FL S0758

Establishes that title insurers are liable for all unpaid losses and claims incurred on or before the statement date, in addition to reserves required under section 625.111.

Creates a tiered reserve system for title insurers based on surplus levels: insurers with less than $50 million in surplus must use the 30 cents per $1,000 net retained liability formula, while those with $50 million or more in surplus must maintain a minimum of 6.5 percent of direct premiums written plus assumed reinsurance premiums (effective January 1, 2014).

Specifies reserve release schedules over 20 years for different premium categories, with accelerated releases for insurers holding $50 million or more in surplus (35 percent in year one versus 30 percent for smaller insurers).

Requires title insurers to obtain annual Statements of Actuarial Opinion from qualified actuaries regarding loss reserves and incurred but not reported claims, with additional reserves established if actuarial opinions exceed calculated reserves.

Addresses domicile transfers by requiring insurers changing states to maintain reserves under their former state's law but apply Florida's reserve requirements to new business written after the domicile transfer.