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Committee adopts oversight language for Citizens commercial clearinghouse bill

Commerce Committee · February 24, 2026

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Summary

The committee approved a strike‑all for CS for HB 943 to create a commercial clearinghouse for Citizens Property Insurance with Office of Insurance Regulation oversight and a prohibition on using public funds. Sponsor said the changes address OIR concerns and the bill was reported favorably.

Representative Redondo presented CS for HB 943, describing Citizens Property Insurance as an insurer of last resort and proposing a commercial clearinghouse for surplus lines commercial policies to improve availability by 2027. He said the strike‑all amendment gives the Office of Insurance Regulation (OIR) regulatory oversight and expressly prohibits use of public funds for the clearinghouse's creation or operation.

Members asked whether OIR's concerns were allayed; the sponsor said the strike‑all adds substantially more oversight than typical surplus lines practice. There was no public testimony on the strike‑all, it was adopted, and the bill was reported favorably by roll call.

Next steps: the bill moves forward with OIR oversight language included in the committee amendment.