FL S1740

My Safe Florida Home Program hurricane mitigation grants may only be awarded for improvements that result in property insurance credits, discounts, or other rate differentials, and the Department of Financial Services must require improvements to all openings when necessary to qualify for such discounts

Minimum surplus requirements for new domestic residential property insurers increase from $15 million to $35 million (or $50 million for wholly owned subsidiaries of out-of-state insurers), with existing insurers phased up to $35 million by July 1, 2035

Officers, directors, or attorneys in fact of insurers that become insolvent on or after July 1, 2025, are barred from serving in leadership roles at any authorized insurer, managing general agent, or insurer affiliate if they served within 5 years before insolvency, expanded from the prior 2-year lookback period

Insurers are prohibited from using artificial intelligence, machine learning systems, or algorithms as the sole basis for denying a claim; all claim denials must be made by a qualified human professional who independently analyzes the claim, and denial communications must identify that professional by name

The Office of Insurance Regulation is prohibited from requesting that an insurer waive a deemed approval for a residential property insurance rate filing proposing a rate decrease and may not issue a notice of intent to disapprove such a filing without completing a finalized review