Section 627.782(8), F.S., provides that the Commission may, by rule, require title insurance licensees to annually submit statistical information so the Office can analyze premium rates, retention rates and the condition of the title insurance ...

 

69O-186.013 Title Insurance Statistical Gathering.

(1) By June 1 of each year after 2006, lLicensed title insurance agencies and title insurers must electronically submit statistical data to the Office.  The submittal shall be accomplished by electronically completing OIR Forms OIR-B1-1682, Agent Cover Letter (07/26/06); OIR-B1-1683, Agent Data Call (07/26/06); OIR-B1-1684, Insurer Cover Letter (07/26/06); and OIR-B1-1685, Insurer Data Call (07/26/06); as applicable to the title agency or title insurer, as adopted and incorporated by this reference.  Forms OIR-B1-1682 , Agent Cover Letter (07/26/06), and OIR-B1-1683, Agent Data Call (07/26/06), are to be completed by title agencies.  Forms OIR-B1-1684, Insurer Cover Letter (07/26/06), and OIR-B1-1685, Insurer Data Call (07/26/06), are to be completed by title insurers.  The submittal shall reflect data for the prior year ending December 31.  Pursuant to Section 627.782, Florida Statutes, the statistical data is collected for the purposes of analyzing premium rates, retention rates, and the condition of the title insurance industry. or an entity chosen by the Office as frequently as required by the Office, not to exceed once annually.

(2) OIR Forms OIR-B1-1682, Agent Cover Letter (07/26/06) and OIR-B1-1684, Insurer Cover Letter (07/26/06) shall be submitted electronically in Microsoft Word  compatible format.  OIR Forms OIR-B1-1683, Agent Data Call (07/26/06) and OIR-B1-1685, Insurer Data Call (07/26/06) shall be submitted electronically in Microsoft Excel  compatible format.  All submittals shall be to https://iportal.fldfs.com, the industry portal to the Office’s I-File System, as an “informational filing.”  A filing shall be considered received by the Office on business days between the hours of 8:00 a.m., and 5:00 p.m., Eastern Time.  Filings received after 5:00 p.m., shall be considered to be received the next business day.  The data shall include:

(a) Income, loss and expense information to analyze risk premium and charges for related title services,

(b) Retention rates and the condition of the title insurance industry,

(c) Data regarding production of title evidence,

(d) Premium income from agency/agents, and

(e) Premium income from insurer direct operations.

(3) The Commission will, among other relevant factors, use the data submitted to the Office pursuant to this rule in adopting rules specifying:

(a) the premium to be charged in this state by title insurers for the respective types of title insurance contracts,

(b) for policies issued through agents or agencies, the percentage of such premium required to be retained by the title insurer, and

(c) any limitations on related title services charges.

Hence, title insurers may wish to ensure that title agencies with whom they do business make accurate, timely and complete data submittals pursuant to this rule.

(4) Pursuant to Section 815.045, Florida Statutes, “trade secret information,” as defined in Section 812.081, Florida Statutes, and as provided for in Section 814.043, Florida Statutes, is confidential and exempt from the public records law.  However, a claim that some portion of the information to be submitted to the Office pursuant to this rule is trade secret information shall not be a ground for any failure to submit the information required by this rule.  Failure to submit information as required by this rule shall be a violation of the Insurance Code and shall subject the licensed title insurance agency or licensed title insurer to sanctions.  If a public records request is made to the Office and if the Office determines that a response would make available information which the submitter has indicated is “trade secret information,” the Office will notify the agency or insurer to determine if the information should still be protected as trade secret information.  The agency or insurer should be prepared to take formal measures to protect any information which the agency or insurer maintains should be protected as trade secret information.  For every information submittal pursuant to this rule, any claim of trade secret information must take the following form:

(a) each document claimed to contain trade secret information shall be submitted to the I-File System, and the submitting agency or insurer shall check the trade secrets indicator flag appearing in I-File;

(b) every portion of a document claimed to contain trade secret information shall be clearly marked on each page claimed to contain trade secret information, and each such page shall be clearly marked to specify the portion of the text claimed to contain trade secret information; and

(c) for every submittal for which a claim is made that such submittal contains trade secret information, the submitter shall additionally include a separate document titled “Trade Secret Summary” which must identify each document and each page of a document claimed to contain trade secret information and for each claim of trade secret information must specify the detailed factual basis on which each such claim is made.

Specific Authority 624.308, 624.424(1)(c), 627.782(8), FS. Law Implemented 624.307(1), 624.311, 627.7711, 627.782, 812.081, 815.045, FS. History–New 2-13-95, Formerly 4-186.013, Amended_________________.