CS/CS/HB 413 Summary

• Amends Florida Statutes section 627.778 to allow title insurers to obtain reinsurance from eligible reinsurers meeting section 624.610 requirements, in addition to authorized insurers.

• Authorizes title insurers to cede portions of total risk to authorized insurers or reinsurers that meet section 624.610 requirements, clarifying that ceded insurance constitutes retention by the assuming insurer, not the ceding insurer.

• Permits simultaneous issuance of title insurance policies on different estates, liens, or interests in the same property if each policy excepts paramount estates and conforms to applicable requirements.

• Effective date: July 1, 2016.