FL S0582

Requires the Office of Insurance Regulation to create annual reports listing related entities (subsidiaries, management companies, captive vendors, reinsurers) for each insurer, licensee, or registrant that share common officers, directors, offices, or at least 10% common ownership

Mandates annual reports detailing executive officer compensation including salaries, benefits, stock options, bonuses, and stock buybacks, expressed as dollar amounts and percentage of total revenue, with justification required for compensation exceeding industry averages

Reports must be published on the office's website and submitted to the Financial Services Commission, Senate President, House Speaker, and relevant legislative committees by January 31 each year

Declares that data provided by insurers for these reports are not trade secrets and cannot be withheld on grounds of being business sensitive; data may be used for market analysis, financial assessments, rate-setting, and compliance reviews

Adds executive compensation reports to the factors the Office of Insurance Regulation must consider when determining whether insurance rates are excessive, inadequate, or unfairly discriminatory