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Bill

SB 1028

Citizens Property Insurance Corporation

2026 Regular Session Introduced by Joe Gruters

SB 1028 restructures Citizens Property Insurance Corporation's operations and finances, affecting coverage availability and costs for Florida homeowners unable to secure private insurance.

Chapter No. 2026-150
#insurance
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WeVote Research Nonpartisan
Bill Summary · SB 1028

Legislative bill overview

SB 1028 modifies the operational structure and financial mechanisms of Citizens Property Insurance Corporation, Florida's insurer of last resort for property coverage. The bill has passed initial committee review with a committee substitute, indicating substantive changes to the original proposal during the legislative process.

Why is this important

Citizens Property Insurance Corporation serves hundreds of thousands of Florida homeowners who cannot obtain coverage in the private market, making it a critical safety net during Florida's active hurricane seasons. Changes to Citizens' operations directly affect insurance availability and affordability for vulnerable populations and can influence state budget obligations, as Citizens' financial shortfalls may require taxpayer support.

Potential points of contention

  • Financial burden allocation: Whether changes shift costs between policyholders, taxpayers, or private insurers remains unclear without the bill text details
  • Coverage availability vs. affordability: Modifications may expand or restrict who can obtain Citizens coverage, affecting insurance accessibility for lower-income homeowners
  • Rate structure changes: Potential adjustments to how premiums are calculated could disproportionately impact certain geographic regions or property types in Florida

Compiled from official sources — confirm details with the bill’s official record.

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