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Industry News

September 21, 2010

Loss Deductible Regulations

The California Department of Insurance (CDI) submitted its proposed regulations on UTC loss deductibles to the Office of Administrative Law (OAL). The proposed regulations limit the UTC responsibility for a loss to $5,000 unless caused by willful or intentional acts of the underwritten title company. The OAL has 30 working days to review the regulations for approval or disapproval.