Despite accusations by various state officials that titleinsurers paid kickbacks to win business, the head of a major titleinsurance firm said he is glad that state regulators are focusingon his industry.
Ted Chandler, chief executive of LandAmerica Financial Group,whose company has had its legal tangles with state officials, saidthe result of their attention "will be messy at times, but at theend of the day a lot of good comes from state regulatorspromulgating clear rules and regulations==and I hope they enforcethe hell out of them."
The activity that has sparked investigations by Colorado,California and Washington has involved the title companies'purchase of reinsurance from captive insurers operated bydevelopers and others who supplied them with business.
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