DOI Issues Bulletin re: Compliance with Title Insurance Filing Requirements

The Department of Insurance issued a Bulletin reminding “all title insurers, underwritten title companies, and controlled escrow companies of the California Insurance Code’s title insurance filing requirements set forth in California Insurance Code Sections 12401, et seq.,” and that “[t]hese filing requirements are expected of every title insurer, underwritten title company, and controlled escrow company, no matter which insurer underwrites the policy.”

​The Bulletin goes on to quote several provisions of existing law pertaining to title insurance, including sections providing that rates shall not be excessive nor unfairly discriminatory, that all rates shall be filed, and that no rates shall be used prior to their effective date.

Lastly, the Bulletin reminds

“[a]ll title insurers, underwritten title companies, and controlled escrow companies” that they “are required to file their rates with the California Department of Insurance (“Department”) through the System for Electronic Rate and Form Filings (SERFF) at https://www.insurance.ca.gov/0250-insurers/0800-rate-filings/.”

This Bulletin also gives notice of the Department’s intention to fully enforce the title rate filing sections of the Insurance Code.