- January 17, 2014
- All Florida Issuing Offices
- GENERAL - Data Call
The Florida Office of Insurance Regulation (“OIR”) has been authorized by the State legislature (Section 627.782 Florida Statute) to compile data regarding the business operations of title insurance underwriters and licensed title agencies. The data will be used to determine whether the title insurance promulgated rates should be adjusted.
It is mandatory that all licensed agents comply. As of now, data for the year 2014 will have to be reported by March 31, 2015. However, the legislature will consider a bill in the upcoming session which would postpone the due date to May 31, 2015.
Copies of the forms that will need to be filled out are included below. The forms can also be viewed at the OIR web page at www.MyFloridaCFO.com/Divisions/Agents/Industry/Laws-Rules/TitleAgency/DataCall.htm. We expect that software operators will develop programs that will assist you with filling out the forms. In addition, the Florida Land Title Association (FLTA.org) is an outstanding resource of information and support.
Additional information about the data call may be found on the website for the Office of Insurance Regulation at www.floir.com/Sections/PandC/Title/default.aspx.
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.