Cracking Down on Illegal Practices in the Title Insurance Industry

Topics:
Insurance
Tags:
Business Operations,
Corporate Insurance,
Finance,
Financial Planning,
Insurance,
Insurance Company,
Practice,
Real Estate,
Title Insurance
Source:
Beecher Carlson Holdings

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Overview: This paper investigates the practice of rebating in title insurance industry. Since approximately 1997, insurance regulators allege that title insurers began engaging in the illegal practice of rebating by forming captive reinsurance companies that in turn draw rebates from the title insurance companies. These sophisticated schemes are designed so that insurance companies split premiums with home builders, real-estate brokers and others who then steer business in their direction. The practice of rebating has been referred to as a form of "commercial bribery" and is illegal under federal law.

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Format: PDF | Size: 82KB | Date: Jun 2005 | Pages: 6

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