- September 14, 2006
- All Florida Agents
- Florida Data Call 2006
The Office of Insurance Regulation has recently announced that it intends to publish a proposed Rule on Statistical Gathering. It is uncertain at this moment when the Rule will be published and what it will say but we anticipate that it will be similar to the proposed Rule which was considered in the meeting the Department held on June 15th, 2006.
We believe it calls for some in depth statistics to be supplied not only by underwriters but also by licensed agents. The Rule may be subject to a public hearing, on a day to be determined, most likely to take place inTallahassee at the Larson Building. There was a proposed deadline for submitting information of September 30th, 2006 and we are advised that that date has been pushed back to October 30th, 2006, and potentially beyond October 30th, 2006. The date for filing is at this time not determined.
We believe you can obtain a copy of the draft of the proposed Rule by email from:
Lawrence J. Steinert
Actuary - Specialty Lines
If you contact Mr. Steinert, he will also put you on a mailing list where you will receive other communications as they arise from the department concerning Title Insurance and they will be forwarded to your email address.
When you have obtained a copy of the Data Call draft, we encourage you to begin assembling the information as we do not know what the time limits may be.
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.