California delays title insurance rate cap until 2011
Industry given 'window' to implement own reforms
By Matt Carter, Thursday, May 31, 2007.California's insurance commissioner has decided to delay until 2011 a plan to cap title insurance rates and escrow fees but says he expects the industry to introduce a comprehensive package of reforms that includes rate cuts long before then.
Insurance Commissioner Steve Poizner, while critical of what he sees as a lack of competition in the title insurance industry, has also said a rate cap proposed by his predecessor is not his "first instinct" for remedying the problem.
On Thursday, Poizner
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