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HB 1053FLORIDA · STATEWIDESession 2026dead
High Impact

Updates to Florida Hurricane Catastrophe Fund and Risk Retention Group Rules

Original title: Insurers

January 6, 2026

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The Frame

What this does

The bill changes the financial formulas used by the state to reimburse property insurers for hurricane losses, which directly impacts the operational costs and capital requirements for insurance companies doing business in Florida.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Property insurers

Insurers must comply with new reimbursement formulas, reporting requirements, and contract terms set by the State Board of Administration.

Risk retention groups

These groups are now explicitly classified as authorized insurance companies and must adhere to specific Florida registration, financial reporting, and consumer notice requirements.

Florida consumers

Consumers may be affected by changes in the stability and competitiveness of the residential property insurance market.

What changed

Last recorded activity January 6, 2026.

What's next

Introduced.

Summary

This bill updates how the Florida Hurricane Catastrophe Fund (FHCF) calculates insurer and reimbursement, while also clarifying that out-of-state s are considered authorized insurance companies in Florida. It aims to stabilize the property insurance market by providing insurers with more predictable contract terms and earlier notice of coverage limits.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Why It Matters

The bill changes the financial formulas used by the state to reimburse property insurers for hurricane losses, which directly impacts the operational costs and capital requirements for insurance companies doing business in Florida.

Frequently Asked Questions

How does this bill affect my property insurance policy?
The bill primarily changes the financial relationship between the state's hurricane fund and insurance companies. While it aims to stabilize the market, it does not directly change individual policyholder coverage or premiums.
What is a risk retention group?
A is a type of insurance company owned by its members, often formed to provide liability insurance to businesses with similar risk profiles.
Why is the state changing the 'cash build-up factor'?
The bill sets the to zero for the 2026-2027 contract year, which adjusts how the state collects premiums for the hurricane fund.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Lobbying Activity

9TH STREET STRATEGIES

on behalf of Pennymac Financial Services

2026

HOUSING

Issues related to housing finance, issues related to flood insurance

AARP

$4,110,000

2026

HEALTH ISSUESMEDICARE/MEDICAIDLAW ENFORCEMENT/CRIME/CRIMINAL JUSTICEPHARMACY

P.L. 119-21, One Big Beautiful Bill Act H.R. 8867, Planning for Long-term Aging Needs (PLAN) Act H.R. 5861, Legacy Act of 2025 H.R. 9393, the Lower Costs, More Transparency Act. H.R. 9396, the Prior Authorization Accountability Act. S. 4916, the Aging with Artificial Intelligence Act. H.R. 8100, Safe Staffing Saves Lives Act. S. 3886, Nurses Belong in Nursing Homes Act. H.R. 6766/S. 3492, the Essential Caregivers Act of 2025. H.R. 7966/S. 4118, Hospice Care Accountability, Reform, and Enforcement (Hospice CARE) Act. S. 2120, the Older Americans Act Reauthorization Act of 2025 H.R. 5575, the Firefighters Assisting Seniors to Emergency Response (FASTER) Act of 2025. H.R. 3954/S. 4641, Improving Access to Medicare Coverage Act. H.R.5554/S.2831, Stand Strong for Medicare Act. S. 3439/H.R. 6735, Connecting Caregivers to Medicare Act and efforts related to the bill S. 1227/H.R. 2491, Alleviating Barriers for Caregivers Act S. 668/H.R. 3183, Supporting Access to Falls Education and Prevention and Strengthening Training Efforts and Promoting Safety Initiatives (SAFE STEPS) for Veterans Act of 2025 CMS-1851-P, Hospice Proposed rule. CMS-1843-P, Skilled Nursing Facility Proposed rule. CMS-1844-P, Home Health Proposed rule. No bill number. Health care transparency. No bill number. Discussed use of artificial intelligence and health data technology. No bill number. Discussed health-related policies and activities around the fall respiratory virus season. No bill number. Discussed health insurance affordability proposals. No bill number. Discussed Nursing Home staffing standards, safety, and quality. No bill number. Discussed Nursing home transparency and ownership requirements. No bill number. Discussed home health, hospice, and long-term care. No bill number. Discussed falls prevention. No bill number. Discussed social isolation. No bill number. Discussed HUD Assisted Living Requirements No bill number. Discussed family caregiving. No bill number. Discussed AARP paper on Medicare Caregiver Training Services. No bill number. Discussed Medicaid community engagement interim final rule, including the family caregiver exemption. No bill number. Discussed the paid direct care workforce in long-term care. No bill number. Discussed the unaffordability of long-term care. No bill number. Discussed Money Follows the Person Rebalancing Demonstration Program and Medicaid HCBS spousal impoverishment protections. No bill number. Discussed Medicaid fraud and family caregivers, Medicaid self-direction programs. No bill number. Discussed sandwich generation family caregiver hearing and submitted a statement for the record discussing family caregivers and sandwich generation caregivers, programs that support them, AARP caregiving resources, and federal policies to support sandwich generation caregivers and caregivers more broadly. No bill number. Discussed long-term care. No bill number. CMS-2453-NC; Medicaid Program; 2028 Medicaid Home and Community-Based Services Quality Measure Set Submitted comments No bill number. Discussed expanding access to home care. No bill number. Discussed the increasing cost of home care No bill number. Discussed HSA use for telehealth chronic care management services/subscriptions. No bill number. Discussed artificial intelligence and technology

1607 STRATEGIES, LLC

on behalf of Travelers Companies, Inc. and subsidiaries

2026

INSURANCEFINANCIAL INSTITUTIONS/INVESTMENTS/SECTORTSLAW ENFORCEMENT/CRIME/CRIMINAL JUSTICE

Issues related to the property and casualty insurance industry. Issues related to the Terrorism Risk Insurance Program. H.R. 7128, TRIA Program Reauthorization Act of 2026, all provisions.

1607 STRATEGIES, LLC

on behalf of Cross River Bank

2026

BANKING

Issues related to banking and financial services including: securitization, debts, online lending, virtual currency, payments and capital markets. Issues related to Federal Deposit Insurance Corporation rulemaking on brokered deposits. Issues related to the Paycheck Protection Program. Issues related to SBA lending programs. Issues related to standards of third party lending. Issues related to bank examinations.

1607 STRATEGIES, LLC

on behalf of Assurant, Inc.

2026

INSURANCECONSUMER ISSUES/SAFETY/PRODUCTS

Issues relating to the reauthorization of the National Flood Insurance Program, other issues related to flood insurance products and government-sponsored enterprise reform.

1607 STRATEGIES, LLC

on behalf of American Property Casualty Insurance Association

2026

INSURANCEBUDGET/APPROPRIATIONSTORTS

Issues relating to the reauthorization of the National Flood Insurance Program and other Issues related to flood insurance. Issues related to the Fair Credit Reporting Act. Issues regarding environmental policies and their consideration by insurers and state insurance regulators. Issues related to the Terrorism Risk Insurance Program. H.R. 7128, TRIA Program Reauthorization Act of 2026, all provisions.

on behalf of Florida Association of Public Insurance Adjusters

2026

Senate LDAView filing →

on behalf of Florida Insurance Council

2026

Senate LDAView filing →

on behalf of Latin American Association of Insurance Agencies

2026

Senate LDAView filing →

on behalf of Latin American Association of Insurance Agencies

2026

Senate LDAView filing →

Sponsors

Connected Entities

Sources

Open source document

openstates.org

Analysis Score

0–100
  • Significance80
    How much this matters to a regular citizen
  • Controversy20
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz15
    Current news / social attention level

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