Florida legislation · 2026 Regular Session
Florida H1053: Insurers
Status: Failed, January 6, 2026
Revises definition of term "retention" for purpose of reimbursement from Florida Hurricane Catastrophe Fund; revises reimbursement amount promised by board in contract with property insurers; revises minimum of loss adjustment expenses; provides hurricane loss portion of formula that determines actuarially indicated premiums to be paid to fund; authorizes, rather than requires, such formula to provide for cash build-up factors; removes obsolete language; revises cash build-up factor for specified contract year; provide that risk retention groups registered to do business in state are deemed insurance companies authorized go do business in state.
What the bill says
An act relating to insurers; reenacting and amending s. 215.555, F.S.; revising the definition of the term "retention" for the purpose of reimbursement from the Florida Hurricane Catastrophe Fund; revising the reimbursement amount promised by the board in the contract with property insurers; revising the minimum of loss adjustment expenses; providing the hurricane loss portion of the formula that determines the actuarially indicated premiums to be paid to the fund; authorizing, rather than requiring, such formula to provide for cash build-up factors…
From the introduced text, January 6, 2026:
A bill to be entitled An act relating to insurers; reenacting and amending s. 215.555, F.S.; revising the definition of the term "retention" for the purpose of reimbursement from the Florida Hurricane Catastrophe Fund; revising the reimbursement amount promised by the board in the contract with property insurers; revising the minimum of loss adjustment expenses; providing the hurricane loss portion of the formula that determines the actuarially indicated premiums to be paid to the fund; authorizing, rather than requiring, such formula to provide for cash build-up factors; removing obsolete language; revising the cash build-up factor for a specified contract year; amending s. 627.944, F.S.; providing that risk retention groups registered to do business in this state are deemed insurance companies authorized to do business in this state; reenacting s. 215.5551(3)(b), F.S., relating to Reinsurance to Assist Policyholders program, to incorporate the amendments made to s. 215.555, F.S., in a reference thereto; providing an effective date. Be It Enacted by the Legislature of the State of Florida: Section 1. Paragraph (e) of subsection (2), paragraph (b) words underlined are additions. hb1053-00 FLORIDAHOUSEOFREPRESENTATIVES HB 1053 2026 of subsection (4), and paragraph (b) of subsection (5) of section 215.555, Florida Statutes, are amended, and paragraphs (c), (d), and (e) of subsection (4), paragraph (c) of subsection (5), and paragraphs (a) and (d) of …
Sponsors
- Botana, Adam (R, HD-080) · primary sponsor
Latest actions
- : Withdrawn prior to introduction
- : Filed
Common questions
- What is H1053?
- H1053 is a bill in the Florida Legislature (2026 Regular Session): Insurers.
- What does H1053 do?
- In its own words: An act relating to insurers; reenacting and amending s. 215.555, F.S.; revising the definition of the term "retention" for the purpose of reimbursement from the Florida Hurricane Catastrophe Fund; revising the reimbursement amount promised by the board in the contract with property insurers; revising the minimum of loss adjustment expenses; providing the hurricane loss portion of the formula that determines the actuarially indicated premiums to be paid to the fund; authorizing, rather than requiring, such formula to provide for cash build-up factors…
- What is the status of H1053?
- Failed as of January 6, 2026. Latest action: Withdrawn prior to introduction (January 6, 2026).
- Who sponsored H1053?
- Botana, Adam (R, HD-080).
- Where is the official record for H1053?
- On the Florida Legislature website: https://www.flsenate.gov/Session/Bill/2026/1053
Source: official Florida record. Tracked by Delilah, AI for legislation across all 50 states and Congress.