and publish annual reports by January 31 detailing related entities (subsidiaries, management companies, reinsurers) and executive officer compensation for each insurer, licensee, or registrant, with data explicitly not considered trade secrets

Mandates that insurance adjusters use electronic estimating programs with itemized, per-unit loss estimates using monthly-updated local market pricing data, and requires retention of all estimate versions for at least 7 years after claim resolution

Establishes a tiered attorney fee structure for property insurance disputes based on judgment-to-demand ratios: 100% of fees awarded if the judgment is at least 80% of the presuit demand, proportional fees for judgments between 20-80%, and no fees if the judgment is below 20%, with exceptions for insurer noncompliance, reasonable demands, or bad faith

Requires mandatory mediation before litigation in property insurance coverage disputes, with costs shared equally between the claimant and insurer, and requires insurers to disclose the dollar amount of any premium discount for mandatory binding arbitration endorsements