Bill Text: FL S0462 | 2014 | Regular Session | Introduced

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Bill Title: Title Insurance Rates

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2014-05-02 - Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 321 (Ch. 2014-112) [S0462 Detail]

Download: Florida-2014-S0462-Introduced.html

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       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 This
   21  information shall must be transmitted to the office annually by
   22  May March 31 of the year after the reporting year. The
   23  commission shall adopt rules relating to regarding the
   24  collection and analysis of the data from the title insurance
   25  industry.
   26         Section 2. This act shall take effect July 1, 2014.