Florida Senate - 2014 SB 462 By Senator Bradley 7-00589-14 2014462__ 1 A bill to be entitled 2 An act relating to title insurance rates; amending s. 3 627.782, F.S.; revising the date that certain 4 information relating to title insurance rates must be 5 submitted to the Office of Insurance Regulation by 6 title insurance agencies and insurers; providing an 7 effective date. 8 9 Be It Enacted by the Legislature of the State of Florida: 10 11 Section 1. Subsection (8) of section 627.782, Florida 12 Statutes, is amended to read: 13 627.782 Adoption of rates.— 14 (8) Each title insurance agency and insurer licensed to do 15 business in this state and each insurer’s direct or retail 16 business in this state shall maintain and submit information, 17 including revenue, loss, and expense data, as the office 18 determines necessary to assist in the analysis of title 19 insurance premium rates, title search costs, and the condition 20 of the title insurance industry in this state. Such
This21 information shall mustbe transmitted to the office annually by 22 May March31 of the year after the reporting year. The 23 commission shall adopt rules relating to regardingthe 24 collection and analysis of the data from the title insurance 25 industry. 26 Section 2. This act shall take effect July 1, 2014.