preparation of Data Call Reporting
The Florida Data Call is a comprehensive report mandated by the Florida Office of Insurance Regulation ("OIR"). This in-depth report requires each title insurance agency licensed to do business in Florida to maintain and submit information including revenue, loss, and expense data to the Office of Insurance Regulation (OIR) to assist in the analysis of title insurance premium rates, title search costs, and the condition of the title insurance industry in Florida. Failure to submit the data timely will result in fines, penalites and even loss of licenses.
Have no fear, Entrust is here.
While each operation is different, taking on the task of creating the Florida Data Call by yourself can be a massive undertaking to say the least. Entrust Solutions has created a new service in helping clients create the Florida Data Call for your specific operation. We will go through the process with you, one-on-one, and create the Data Call Report for you (based on information supplied by your office).
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For many years, title insurers have provided financial information to state regulators. Beginning in January, 2014, licensed title agencies must start capturing certain information regarding their practices, income and expenses to be reported annually. The information captured in 2014 will be reported to the Office of Insurance Regulation (OIR) in 2015.
who or what is the data call?
Each Florida licensed title agency
Each non-resident title agency with a Florida license
Direct (or retail) offices of a title insurer located in Florida
Lawyers and law firms who own a title agency and/or operate under a DFS license
Each title insurer authorized to do business in Florida
Who Must Submit?
Data Call is due by May 31st each year. There are no automatic extensions.