The Florida State Legislature has introduced House Bill 913, a significant piece of legislation aimed at enhancing insurance requirements for certain community associations in the state. Introduced on February 23, 2025, the bill seeks to ensure that communities operating under specific chapters of Florida law maintain adequate insurance coverage to protect against catastrophic windstorm events.

The primary provision of House Bill 913 mandates that community associations must obtain insurance coverage that is sufficient to cover the probable maximum loss for a 250-year windstorm event. This requirement is intended to bolster the financial resilience of these communities in the face of increasingly severe weather patterns, which have been exacerbated by climate change. The bill stipulates that the probable maximum loss must be determined using a model accepted by the Florida Commission on Hurricane Loss Projection Methodology, ensuring that the calculations are based on reliable data.

A notable aspect of the bill is its requirement for insurance policies to undergo a thorough review and approval process by the Office of Insurance Regulation before they can be issued or renewed. This includes an assessment of the policy forms, rates, and the accuracy of the loss model applied to the insured structures. Additionally, the bill emphasizes the importance of transparency, mandating that condominium associations provide complete and accurate disclosures to unit owners prior to executing any agreements.

While the bill has garnered support for its proactive approach to disaster preparedness, it has also faced scrutiny. Critics argue that the increased insurance requirements could lead to higher costs for community associations and, consequently, for homeowners. This concern raises questions about the economic implications for residents, particularly in areas already burdened by high living expenses.

The significance of House Bill 913 lies in its potential to reshape the insurance landscape for community associations in Florida. Experts suggest that if passed, the bill could set a precedent for similar legislation in other states, particularly those prone to natural disasters. As the legislative process unfolds, stakeholders will be closely monitoring debates and amendments that may arise, as well as the bill's impact on both the insurance industry and homeowners across Florida.