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Bill

HB 957

Limits on Property Insurance Rates Filed with the Office of Insurance Regulation

2025 Regular Session Introduced by Daryl Campbell and 2 co-sponsors

HB 957 sought to cap property insurance rate increases filed with Florida regulators to address soaring premiums, but died in committee without passage.

Died in Insurance & Banking Subcommittee
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WeVote Research Nonpartisan
Bill Summary · HB 957

Legislative bill overview

HB 957 would have imposed regulatory limits on the rates that property insurance companies can file with Florida's Office of Insurance Regulation. The bill aimed to constrain premium increases for homeowners and commercial property insurance in a state experiencing significant insurance market turmoil. The measure died in the Insurance & Banking Subcommittee without advancing further in the legislative process.

Why is this important

Florida's property insurance market has faced a crisis, with multiple insurers becoming insolvent, premiums skyrocketing, and many homeowners unable to obtain coverage. Any legislative attempt to address rate increases directly impacts affordability for millions of Floridians and the broader state economy, as homeownership costs and business operations depend heavily on insurance availability and pricing.

Potential points of contention

  • Market viability concerns: Insurance industry advocates argue that rate caps can discourage insurers from entering or remaining in Florida's market, potentially worsening the coverage crisis rather than improving affordability
  • Regulatory authority balance: Debate over whether rate restrictions constitute appropriate government intervention in a private market or necessary consumer protection in an essential service
  • Actuarial validity: Questions about whether artificially limited rates can still allow insurers to cover legitimate risk costs and maintain solvency, or if caps would force companies into unsustainable business models

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

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