This paper investigates the practice of rebating in title insurance industry. Since approximately 1997, insurance regulators allege that title insurers began engaging in the illegal practice of rebating by forming captive reinsurance companies that in turn draw rebates from the title insurance companies. These sophisticated schemes are designed so that...
A "monoline" requirement, i.e., the statutory restriction of companies writing a particular line of insurance to writing only that line, occurs today in just three property-casualty lines: title insurance, mortgage guaranty insurance, and financial guaranty insurance. In light of the trend toward the elimination of specialization for all types of...
This paper provides an economic analysis of the monoline restriction for both mortgage and title insurance. The purpose is to evaluate whether or not the monoline requirement continues to represent good public policy. California is used as an important and typical case study. This paper reviews these two industries and...
The key goal of this paper is to investigate the conditions under which monoline restrictions represent sensible regulatory policy. This is an intriguing question because multiline insurance structures have the obvious diversification benefit that the firm's capital is available to support claims against any of its lines. Indeed, all states...
This paper discusses about title insurance which was developed in the post-Civil War era in the United States of America, supplementing existing lawyer's and conveyance's 'error' insurance by providing insurance against any defect in titles to real estate, in the absence of reliable title registration systems. The state-run registers were...
The purpose of this paper is to offer a glimpse into the potential industrial organization of the property casualty insurance (P&C) market if banks continue to penetrate it at current rates. To do so, the paper studies an insurance market where banks are already integral in distribution: Title insurance. They...
The report views the capital and surplus of the title insurers in its rating universe as strong from both an absolute dollar and risk-adjusted perspective. Further, reserves continue to appear adequate as measured on both a GAAP and statutory basis. The report analyzes the title industry from a macro perspective,...
The board of directors of Univest Corporation(NASDAQ: UVSP) has named K. Leon Moyer chief executive officer of UnivestNational Bank and Trust Co. and vice chairman of Univest Corporation. Moyerpreviously had been president, a title he will retain, and chief operatingofficer of Univest National Bank and Trust Co. and senior executive...
Federal prosecutors filed a civil complaint against former McAlester state Sen. Gene Stipe Monday, alleging that Stipe engaged in the insurance business after being convicted of a felony involving dishonesty or breach of trust. U.S. Attorney Sheldon Sperling said that from February 2004 through most of October...
No Relationship Exists Between The Companies PASADENA, Calif. -- On Friday, August 1, 2008, IndyMac Bancorp, the former holding company of IndyMac Bank filed for bankruptcy protection under the U.S. Bankruptcy Code (Title 11, Chapter 7 U.S.C). This action has no effect on the operations of IndyMac Federal...
- Results Reflect Meaningful Improvements in Operating Efficiency - SANTA ANA, Calif., July 31 /PRNewswire-FirstCall/ -- The First American Corporation , America's largest provider of business information, today announced preliminary financial results for the quarter ended June 30, 2008. Current Quarter Highlights -- Title...
[ILLUSTRATION OMITTED] Peter Schillinger has over 24 years experience as a New York real estate litigator. He represents partnerships, corporations, limited liability companies, and individual owners of New York real estate as well as several national title insurance companies. Peter has been on the cutting edge of real...
Orezone Resources Inc. (TSX: OZN)(AMEX: OZN) is pleased to announce that Bayerische Hypo- und Vereinsbank AG, a member of UniCredit Group, ("HVB") and The Standard Bank of South Africa Ltd ("Standard Bank") have completed their technical due diligence and are proceeding to their respective credit committees for approval...
Baffinland Iron Mines Corporation (TSX: BIM) ("Baffinland") announced today revised targets for the shipment of high grade iron ore under its Bulk Sample Program from its Mary River deposits on Baffin Island to key European blast furnace operators in 2008. Baffinland anticipates the shipment of between 120,000 tonnes...
U.S. Court of Appeals for the Second Circuit Job Descrimination Collective Bargaining Richardson v. Commission on Human Rights & Opportunities 06-0474-cv ...
DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/research/c65118/biogen_idec_inc) has announced the addition of the "Biogen Idec Inc.: PharmaVitae Profile" company profile to their offering. This analysis examines the historical and forecast performance for Biogen Idec in the ethical pharmaceutical sector. The profile encompasses global company strategy,...
CHICAGO, July 8 /PRNewswire/ -- "The general sense is that the world economy is already in the process of slowing, even among the emerging markets of Asia. The only exceptions are parts of the Middle East, which continue to benefit from skyrocketing energy prices," says Diane...
JACKSONVILLE, Fla., July 8 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. , a leading provider of title insurance, specialty insurance, claims management services and information services, will release 2nd quarter 2008 earnings after the close of regular market trading on Wednesday, July 23, 2008. A conference...
Centex to offer suite of energy efficiency features as standard DALLAS, July 8 /PRNewswire-FirstCall/ -- Centex Corporation today announced the Centex Energy Advantage, a suite of energy-efficient features standard in all Centex homes built nationwide by January 2009. The initiative is expected to...
TACOMA, Wash. -- Russell Investments has been hired by the Rhode Island State Investment Commission to be the $8.4 billion pension fund's new Aggregate Exposure Manager, responsible for improving the implementation of the plan's investments. Russell's appointment was one of three new relationships approved simultaneously...
Articles 2008-07-08
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