I am very pleased to update you on the legislation filed earlier this month that changed the way title premiums are set (from promulgated to "file and use").
An amendment has been filed that removes this provision from the Senate version of the bill. (It was not in the House version of the bill from the beginning.) This is great news for us.
To be clear: we are not completely out of the woods on this issue until both bills are passed by the House and Senate and signed into law by Governor DeSantis. However, we are confident this issue is behind us for this year.
Reminder: Our regulator (Office of Insurance Regulation) is responsible for reviewing title insurance rates on a regular basis and, if appropriate, proposing changes to the rates. We will be ready to participate in this process when needed!
This is a great opportunity to help with our advocacy efforts. Please give to TITL, our political committee! You can donate via credit card here https://secure.anedot.com/titleinsurancethroughlawyers/donate or print out a contribution form for mailing here https://www.thefund.com/titl/support-statement.pdf. Thank you for your support!
Melissa Jay Murphy
Executive Vice President, Chief Legal Officer,
and General Counsel