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Bill

SB 1044

Emergency Residential Property Insurance Assistance Trust Fund/Department of Financial Services

2025 Regular Session Introduced by Tracie Davis

SB 1044 would create a state trust fund to assist Florida homeowners with residential property insurance costs during market instability, but died in committee without advancement.

Died in Banking and Insurance
#insurance
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WeVote Research Nonpartisan
Bill Summary · SB 1044

Legislative bill overview

SB 1044 proposed creating an Emergency Residential Property Insurance Assistance Trust Fund administered by Florida's Department of Financial Services to provide financial relief to homeowners facing residential property insurance challenges. The bill would have established a dedicated funding mechanism to help residents access or maintain property insurance coverage during periods of market instability.

Why is this important

Florida's property insurance market has experienced significant strain in recent years, with insurers exiting the market and premiums rising substantially, leaving many homeowners unable to secure affordable coverage. A state-backed assistance fund could have reduced reliance on the state's insurer-of-last-resort program (Citizens Property Insurance Corporation) and potentially provided direct relief to vulnerable homeowners facing insurance unavailability or unaffordable rates.

Potential points of contention

  • Fiscal impact and funding source: The bill's funding mechanism and cost estimates were not clearly detailed in available records, raising questions about whether it would require new appropriations or redirect existing resources
  • Market distortion concerns: Critics might argue that state subsidies could artificially suppress premium signals and reduce incentives for private insurers to return to the market
  • Eligibility and fairness: Defining which homeowners qualify for assistance and setting benefit levels fairly across income levels and property values presents complex policy challenges

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

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