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Title Insurance Agents Reminded Rebates and Inducements are Illegal

​As part of the Ohio Department of Insurance’s regulatory oversight responsibilities, title insurance agents are reminded that they are subject to Ohio laws effecting all insurance agents and brokers including laws prohibiting agents from giving valuable consideration for the inducement of business.

Specifically, Ohio Revised Code sections 3933.01 and 3953.26 prohibit rebates, special advantages and payments for inducements of business with further guidance available in Ohio Department of Insurance bulletins 95-3 and 2009-13.

Specific information on the topic:
Title insurance companies and agents are required to comply with all applicable laws and allegations of wrongdoing will be investigated by the Ohio Department of Insurance.
 
To report potential violations, contact the department’s Enforcement Division at 1-800-686-1527 or ODI.Enforcement@insurance.ohio.gov. Complaints can also be made electronically by clicking here.

The State of Ohio is an Equal Opportunity Employer

Ohio Department of Insurance
50 W. Town Street, Third Floor - Suite 300
Columbus, Ohio  43215
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John Kasich, Governor | Jillian Froment, Director
General Info: 614-644-2658 | Consumer Hotline: 800-686-1526
Fraud Hotline: 800-686-1527 | OSHIIP Hotline: 800-686-1578