Florida S0832 amends residential property insurance regulations, prohibiting insurers from including land value in certain claims and requiring rate.

Florida S0832 amends the state's residential property insurance regulations by prohibiting insurers from including the value of land in establishing coverage amounts or adjusting claims, except for specific cases. The bill also mandates that insurers provide rate transparency reports detailing the breakdown of rating factors, which must be accepted or modified by the Office of Insurance Regulation. These reports must include information on major adverse findings, affiliated entities, contact details, and other relevant data.

Florida S0832 amends residential property insurance regulations, prohibiting insurers from including land value in certain claims and requiring rate.

Florida S0832 amends the state's residential property insurance regulations by prohibiting insurers from including the value of land in establishing coverage amounts or adjusting claims, except for specific cases. The bill also mandates that insurers provide rate transparency reports detailing the breakdown of rating factors, which must be accepted or modified by the Office of Insurance Regulation. These reports must include information on major adverse findings, affiliated entities, contact details, and other relevant data.