California Department of Insurance Issues Revised Proposed Regulations
|November 28, 2006|
Title Insurance Statistical Plan and Related Rules Governing Rates And Charges|
The California Department of Insurance has issued revised proposed regulations for comments which seek to regulate the rates charged by underwritten title companies and title insurance companies and is seeking formal written comments by December 12, 2006. The CLTA and member companies now have 15 days to provide written comments to the Department.
After this comment period, the Department will most likely file the regulations with the Office of Administrative Law.
In addition, the CLTA is requesting the Department to hold another public hearing to discuss these revised regulations pursuant to Sections 11346.5(a)(16) and 11346.8(a) of the Government Code. We anticipate this will be ignored.