Industry News

Web site claims to provide more choices for title insurance

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A newly launched Web site claims it will save consumers money by increasing competition in the title insurance industry. But one industry expert says Get Title Insurance's offers of cash "rewards" undermine such promises and may violate federal law. Get Title Insurance, which launched July 31, helps consumers by providing them with multiple quotes from insurance providers, said Chief Executive Officer Larry Calinda, a former executive at United Title and Fidelity National Title. Some competing title insurance Web sites operate on a lead-generation model, selling information consumers enter about themselves online., for example, sells leads to up to five title insurance providers. Calinda said Get Title Insurance is different because it doesn't place limits on the number of companies that are allowed to provide quotes to consumers. When a consumer submits a request for a quote, the information is distributed to all the title insurance companies that have signed up ...