Florida HB 649: Transfers in Divorce

Bill Text

HB 649 2026

CODING: Words stricken are deletions; words underlined are additions.
hb649-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to property insurer financial strength 2
ratings; amending s. 624.315, F.S.; providing 3
definitions; requiring certain annual insurance 4
reports prepared by the Office of Insurance Regulation 5
for the Legislature and the Governor to include the 6
financial strength ratings of property insurers 7
against which delinquency and similar proceedings were 8
instituted; requiring the office to maintain and make 9
available upon request information relating to 10
financial strength ratings of property insurers; 11
providing an effective date. 12
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Be It Enacted by the Legislature of the State of Florida: 14
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Section 1. Present subsections (1) through (5) of section 16
624.315, Florida Statutes, are redesignated as subsections (2) 17
through (6), respectively, a new subsection (1) is added to that 18
section, paragraph (p) is added to present subsection (2) of 19
that section, and paragraph (c) of present subsection (1) and 20
present subsection (5) of that section are amended, to read: 21
624.315 Annual reports; quarterly reports.— 22
(1) As used in this section, the term: 23
(a) "Financial strength rating" means an objective 24
evaluation of the assets, liabilities, net worth, financial 25

HB 649 2026

CODING: Words stricken are deletions; words underlined are additions.
hb649-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

health, performance, and risk of a property insurer as 26
determined by an independent rating agency. 27
(b) "Independent rating agency" means an entity that meets 28
all of the following requirements: 29
1. Issues unbiased and objective financial strength 30
ratings of insurers without the consent of the insurer. 31
2. Is not paid for ratings by the rated insurers, directly 32
or indirectly, whether in cash or other forms of payment. 33
3. Does not permit any rated insurer to influence the 34
ratings of that insurer. 35
4. Is independent and free from outside control or 36
influence and can issue ratings objectively, without fear of 37
reprisals or loss of business. 38
5. May begin, suspend, or end rating an insurer at its 39
discretion. 40
6. Is not owned or controlled, in whole or in part, by any 41
insurer and does not enter into or maintain any potentially 42
related business relationships with rated insurers. 43
(2)(1) As early as reasonably possible, the office, with 44
such assistance from the department as requested, shall annually 45
prepare a report to the Speaker and Minority Leader of the House 46
of Representatives, the President and Minority Leader of the 47
Senate, the chairs of the legislative committees with 48
jurisdiction over matters of insurance, and the Governor 49
showing, with respect to the preceding calendar year: 50

HB 649 2026

CODING: Words stricken are deletions; words underlined are additions.
hb649-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

(c) Names of insurers against which delinquency or similar 51
proceedings were instituted. For property insurers for which the 52
delinquency or similar proceedings were instituted, the annual 53
report must also include the date that each insurer was deemed 54
impaired of capital or surplus, as the terms impairment of 55
capital and impairment of surplus are defined in s. 631.011, or 56
insolvent, as the term insolvency is defined in s. 631.011; the 57
financial strength ratings of the insurer issued by an 58
independent rating agency for each of the previous 8 fiscal 59
quarters before the delinquency or similar proceedings; a 60
concise statement of the circumstances that led to each 61
insurer's delinquency; a summary of the actions taken by the 62
insurer and the office to avoid delinquency; and the results or 63
status of each such proceeding. 64
(3)(2) The office shall maintain the following information 65
and make such information available upon request: 66
(p) The financial strength rating issued to each property 67
insurer by an independent rating agency each calendar quarter 68
during the reporting period, including the changes in ratings 69
from quarter to quarter, the number of downgrades in ratings 70
which occurred during the reporting period, the number of 71
downgraded companies that were subsequently upgraded during the 72
reporting period, and the number of downgraded companies that 73
were subject to delinquency or similar proceedings. 74
(6)(5) When aggregate information includes information 75

HB 649 2026

CODING: Words stricken are deletions; words underlined are additions.
hb649-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

asserted as trade secret information, the office may include the 76
trade secret information in the report required under subsection 77
(2) (1) or may make the trade secret information avail