FL S0888

Beginning October 1, 2025, residential property insurers must include a rate transparency report with every rate filing submitted to the Office of Insurance Regulation, featuring a graphical breakdown showing the percentage of the total rate attributable to reinsurance costs, claims costs, defense costs, fees and commissions, and insurer profit/contingency, totaling 100%

Insurers must provide the rate transparency report to consumers with every offer of coverage and upon renewal; if the report has not yet been accepted or modified by the Office, it must be labeled as preliminary and subject to modification

Rate transparency reports must also disclose any major adverse findings by the Office over the previous 3 calendar years, whether the insurer uses affiliated entities, changes in total insured value from the last policy period, and contact information for the Division of Consumer Services and the Office

The Office of Insurance Regulation must establish and maintain a comprehensive consumer resource center on its website, including market condition reports, tools for finding insurers and selecting coverages, claims process guidance, mitigation credit information, disaster preparedness resources, and consumer protection rights under Florida law

Statewide average requested and approved rate changes and county rating examples submitted to the Office are explicitly excluded from trade secret protections and related public records exemptions, making them publicly accessible