Bill > S0462

This bill revises the deadline for title insurance agencies and insurers to submit important financial information, such as revenue, loss, and expense data, to the Office of Insurance Regulation, which is the state agency responsible for overseeing insurance matters. Previously, this information was due by March 31st of the year following the reporting period, but this bill changes that deadline to May 31st, providing an additional two months for these submissions. This data is crucial for the office to analyze title insurance premium rates, understand title search costs, and assess the overall health of the title insurance industry in Florida. The bill also updates language to reflect this change and specifies that the commission will adopt rules regarding the collection and analysis of this industry data.