New GTO, CPL & Fund Attorney Shout Out

Dear Members,

It's a great time of year! Weather is, for the most part, glorious. Flowers are blooming!  And Assembly is right around the corner. Hope to see you in Orlando for the world's best industry meeting!

Here's what is going on this week:

First, there is a new GTO from FinCEN. Nothing changes in Florida. The current GTO is continued through October 21. No changes to the areas covered (Miami-Dade, Broward and Palm Beach) nor any changes to the threshold ($300,000). Here is a link to the Alert we sent out.  ******** 

Finally!  The new Closing Protection Letter is in place. On March 1, 2023, Florida’s Office of Insurance Regulation approved the use of the 2021 ALTA Closing Protection Letter (CPL), with Florida modifications. To ensure that Fund members have access to the most current forms, all new CPLs ordered through Member software or via WebCPL on will be on the new 2021 CPL form.

Many of the same coverages and exclusions are carried through to the new CPL. However, one notable revision is clarification that the coverage under the new CPL extends to the acts of the issuing agent or approved attorney but that there is no coverage for acts perpetrated by the insured party, acts perpetrated by parties other than the underwriter, issuing agent, or approved attorney, or the diversion of funds to persons or accounts not entitled to transaction funds due to cyber fraud. For further discussion, please review the article published in the Fund Concept at the link below.

Fund attorneys on Florida Bar Committees. Fund attorneys are involved!  Many of our Fund legal staff are on committees of the "big Bar" and should be congratulated on their service to the profession. Here they are:

  • Rebecca Wood: Real Estate Board Certification Committee (Vice Chair).
  • Colleen Sachs: Senior Lawyers Committee (Vice Chair); Diversity and Inclusion Committee.
  • Marilyn Israel: Continuing Legal Education Committee
  • Peggy Williams: Standing Committee on Professionalism

Thank them for their service when you get a chance!

Legislative wrap-up. I expect to be able to give you a high level wrap-up of the legislative session in my next blog. It was a busy, busy year. Some good stuff, some "meh" stuff.  Stay tuned!


Melissa Jay Murphy
Executive Vice President, Chief Legal Officer,
and General Counsel