DeSantis’ Budget Would Triple Funding for Wind Mitigation Grant Program

Florida’s 2025-2026 state budget, as proposed by Gov. Ron DeSantis, would provide some $600 million for home and condominium hardening grants – almost triple what lawmakers approved for the popular programs last year.

In his budget posted this week, DeSantis requested about $590 million for the My Safe Florida Home program, and $30 million for the My Safe Florida Condominium Pilot Program, according to state news reports. If fully funded by lawmakers, that would be much more than the $200 million the Legislature agreed to in early 2024 – funding that was quickly allocated as homeowners across the state applied for the $10,000 matching grants.

The current wait list for the programs is now above 45,000, the Florida Office of Insurance Regulation reported.

The governor’s proposed budget also would set aside more than $1 million for the OIR, including:

• $475,000 to contract with a reinsurance expert to analyze reinsurance cycles. Reinsurance continues to play a major role in the property and casualty market, and funding will ensure that reinsurance is appropriately evaluated and monitored, the office noted in a statement.
• $330,000 to establish a secondary OIR office to recruit additional, qualified professionals to support OIR’s mission, and to attract more talent to review rate and form filings and compliance from insurance companies.
• $310,000 to bolster OIR’s data collection and analytics efforts.

Florida’s regularly scheduled legislative session begins March 6.

Top photo: Tim Mullen, 47, and Michael Brissette, 11, cover their windows with hurricane shutters in preparation for Tropical Storm Elsa, Tuesday, July 6, 2021 in Tampa, Fla. (Arielle Bader/Tampa Bay Times via AP)

Topics Mergers & Acquisitions