RESIDENT TITLE INSURANCE AGENCY

TYPE AND CLASS:
Resident Title Insurance Agency (4-12)

Florida Statutes 626.841 (2) defines a "TITLE INSURANCE AGENCY" as insurance agency under which title insurance agents and other employees determine insurability in accordance with underwriting rules and standards prescribed by the title insurer represented by the agency, and issue and countersign commitments, endorsements, or policies of title insurance, on behalf of the appointing title insurer. The term does not include a title insurer.

Application Qualifications:

Complete an online application for License and submit appropriate fees. Apply for license
Business must be located in Florida.
At time of application and throughout the existence of the license, the entity must provide the name, social security number, and address of a licensed resident title agent or an attorney in good standings with the Florida Bar. The licensed title agent or attorney will be in full time charge.
Majority owner, partner, officer and director of the agency must be fingerprinted. [Click here and follow the instructions]

Special Notes:

Fidelity bond in an amount of not less than $50,000. [ss. 626.8419(1)(a), F.S.]
Surety bond in an amount not less than $35,000 made payable to the title insurer or title insurers appointing the agency. The surety bond must be for the benefit of any appointing title insurer damaged by a violation by the title insurance agency of its contract with the appointing title insurer. [ss. 626.8419(1)(c), F.S.] Please contact your title insurer(s) regarding this if you have questions. Please do not send your bond to the Department.
Errors and omissions insurance in an amount not less than $250,000 per claim and an aggregate limit with a deductible not greater than $10,000 [ss. 626.8419(1)(b), F.S.].
The Division of Treasury, Bureau of Collateral Management can be contacted at (850) 413-3167 or their website.