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FL S1222
Bill
Status
Failed
6/16/2025
Primary Sponsor
Barbara Sharief
Click for details
AI Summary
- Prohibits the Office of Insurance Regulation from approving any property insurance rate filing on or after July 1, 2025, if the proposed rate exceeds 10% above the highest rate approved in the past 12 months, with a cumulative cap of 15% for multiple filings within a 12-month period
- Grants the consumer advocate authority to request administrative hearings under s. 120.57 to challenge the office's notice of intent to approve or disapprove a rate filing, and to seek expedited appellate review of final orders
- Expands the consumer advocate's investigative powers to include administering oaths, compelling witness testimony, issuing subpoenas, and accessing premises, records, and documents at all reasonable times
- Authorizes circuit courts to hold persons in contempt for refusing to comply with consumer advocate subpoenas and to order those persons to pay the consumer advocate's reasonable expenses, including attorney fees
- Effective date is July 1, 2025
Legislative Description
Rate Standards for Property Insurers
Last Action
Died in Banking and Insurance
6/16/2025
Full Bill Text
No bill text available