Florida is among the states in which we write title insurance directly. As with the rest of the states we write title in, Florida has its own rules and regulations we need to be familiar with when underwriting a policy.
Endorsements & Title Insurance Forms
The endorsements that we're acquainted with in Minnesota and the upper Midwest – we can't necessarily issue those in Florida. Instead, Florida has their own version of some of those endorsements.
The common title insurance forms we use in Minnesota, the Dakotas and most states round the country are the American Land Title Association (ALTA) forms. We also provide various title insurance policies (the loan policy, owner's policy, the leasehold policy, and so on). Talking with endorsements there are roughly 44 ALTA endorsements currently certified for use in many of states that use the conventional ALTA forms and endorsements.
Florida is not one from the standard ALTA states. Florida has created its own forms that look similar to the ALTA forms but have been specifically approved for use by the Florida Department of Insurance. The big distinction doesn't arise in the policies themselves, but rather within the endorsements that can be found. While we have 44 ALTA endorsements available in Minnesota, in Florida there are only about 8. Most of the coverages that parties are accustomed to obtaining on their policies via endorsements may not be available in Florida.
Endorsements Not Allowed in Florida
For example, the zoning endorsement that is commonly issued in many states is not likely to be available in Florida. Likewise, the ALTA 17 Series Access Endorsements are unavailable in Florida, as well because the ALTA 18 Series Tax Parcel Endorsements. Often we'll receive a list of requested endorsements from the buyer, and/or lender. When we receive that list, we are able to typically only issue two or three of those endorsements for a property in Florida. So that's something to bear in mind. If you're employed in Florida and you're advised that particular coverages aren't available it's because the regulators have specifically not approved those coverages for issuance in that jurisdiction.