SB 114 Florida Senate · 2025 Regular Session

Insurance Research

Summary
Insurance Research; Renaming the Florida Catastrophic Storm Risk Management Center to the Florida Center for Excellence in Insurance and Risk Management; requiring the center to collaborate with the Office of Insurance Regulation to produce an annual report analyzing the property insurance market in this state; requiring the center to use the public hurricane loss projection model when necessary; requiring the office to contract with the center to manage the public hurricane loss projection model; providing for a type two transfer of the public hurricane loss projection model from Florida International University to Florida State University, etc.
Bill status died 3 of 5 stages cleared
Introduction
Mar 2025
Committee Review
Apr 2025
Senate Passage
Apr 2025
House Passage
Governor
Introduced Mar 4, 2025 Last action Jun 16, 2025
Maddy AI version diff · 1 comparison

What changed between versions

S 114 Filed S 114 e1 · 7 edits
MODERATE
This bill reorganizes the Florida Catastrophic Storm Risk Management Center by renaming it to the Florida Center for Excellence in Insurance and Risk Management and transferring its operations from Florida International University to Florida State University. The updated center will produce an annual property insurance market report by January 1, 2026, updated every two years, and will manage the public hurricane loss projection model. The bill also expands the center's research areas to include broader insurance types and adds requirements for conferences and actuarial education programs.
Scope change
The bill expands the center's scope from primarily catastrophic storm research to include broader insurance research areas including health, life, workers' compensation, and motor vehicle insurance, while also adding educational and conference requirements.
REQUIREMENT

Renamed the Florida Catastrophic Storm Risk Management Center to the Florida Center for Excellence in Insurance and Risk Management

Transferred management of the public hurricane loss projection model from Florida International University to Florida State University via a type two transfer

Added requirement for center to organize and sponsor conferences, symposia, and workshops to educate consumers and policymakers

Added requirement for center to develop a program encouraging actuarial science students to practice in the public sector

Expanded research scope to include health, life, workers' compensation, and motor vehicle insurance in addition to property and catastrophic storm research

Added requirement for center to use public hurricane loss projection model when needed to meet its obligations under the statute

TIMELINE

Added requirement to publish initial property insurance market report by January 1, 2026, with updates at least every two years

Floor votes · Senate Apr 9, 2025

How they voted

370
Passed · 1 other
Total votes 38
Apr 9, 2025
D Democratic10
10 Yea
100% Yea
I Independent1
1 Yea
100% Yea
R Republican27
26 Yea 1
96% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
19
Key actions
7
Committee
6
Apr 9, 2025
Upper · Passed
Passed as amended; YEAS 37 NAYS 0
upper
Apr 9, 2025
Upper · Passed
Amendment(s) adopted (235898)
upper
Apr 2, 2025
Upper · Passed
Favorable by- Appropriations; YEAS 18 NAYS 0
upper
Mar 31, 2025
Upper · Passed
On Committee agenda-- Appropriations, 04/03/25, 9:00 am, 412 Knott Building --Meeting cancelled
upper
Mar 28, 2025
Upper · Passed
On Committee agenda-- Appropriations, 04/02/25, 9:00 am, 412 Knott Building
upper
Mar 24, 2025
Upper · Passed
Favorable by Appropriations Committee on Higher Education; YEAS 8 NAYS 0
upper
Mar 19, 2025
Upper · Passed
On Committee agenda-- Appropriations Committee on Higher Education, 03/24/25, 4:00 pm, 110 Senate Building
upper
Mar 4, 2025
Introduced
Introduced
upper
Feb 25, 2025
Committee
Referred to Appropriations Committee on Higher Education; Appropriations
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jay Trumbull
Jay Trumbull
RRepublican
FL
2