Pursuant to Section 627.782, Florida Statutes, title insurance agencies and insurers licensed to do business in this state must maintain and submit certain information to the Office, including revenue, loss, and expense data. This statute authorizes ...  

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    FINANCIAL SERVICES COMMISSION

    OIR – Insurance Regulation

    RULE NO.:RULE TITLE:

    69O-186.014Title Insurance Statistical Gathering-Title Insurance Underwriters

    PURPOSE AND EFFECT: Pursuant to Section 627.782, Florida Statutes, title insurance agencies and insurers licensed to do business in this state must maintain and submit certain information to the Office, including revenue, loss, and expense data. This statute authorizes rulemaking to collect and analyze such data from the title insurance industry.

    The current version of Rule 69O-186.013, F.A.C., implements the provisions of Section 627.782, Florida Statutes, by listing the types of information that shall be submitted to the Office by title insurance agencies and insurers. The Office has proposed to strike the current language of the rule and to replace it with new language pertaining to Title Insurance Experience Reporting-Agents and Retail Offices of Direct-Writing Title Insurance Underwriters.

    In addition the Office is proposing new Rule 69O-186.014, F.A.C., implementing the provisions of Section 627.782, Florida Statutes, by listing the types of information that shall be submitted to the Office by title insurance insurers alone. The new Rule 69O-186.014, F.A.C., adopts a form, entitled “OIR-XXXXXX Title Insurance Experience Reporting-Underwriters”. This form will be submitted to the Office electronically by title insurance insurers to comply with the reporting requirements of Section 627.782, Florida Statutes. The statistical data collected will be used for the purpose of analyzing premium rates, retention rates, and the condition of the title insurance industry.

    SUBJECT AREA TO BE ADDRESSED: New Rule 69O-186.014, F.A.C.

    RULEMAKING AUTHORITY: 624.308 FS.

    LAW IMPLEMENTED: 624.307(1), 627.782 FS.

    IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:

    DATE AND TIME: July 10, 2013, 1:30 p.m.

    PLACE: 116 Larson Building, 200 East Gaines Street, Tallahassee, Florida

    Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Peter Rice, Office of Insurance Regulation, E-mail Peter.Rice@floir.com. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

    THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Peter Rice, Office of Insurance Regulation, E-mail Peter.Rice@floir.com

    THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.