The Washington State Insurance Commissioner's Office became the latest official agency yesterday to disclose findings of alleged widespread illegalities by title insurance companies to obtain customers.
Washington Insurance Commissioner Mike Kreidler said the findings were a "real shocker," and that there was such a volume of past violations it would be too costly to pursue them--so rather than seek fines, he will focus on preventing future violations.
Mr. Kreidler said his office will also study title insurance from the consumer's perspective and consider the Iowa system, where the state abolished title insurance and established an arm of government to provide low-cost title protection.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
