Florida SB 582: Students Participating in Intercollegiate Athletics

Bill Text

582 
Required Reports of the Office of Insurance Regulation 
2025-11-19T04:15:59Z 
Requiring the office to create specified reports on insurers, licensees, registrants, and their related entities, including the compensation of their executive officers; requiring the office to use a reliable and up-to-date methodology and software to create specified reports and review such methodology and software for accuracy; specifying that certain data are not considered trade secrets and may be used for certain purposes, etc. 
Original Filed Version 
2026 
S 
2026-07-01T00:00:00Z 
GB 
General Bill 
__ 

 Florida Senate - 2026 SB 582 

 By Senator Gaetz 

 1-00980-26 2026582__ 
 1 A bill to be entitled 
 2 An act relating to required reports of the Office of 
 3 Insurance Regulation; amending s. 624.315, F.S.; 
 4 providing legislative findings; requiring the office 
 5 to create specified reports on insurers, licensees, 
 6 registrants, and their related entities, including the 
 7 compensation of their executive officers; specifying 
 8 requirements for such reports; requiring the office to 
 9 publish the reports annually on its website and submit 
 10 the reports annually to specified entities; requiring 
 11 the office to use a reliable and up-to-date 
 12 methodology and software to create specified reports 
 13 and review such methodology and software for accuracy; 
 14 specifying that certain data are not considered trade 
 15 secrets and may be used for certain purposes; 
 16 prohibiting insurers from withholding certain data 
 17 from the office on certain grounds; amending s. 
 18 627.062, F.S.; revising the facts the office must 
 19 consider in determining whether a rate is excessive, 
 20 inadequate, or unfairly discriminatory; providing an 
 21 effective date. 
 22 
 23 Be It Enacted by the Legislature of the State of Florida: 
 24 
 25 Section 1. Present paragraph (c) of subsection (4) of 
 26 section 624.315, Florida Statutes, is redesignated as paragraph 
 27 (d), and a new paragraph (c) is added to that subsection, to 
 28 read: 
 29 624.315 Annual reports; quarterly reports.— 
 30 (4) 
 31 (c)1. The Legislature finds that the state has a strong and 
 32 legitimate financial interest in the health and performance of 
 33 the property and casualty insurance market. Further, the costs 
 34 of property insurance may have a strong impact on the 
 35 performance of Florida’s housing market, to the benefit or 
 36 detriment of Florida residents. Therefore, it is in the interest 
 37 of Floridians that the office collect and analyze data regarding 
 38 market conduct and performance. 
 39 2. The office shall create a report that, for each insurer, 
 40 licensee, or registrant, provides a list of related entities, 
 41 including, but not limited to, subsidiaries, management 
 42 companies, captive vendors, and reinsurers which share common 
 43 executive officers, directors, or offices or at least 10 percent 
 44 common ownership with the insurer, licensee, or registrant. The 
 45 report must also detail the financial relationship between the 
 46 entities. The office shall publish the report on its website and 
 47 submit it to the commission, the President of the Senate, the 
 48 Speaker of the House of Representatives, and the legislative 
 49 committees with jurisdiction over matters of insurance on or 
 50 before January 31 of each year. 
 51 3. The office shall create a report detailing the 
 52 compensation of executive officers for each insurer, licensee, 
 53 or registrant, including, but not limited to, salaries, 
 54 benefits, stock options, bonuses, stock buybacks, and other 
 55 taxable payments, expressed both as dollar amounts and as a 
 56 percentage of the entity’s total revenue. The report must 
 57 include the profits and losses of each entity as reported in its 
 58 financial statements and highlight any compensation exceeding 
 59 the industry average. The office shall also include in the 
 60 report any rationale provided by the insurer justifying 
 61 compensation exceeding the industry average. The office shall 
 62 publish the report on its website and submit it to the 
 63 commission, the President of the Senate, the Speaker of the 
 64 House of Representatives, and the legislative committees with 
 65 jurisdiction over matters of insurance on or before January 31 
 66 of each year. 
 67 4. To create the reports required under subparagraphs 2. 
 68 and 3., the office shall use a reliable and up-to-date 
 69 methodology and software and shall routinely review such 
 70 methodology and software for accuracy. 
 71 5. Any data provided by insurers to the office under this 
 72 paragraph are not considered trade secrets under s. 812.081, and 
 73 the office may use such data for market analysis, financial 
 74 assessments, rate-setting, and compliance reviews. Insurers may 
 75 not withhold any financial or other data requested by the office 
 76 under this paragraph as being business sen