Senate Bill 2D, was the legislatures property insurance bill. Expanding on what we passed in 2021 to combat excessive litigation, SB 2D:

Authorizes $2 billion for a new Reinsurance to Assist Policyholders (RAP) program provided at no cost to insurers.

This program allows insurers to obtain reimbursement for hurricane losses earlier than they normally would under the Florida Hurricane Catastrophe Fund.

Insurers that participate in RAP for 2022 must reduce policyholder rates by June 30, 2022, to reflect the savings from RAP. Insurers that defer using RAP until 2023 must reduce policyholder rates by May 1, 2023 to reflect savings.

Creates new protections for policy non-renewal.

Insurers may not refuse to write or renew policies on homes with roofs that are less than 15 years old solely because of the roof’s age.

For a roof that is at least 15 years old, insurers must allow homeowners to have a roof inspection before requiring the replacement of the roof as a condition of writing or renewing the homeowner’s insurance policy.

Prevents Fraud in Insurance Claims by

Eliminating attorney’s fees awarded in AOB litigation's

Allows policy holders the ability to create a separate roof deductible or chose to opt out

Policy holders who select a roof deductible must receive a premium credit or discount on the policy

Strengthens the Office of Insurance Regulation’s ability to perform oversight on Property Insurers

Additionally, Effective July 1st, the state has allocated $150 million to provided hurricane mitigation inspections and developed a grant program to increase home hardening. For every $1 you put to home hardening improvements, the state will chip in $2, up to $10,000. Please keep an eye out for updates from me regarding the specifics of this plan and how to receive benefits.