After letting title insurers who were allegedly using illegal incentives and inducements to win business off with a warning last year, Washington state regulators have fined two companies accused of continuing the practice $35,000. Most of the fines levied against Ticor Title Insurance Co. and First American Title by Insurance Commissioner Mike Kreidler were suspended on condition that there are no further violations of a state law that limits the use of rebates and incentives to $25 per person per year. Ticor was fined $25,000 after regulators allegedly found the company spent more than $400 on holiday gifts, dinners and floral arrangements in December and January. But the company will pay only $5,000 unless future violations are found, with the remainder of the fines suspended. The indu...
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