California to cap title insurance inducements at $25 a year

Poizner takes a page from Washington state's book

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

California regulators plan to collect more detailed information on title insurers’ affiliated businesses, and will prohibit title insurance marketers from spending more than $25 per year on gifts or other inducements for real estate professionals who are in a position to refer business to them.

Insurance Commissioner Steve Poizner announced the planned regulatory reforms Monday in San Diego, where he addressed members of the California Land Title Association (CLTA) at their 101st annual convention.