Bulletin: FL000112

Dear Associates:

We are advised that the Department of Financial Services/ Office of Insurance Regulation (the Department) has stepped up its enforcement of certain regulations.

First, be advised that if you move your office or relocate a Branch Office and fail to advise the Department of the new address and this comes to the attention of the Department at a later date, the Department will impose a fine.  Although this appears to be an administrative oversight in an agent's office, it seems to be an increasing problem and many fines have been assessed against title agencies.

We are further advised that the Department is increasing its efforts to enforce state Statutes and Regulations including such matters as rebates and improperly formed ABA 's.  There are a number of investigations under way and a number have been resolved with fines or stipulations or both.  Stewart Title Guaranty Company distributed to all of its agents in Florida 2 Bulletins, FL000100 issued August 20, 2002, and FL000101 issued January 7, 2003.  You are invited to review those Bulletins which are found in Virtual Underwriter

We are attaching to this Bulletin two exhibits, noted as Exhibits A & B, respectively, previously distributed by the Department; ABA standards (Exhibit A); and, the text of Department Information Bulletin on Improper Practices (Exhibit B).  We urge you to comply with these two Exhibits, all Statutes and the Administrative Code.