I. Title Insurance
Title insurance insures owners of real property against loss by encumbrance, defective title, or adverse claim. RCW 48.11.100. Consumers typically select title insurance in connection with a “middlem[a]n,” (i.e., their real estate agent, builder, banker, etc.) who may exert great influence on the consumer’s decision. Administrative Record (AR) at 470, 472. In 1988, Washington State’s OIC adopted a rule to protect consumers by limiting the gifts or inducements that a title insurance company or its agent could offer to a middleman in return for steering customers into buying title insurance from specific companies. Former WAC 284-30-800.
Chicago Title provides title insurance nationally. In eight Washington counties, Chicago Title maintains direct operations, meaning that it researches title, proposes the policy, underwrites the policy, offers escrow and closing services, and markets all these services to customers. In smaller counties, Chicago Title maintains no direct operations and instead only underwrites the policies generated by independent title insurance companies, also known as underwritten title companies (UTC).
Judge(s): Jill Johanson
Jurisdiction: Washington Court of Appeals
Related Categories: Administrative Law , Business Organizations , Contracts
|Court of Appeals Judge(s)|
|Marywave Van Deren|