The NAIC model acts: a good beginning

Article Abstract:

The National Association of Insurance Commissioners has approved a title agent model act, which increases regulation of the industry and assists in maintaining the solvency of title insurers. The American Land Title Association (ALTA) representatives have participated in the process, and advocated ALTA's position. Issues included licensing, disclosure of insurer relationship, errors and omissions, referral fess, controlled business, remittance of funds to title insurer, fiduciary holding of funds, financial statement requirement, and CPA audit.

Standards, United States, Laws, regulations and rules

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NAIC: sharpening the focus on the title industry

Article Abstract:

The National Assn of Insurance Commissioners (NAIC) started reviewing title insurance industry regulation in 1991 in the face of public concern about the industry's long-term solvency. The NAIC's Executive Committee appointed a Title Insurance Working Group for that purpose with Market Issues and Solvency Subgroups. The industry is working with the NAIC to improve regulation and devise solvency regulations that will meet the needs of regulators without imposing burdensome record-keeping requirements on insurers.

Management, Title companies

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Some economic good news on the horizon for title insurers

Article Abstract:

The American Land Title Assn forecasts that the market should improve for the title insurance industry in 1992. The improving residential real estate market, helped by lower mortgage interest rates, cost controls and upgraded efficiency in the title insurance industry, indicates that the title industry should be able to cut operating losses and show improved profits.

Forecasts and trends, Insurance industry

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