SB 1028 Expands Citizens Clearinghouse for Commercial Policies

Gov. Ron DeSantis has signed SB 1028, creating new clearinghouse programs for commercial residential and commercial nonresidential policies written through Citizens Property Insurance Corporation.

The new law, which took effect upon signature, requires Citizens to establish separate admitted and surplus lines clearinghouses for eligible commercial policies. Under the law, Citizens will first submit new or renewal applications through the admitted market clearinghouse. If no comparable offer is made by an admitted carrier within five days, the risk may then be submitted to the surplus lines clearinghouse.

For purposes of determining eligibility, the total cost of coverage, including premium, fees, taxes, assessments, surcharges and other policyholder charges, may not be more than 15% higher than comparable coverage through Citizens.

Participating surplus lines insurers must have an A- or better AM Best rating and a financial size category of A-VII or higher. 

The law also includes provisions related to agent commissions, ownership of client information and Office of Insurance Regulation oversight. Citizens must select commercial clearinghouse administrators within 90 days, and the Office of Insurance Regulation must review and approve the program within three months.

For a copy of SB 1028, please visit: https://www.flsenate.gov/Session/Bill/2026/1028

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