Industry News
September 15, 2009
Title Regulations Proposed on Underwriting Contracts
On August 21, 2009, the California Department of Insurance (CDI) sent out proposed regulations for review and comment. In short, the proposed regulations would prohibit an underwriting agreement, or other contractual agreement, from having a provision that provides indemnification by an underwritten title company to an insurer for more than $5,000 in non-escrow losses.
A public hearing has been scheduled to solicit comments on the Proposed Regulations for Monday, October 5th, at its San Francisco offices.
