FL H0321

Revises title insurance reserve requirements for domestic title insurers, including a minimum 6.5% reserve for insurers with $50+ million surplus effective January 1, 2014, and specifies a 20-year release schedule for reserves.

Requires all domestic title insurers to obtain annual Statements of Actuarial Opinion regarding loss reserves and includes procedures for adding actuarial provisions to unearned premium reserves.

Specifies that only licensed and appointed title insurance agents or agencies are authorized to sell title insurance, and adds restrictions on names that title agents or agencies may adopt.

Deletes certain bonding and deposit requirements for title insurance agency licenses while maintaining fidelity bond, errors and omissions insurance, and surety bond requirements for agency appointments.

Changes title insurance rate filing deadline from May 31 to March 31 annually and limits remedies for breach of duty arising from title insurance contracts to contractual remedies only.