FLTA - NAIC meeting to address Title Insurance Matters at August Meeting

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NAIC meeting to address Title Insurance Matters at August Meeting

08/19/2011 2:09 PM | Anonymous

The National Association of Insurance Commissioners Title Insurance (C) Task Force (Task Force) will meet during the NAIC’s summer meeting Aug. 30 in Philadelphia to discuss issues related to title insurers and title insurance producers.

The Task Force will hear reports from its four working groups. The Annual Statement Instructions (C) Working Group had seven proposals approved by the Blanks (E) Working Group. The proposals involve improvements to the title annual statement and filing instructions, which include crosschecks for title filing data. ALTA’s Accounting Committee has been helpful providing information to this group.

The Task Force also will consider a Title Agent Statistical Data Plan Implementation Guideline as recommended by the Title Statistical Plan (C) Working Group. The NAIC says the guideline will assist states in implementing the Title Insurance Agent Statistical Report. The data call report and guideline will assist members in the collection of various data elements that could be useful in market analysis and market regulation. ALTA will continue to work with the NAIC to improve stat plan.