Florida SB 1028: Corporations

Bill Text

1028 
Citizens Property Insurance Corporation 
2026-03-18T07:08:36Z 
Prohibiting the corporation from issuing new coverage for commercial residential and commercial nonresidential risks under certain circumstances; requiring the corporation to establish a personal lines clearinghouse for specified purposes; revising the rights and responsibilities the corporation has in establishing the program; requiring that certain risk information be aggregated and deidentified; authorizing applicants or insureds to elect to accept coverage with authorized insurers or elect to accept or continue coverage with the corporation under certain circumstances, etc. 
ENROLLED 
2026 
S 
2026-06-16T00:00:00Z 
GB 
General Bill 
er 

 ENROLLED 
 2026 Legislature CS for CS for SB 1028, 1st Engrossed 

 20261028er 
 1 
 2 An act relating to the Citizens Property Insurance 
 3 Corporation; amending s. 627.351, F.S.; prohibiting 
 4 the corporation from issuing new coverage for 
 5 commercial residential and commercial nonresidential 
 6 risks under certain circumstances; providing an 
 7 exception; defining the term “total cost of insurance 
 8 coverage for the specific risk”; amending s. 627.3518, 
 9 F.S.; deleting an obsolete provision; defining terms; 
 10 revising the definition of the term “program”; 
 11 requiring the corporation to establish a personal 
 12 lines clearinghouse for specified purposes; requiring, 
 13 on or before a specified date, the corporation to 
 14 amend its plan of operation and implement a separate 
 15 commercial lines clearinghouse for a specified 
 16 purpose; requiring, on or before a specified date, the 
 17 corporation to implement a separate commercial lines 
 18 clearinghouse for specified purposes; requiring 
 19 certain risks to be eligible for submission to the 
 20 commercial lines clearinghouse for surplus lines 
 21 insurance under certain circumstances; deleting 
 22 obsolete provisions; revising the program’s rights and 
 23 responsibilities; revising the rights and 
 24 responsibilities the corporation has in establishing 
 25 the program; providing construction; requiring the 
 26 corporation to share risk exposure and policy 
 27 information with the commercial lines clearinghouse 
 28 administrator for the commercial lines clearinghouse 
 29 for surplus lines insurance; authorizing such 
 30 administrator to use such information for a specified 
 31 purpose; providing construction; requiring that 
 32 certain risk information be aggregated and 
 33 deidentified; authorizing authorized insurers to 
 34 participate in the personal lines clearinghouse or the 
 35 commercial lines clearinghouse for authorized 
 36 insurers; authorizing surplus lines clearinghouse 
 37 insurers to participate in the commercial lines 
 38 clearinghouse for surplus lines insurance; prohibiting 
 39 such insurers from participating in the personal lines 
 40 clearinghouse or the commercial lines clearinghouse 
 41 for authorized insurance; specifying that 
 42 participation in the program is not mandatory for such 
 43 insurers; revising prohibitions and requirements for 
 44 insurers making offers of coverage to new applicants 
 45 or renewal policyholders through the program; 
 46 providing construction; defining the term “effective 
 47 commission percentage”; specifying that applicants for 
 48 new or renewal commercial lines nonresidential 
 49 coverage from the corporation are not eligible for 
 50 coverage from the corporation under certain 
 51 circumstances; specifying that applicants for new 
 52 commercial lines residential coverage are not eligible 
 53 for coverage from the corporation under certain 
 54 circumstances; specifying the circumstances under 
 55 which policyholders of the corporation are not 
 56 eligible for new commercial lines residential coverage 
 57 from the corporation; requiring that the determination 
 58 of whether an offer of comparable coverage from an 
 59 authorized insurer is at or below the eligibility 
 60 threshold be made at a specified time; authorizing 
 61 applicants or insureds to elect to accept coverage 
 62 with authorized insurers or elect to accept or 
 63 continue coverage with the corporation under certain 
 64 circumstances; authorizing insureds to elect to accept 
 65 coverage with specified insurers or elect to accept or 
 66 continue coverage with the corporation under certain 
 67 circumstances; providing applicability; specifying 
 68 that certain applicants and policyholders become 
 69 ineligible for coverage from the corporation under 
 70 certain circumstances; authorizing applicants or 
 71 policyholders to elect to accept certain coverage 
 72 under certain circumstances; providing applicability; 
 73 revising the rights and authorizations for certain 
 74 independent insurance agents; providing applicability; 
 75 requiring the commercial lines clearinghouse 
 76 administrator for the commercial lines clearinghouse 
 77 for surplus lines in