State probes insurers as a “bribe to real property, brokers, owners
Minnesota study the regulatory authorities of the title insurance companies for bribes estate agents, homebuilders and others.
The state action follows a settlement of $ 24 million earlier this week with Colorado insurance regulatory authorities and a title insurer accused of kickbacks to homebuilders, lenders and real estate brokers in some reinsurance agreements.
The regulatory authorities in Alaska, California, Florida and Washington, have launched investigations in connection with the growing national scandal in the title role of insurance for the economy.
The Minnesota Department of Commerce plans to convene 19 tracks insurance companies for more information on reinsurance agreements and possible “illegal or undisclosed payments to insurers a title.
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