Advisories

New Regulations Governing Title Insurers Take Effect, But Are Being Challenged

The New York State Department of Financial Services has issued new regulations governing title insurers. The regulations, which took effect on February 1, 2018, limit marketing expenses (such as meals and entertainment) that title insurers may incur and prohibit insurers from providing certain types of incentives to attorneys and real estate brokers.  A bill cancelling the new regulations has passed the State Senate, but has not yet been considered by the Assembly, and a litigation challenging the validity of the regulations is pending in State Supreme Court.

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