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Bill

SB 790

Policy Cancellations and Nonrenewals by Property Insurers

2025 Regular Session Introduced by Jennifer Bradley

Florida bill regulating property insurer policy cancellations and non-renewals to protect homeowners in unstable insurance market; died in committee.

Died in Banking and Insurance
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Bill Summary · SB 790

Legislative bill overview

SB 790 would have regulated how property insurers in Florida cancel or refuse to renew insurance policies, likely imposing restrictions on insurer discretion or establishing new procedural requirements. The bill was introduced in February 2025 but died in the Banking and Insurance Committee after being indefinitely postponed in May.

Why is this important

Florida's property insurance market has experienced significant upheaval, with major insurers exiting the state and consumers facing policy cancellations and non-renewals at record rates. Legislation addressing insurer cancellation practices directly affects homeowners' ability to obtain and maintain coverage, which is essential for mortgage approval and property protection.

Potential points of contention

  • Insurer profitability vs. consumer protection: Restricting cancellations and non-renewals could reduce insurers' ability to exit unprofitable markets, potentially affecting their financial stability or causing rate increases
  • Market competition concerns: Regulations may help stabilize the market or alternatively discourage new insurers from entering if restrictions limit their operational flexibility
  • State Insurance Guaranty Fund burden: Stricter retention requirements could shift more risk to the state's insolvency backstop, ultimately funded by policyholders through assessments

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

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