FL S0622

Creates two separate reserve calculation requirements based on insurer size: domestic title insurers with less than $50 million in surplus must calculate reserves using paragraphs (a), (b), and (d), while those with $50 million or more use paragraphs (c) and (d).

Insurers that reach $50 million in surplus must continue calculating reserves at that higher level even if surplus subsequently falls below $50 million.

Establishes a 20-year amortization schedule for reserves transferred from out-of-state domicile to Florida, with an initial 35 percent release on the 45th day following domicile transfer, followed by declining annual release percentages (15 percent, 10 percent, 3 percent, 2 percent, and 1 percent in subsequent years).

Requires domestic title insurers that formerly held $50 million or more in surplus to continue using the higher reserve calculation method even if surplus later falls below that threshold.

Effective July 1, 2016.