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Bill

SB 1184

Residual Market Insurers

2025 Regular Session Introduced by Nick DiCeglie

SB 1184 modified Florida's residual market insurance operations; passed as companion bill CS/HB 1549, affecting coverage availability and cost distribution for high-risk property owners.

Died in Judiciary, companion bill(s) passed, see CS/HB 1549 (Ch. 2025-145)
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Bill Summary · SB 1184

Legislative bill overview

SB 1184 addresses the structure and operations of Florida's residual market insurers—entities that provide coverage to property owners who cannot obtain insurance in the standard market. The bill modifies how these insurers function, their financial mechanisms, and their relationship to the broader insurance marketplace during periods of market stress or insolvency.

Why is this important

Florida's property insurance market has faced significant instability, with major insurers becoming insolvent and rates increasing substantially. Residual market insurers serve as a critical safety net, but their operations directly affect insurance costs, availability, and ultimately property owners' ability to obtain coverage. Changes to these mechanisms influence who bears financial risk during insurance crises.

Potential points of contention

  • Cost allocation: Disagreement over whether expenses should be distributed among all insurers, policyholders, or taxpayers, and how that burden affects market competitiveness
  • Market intervention scope: Debate over how much the state should regulate residual market operations versus allowing market forces to operate
  • Solvency protections: Tension between protecting consumers from insurer failures and avoiding moral hazard that might discourage financial responsibility

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

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