Gov't Affairs Blog

New Mexico orders refunds of overcharges -- FLTA Board takes position in Reissue Rate Cases

11/15/2012 10:29 AM | Anonymous
Proving that Florida is not the only state having problems with ambiguities regarding reissue rates, the New Mexico Department of Insurance just entered into an agreement that will result in refunds of alleged overcharges.


On a separate front, yesterday FLTA's board has approved taking an amicus position in the appeal of one of the Florida reissue rate cases.  In that case, the plaintiffs are appealing claiming that title agents have an affirmative duty to (beyond asking their seller for the copy) to seek out and track down any prior policies.  This would be a huge burden on all agents, given that it is often impossible to identify which company may have insured a prior transaction.

More on that as it develops.


 
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