Bill > H0321

This bill revises various aspects of title insurance regulation in Florida, including changes to how insurers determine their financial condition by specifying how liabilities are charged against assets and detailing specific reserves that title insurers must maintain, particularly for unearned premiums, with different requirements based on the insurer's surplus. It also clarifies that only licensed and appointed agents or agencies are authorized to sell title insurance, modifies the application process for title insurance agency licenses by removing the requirement for a surety bond or deposit and instead mandating fidelity bonds and errors and omissions insurance, and limits the available remedies for breaches of duty arising solely from a title insurance contract to contractual remedies. Additionally, the bill updates requirements for title insurance agents and agencies regarding their names and the qualifications for licensure, and adjusts the retention period for evidence of title searches.