Property Insurance Affiliates

Summary

The bill would make property insurance companies in Florida report any fees, commissions, or other payments they make to affiliated entities and obtain regulator approval for those transactions. It also gives the Office of Insurance Regulation authority to review contracts, limit dividend payouts, and order refunds or penalties if payments are deemed unfair. The goal is to protect policyholders by ensuring affiliate dealings are transparent and reasonable.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share