Title Insurance Expert

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BILL HAGER

EXPERT WITNESS

SUMMARY OF

MOST PERTINENT TITLE INSURANCE EXPERTISE

In connection expert title opinions, I will draw on my expertise (i) as summarized immediately below, and (ii) as set forth at my website at https://expertinsurancewitness.com/

The scope of my retention generally calls for application of my expertise in the following areas: (i) title insurers and title insurance policies;(ii) the rules and regulations that come to bear on such insurers and policies; (iii) a title insurer’s claim settlement obligations, (iv) all in custom and practice.

Brief Summary of my Applicable Expertise.

1 Applicable Title Insurance Expertise: State Regulation of Insurance. My expertise as to these matters can be found as follows: I am a former:

  • Commissioner of Insurance (Iowa); as appointed by the Governor of Iowa;

  • First Deputy Commissioner of Insurance, as appointed by the Commissioner of Insurance; and

  • Assistant Attorney General, as appointed by the Attorney General of Iowa; assigned on a full-time basis to the Department of Insurance (Iowa)1.

  • Administrative Law Judge, f/k/a Hearing Officer, as appointed by the Commissioner of Insurance;

In those capacities, on a daily basis, I had full regulatory oversight and responsibility for (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.2

2 Applicable Title Insurance Expertise: National Regulatory. My expertise as to these matters can be found as follows: I am a former:

  • Member of the National Association of Insurance Commissioners (NAIC);

  • Elected Member of its Executive Committee,

  • As a Member of the Executive Committee. I had regulatory oversight over all committees, including the “C” Committee on Property Casualty Insurance.

The mission of the Property and Casualty Insurance (C) Committee is to: 1) monitor and respond to problems associated with the products, delivery and cost in the property/casualty (P/C) insurance market and the surplus lines market as they operate with respect to individual persons and businesses; 2) monitor and respond to problems associated with financial reporting matters for P/C insurers that are of interest to regulatory actuaries and analysts; and 3) monitor and respond to problems associated with the financial aspects of the surplus lines market. Included in all of this of course is title insurance

In addition, my service on the following NAIC Committees was also helpful in this regard:3

  1. Member, the Blanks Committee
  2. Member, Guarantee Fund Committee
  3. Member, Rehabilitator and Liquidators Committee
  4. Member, Casualty Actuarial Committee
  5. Member, Commercial Lines Committee
  6. Member, Valuation of Securities Committee,
  7. Member, International Insurance Relations Committee
  8. Member, Accounting Practices and Procedures Committee and
  9. Member, State and Federal Legislative Committee.

Ongoing Regulatory Involvement. In the years since leaving the regulatory ranks, I have continued to be closely involved with the NAIC and the regulatory community. As President and CEO of NCCI, I was in regular attendance at meetings of the NAIC and continue to attend these meetings and to be actively engaged with the regulatory process. Included in this attendance were my observations at the NAIC of the regulation of the property casualty industry.

In those capacities, on a regular basis, I had national regulatory oversight and responsibility for and the application of: (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

3A Applicable Title Insurance Expertise: Current Legislative. In addition to my regulatory background at both the state and national level, I am serving in the following capacities, each of which included daily knowledge of and interaction with title insurance issues as they relate to (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

  • Elected Member of the Florida House of Representatives (currently)4 where I serve or have served as a Member and Vice Chairman of the Insurance Committee (among other committees) as well as its parent committee, the Commerce Committee, which collectively have legislative oversight over all insurance operations in the state (as administered by the Florida Office of Insurance Regulation) including those relating title insurance and title insurer’s obligations.

  • In addition, I have sat on and served as Vice Chairman of the Civil Justice Subcommittee of the Florida House, which has responsibilities as to Florida laws that establish (among other things) liability, including that of title insurer’s liability;

3B Applicable Title Insurance Expertise: Prior Legislative. In addition to my regulatory background at both the state and national level and my current legislative experience, I have served in the following capacities, each of which included daily knowledge of and interaction with issues relating to: (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

  • Legal Counsel to the Iowa House of Representatives;

  • Chief of Staff at the U.S. House of Representatives,

  • Elected Member of the Boca Raton City Council; Deputy Mayor of the City of Boca Raton, where I served as the Council’s lead on insurance issues;

4 Applicable Title Insurance Expertise: Industry. In addition to my regulatory background and my legislative background as to title insurance, I have served or am serving in the following capacities, each of which included daily knowledge of and interaction with insurance agent issues in the following ways: (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

President and Chief Executive Officer of the National Council on Compensation Insurance (NCCI), a major U.S. property casualty insurance company doing business throughout the United States, which employs about 1,000 personnel. While CEO, this position entailed responsibility for formulating all policies forms, endorsements and underwriting criteria for use in each of the various states, including gaining approval by the Departments of Insurance in the various states.

5 Applicable Title Insurance Expertise: Industry/ Actuarial. In addition to my regulatory background at both the state and national level and my legislative background and my industry background, I have also served or am serving in the following capacities, each of which included daily knowledge of and interaction with title insurance in the following ways (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

  • American Academy of Actuaries, Washington, D.C., (whose members are often intimately involved in title insurance in terms of establishing premiums) where I served as General Counsel and Chief Lobbyist;

  • Actuarial Standards Board (ASB), Washington D.C.; I served as legal counsel to the Interim Actuarial Standards Board. ASB formulates professional standards that come to bear on the work product of actuaries and parallels the Financial Accounting Standards Board (FASB) of the accounting profession.

6 Applicable Title Insurance Expertise: Industry/ Additional Actuarial Background. In addition to my regulatory background at both the state and national level and my legislative background and my industry background, I have also served or am serving in the following capacities, each of which included daily knowledge of and interaction with title insurers in the following ways: (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

  • Commissioner of Insurance (IA), where I had statutory responsibility to approve or disapprove title insurers and their policies and their claim handling;

  • First Deputy Commissioner of Insurance, (IA), where, as the number two position in the Department of Insurance, with title insurer obligations parallel to that of the Commissioner.

7 Applicable Title Insurance Expertise: Insurance Arbitration. In addition to my regulatory background and my legislative background and my industry background as to title insurance issues, I am serving in the capacity of a reinsurance arbitrator, which requires knowledge of and interaction with agent issues in the following ways: (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

  • Nationally certified Insurance Arbitrator (ARIAS-US), where I sit as an arbitrator on disputes between (among others) insurers and other insurers and enter decisions as such matters;

8 Applicable Title Insurance Expertise: Reinsurance Arbitration. In addition to my regulatory background and my legislative background and my industry background and my actuarial background as to title insurance matters, I am serving in the capacity of a reinsurance arbitrator, which requires knowledge of and interaction with title insurance matters in the following ways: (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

  • Nationally certified Reinsurance Arbitrator (ARIAS-US), where I sit as an arbitrator on disputes between (among others) insurers and their reinsurers and enter decisions as to title insurance issues when they occasionally arise;

9 Applicable Title Insurance Expertise: Legal Current. In addition to my regulatory and industry and legislative and actuarial and reinsurance arbitration background, I have served or am serving in the following legal capacities, each of which included daily knowledge of title insurance matters in the following ways: (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

  • I am an attorney admitted to practice in Florida, Illinois5 and Iowa (all upon examination) with an insurance practice;

  • Practicing attorney (currently) in Boca Raton, Florida at the Hager Law Firm, with my practice limited to insurance and reinsurance matters;

10 Applicable Title Insurance Expertise: Prior Legal Experience. In addition to my regulatory and industry and legislative and actuarial and reinsurance arbitration and current legal background, I have served in the following legal capacities, each of which included daily knowledge of title insurance matters in the following ways: (i) title insurers and title insurance policies; (ii) the rules and regulations that come to bear on such insurers and policies; and (iii) a title insurer’s claim settlement obligations.

  • Legal Counsel to the Iowa House of Representatives;

  • Practicing attorney at Hager & Schachterle;

  • Iowa Counsel to the Property Casualty Insurance Association of America (PCIAA), the U.S. trade association of smaller property casualty stock insurance companies, some of whom sold title insurance;

  • Legal Counsel to the Professional Insurance Agents of Iowa);

  • Legal Counsel to the Iowa Association of Life Underwriters (life, health and annuity insurance agents).

  • General Counsel and Chief Lobbyist to the American Academy of Actuaries;

11 Applicable Title Insurance Expertise: Formal Undergraduate Education as a Bases for Expertise. In addition to my regulatory experience at the state and national level, my legislative, industry, actuarial, arbitration and legal background, my undergraduate educational background has also prepared me to provide title expertise as follows:

  • Bachelor’s degree: Mathematics – University of Northern Iowa;

12 Applicable Title Insurance Expertise: Formal Graduate Education as a Bases for Expertise. In addition to my regulatory experience at the state and national level, my legislative, industry, actuarial, arbitration and legal background and my undergraduate education, my graduate educational background has also prepared me to provide title expertise as follows:

  • Master’s degree: Educational Psychology, University of Hawaii; and

  • Juris Doctorate degree (law degree) from the University of Illinois;

13 Applicable Title Insurance Expertise: Certifications as a Bases for Expertise. In addition to my regulatory experience at the state and national level, my legislative, industry, actuarial, arbitration and legal background and my educational background, the following certifications also show applicable expertise as follows:

  • Certified U.S. Reinsurance Arbitrator;

  • Certified U.S. Insurance Arbitrator;

14 Applicable Title Insurance Expertise: Licenses and Certifications as a Bases for Expertise. In addition to my regulatory experience at the state and national level, my legislative, industry, actuarial, arbitration and legal background and my educational background and my insurance certifications, my licenses also show applicable expertise as follows:

  • Bar Admission: U.S. Supreme Court;

  • Bar Admissions, the states of Iowa, Illinois and Florida, all by examination;

In the aggregate, these experiences have given me a significant grounding to provide expert title insurance testimony. Further detail as to my title insurance expertise can be reviewed at my website:

  • As to my insurance background in general, it can be reviewed at my website at https://expertinsurancewitness.com/, and includes materials relating to my regulatory, legislative, legal, actuarial, reinsurance arbitration backgrounds.

END OF THIS DOCUMENT.

1 Functioning as the Department’s general counsel.

2 Because the title insurance business is conducted across state lines and more specifically, nationally, the rules and regulations (by whatever name) are substantially similar state over state. My point is that my experience as Commissioner of Insurance in Iowa is substantially similar to parallel experience and positions in the balance of the states. This experience is bolstered by my 44 years of direct insurance experience, including that of being a CEO of a major property casualty entity doing business throughout the U.S., including my (current) eight years of experience as an elected Member of the Florida House of Representatives where I currently serve or have served as Member and Vice Chairman of the Insurance Committee as well as its upstream parent committee, the Commerce Committee, with statutory and legislative oversight over insurance agent issues.

3 For cohesion and consistency, I have used the Committee names utilized when I served. The formal names of the committees change from time to time, though the missions stay relatively similar.

4 I am currently beginning my 8th year in the Florida House of Representatives.

5 My Illinois license has been placed in inactive status by me. It is eligible for reactivation at any time at my volition. This is so because I am in good standing with the Illinois Bar.