The state is scrambling to keep Citizens Insurance solvent, and fix problems before it becomes another California for carriers
As Florida’s 2025 legislative session unfolds, insurance remains one of the most pressing issues, with lawmakers proposing multiple bills aimed at stabilizing homeowners' insurance premiums and reconsidering the state’s no-fault auto insurance system. The debate comes amid rising costs for both property and auto insurance, as well as growing concerns over the financial stability of state-backed Citizens Property Insurance.
Senator Blaise Ingoglia, a key player in insurance policy discussions, has introduced several proposals to address market instability and hold insurance companies accountable. One of his latest measures, SB 1740, would require insurers seeking approval to operate in Florida to maintain an additional $35 million in reserves beyond what is needed to cover policyholder obligations. The bill also includes new regulations barring executives and attorneys of failed insurance companies from taking leadership roles in another insurer if they were involved within five years before the company became insolvent.
In a bid to encourage homeowners to invest in hurricane and flood mitigation measures, Ingoglia has proposed SJR 1190, which would allow the Legislature to freeze property taxes for homeowners who elevate their homes or take other steps to make them more resilient. If approved by two-thirds of the Legislature, the measure would go before voters in 2026. Another bill, SB 1192, would ensure that these tax benefits remain in place for 20 years.
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