(1) An insurer may not transact title insurance and any other kind of insurance in this state.
(2) Subsection (1) does not apply to any insurer actively transacting title insurance and any other kind of insurance in this state on January 1, 1965.
(3) Subsection (1) does not preclude a title insurer from providing instruments to any prospective insured, in the form and content approved by the office, under which the title insurer assumes liability for loss due to the fraud of, dishonesty of, misappropriation of funds by, or failure to comply with written closing instructions by, its contract agents, agencies, or approved attorneys in connection with a real property transaction for which the title insurer is to issue a title insurance policy.
History.—s. 12, ch. 65-359; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 1, 2, ch. 79-16; ss. 2, 3, ch. 81-318; ss. 584, 809(2nd), ch. 82-243; s. 79, ch. 82-386; ss. 104, 114, ch. 92-318; s. 19, ch. 99-286; s. 1208, ch. 2003-261.
Structure Florida Statutes
Chapter 627 - Insurance Rates and Contracts
Part XIII - Title Insurance Contracts (Ss. 627.7711-627.798)
627.776 - Applicability or inapplicability of Florida Insurance Code provisions to title insurers.
627.7773 - Accounting and auditing of forms by title insurers.
627.7776 - Furnishing of supplies; civil liability.
627.780 - Illegal dealings in premium.
627.7831 - Commitments; charges; collection.
627.784 - Casualty title insurance prohibited.
627.7841 - Insurance against adverse matters or defects in the title.
627.7843 - Property information reports.
627.785 - Preemption by state.
627.786 - Transaction of title insurance and any other kind of insurance prohibited.
627.7865 - Title insurer assessments.
627.791 - Penalties against title insurers for violations by persons or entities not licensed.
627.792 - Liability of title insurers for defalcation by title insurance agents or agencies.