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