Florida S0030 amends rate filing procedures for property insurers, limiting rate increases and enhancing consumer advocate powers.

Florida S0030 revises the process for property insurers to file rates, requiring a "file and use" approach for filings made at least 90 days before the effective date. It mandates that the Office of Insurance Regulation must issue a notice of intent to approve or disapprove within 90 days. The bill also prohibits the approval of rates more than 10 percent above the highest rate approved in the past year and limits cumulative increases to 15 percent within a 12-month period.

Florida S0030 amends rate filing procedures for property insurers, limiting rate increases and enhancing consumer advocate powers.

Florida S0030 revises the process for property insurers to file rates, requiring a "file and use" approach for filings made at least 90 days before the effective date. It mandates that the Office of Insurance Regulation must issue a notice of intent to approve or disapprove within 90 days. The bill also prohibits the approval of rates more than 10 percent above the highest rate approved in the past year and limits cumulative increases to 15 percent within a 12-month period.