Insurance Regulation 208

07 Jul 2018 8:56 AM | Edie Tella (Administrator)

A Manhattan judge has annulled Insurance Regulation 208. As you may recall, this regulation made it illegal for a title company to make inducements for future business (i.e. meals, entertainment, outings, reducing or eliminating title charges), set limits on certain charges and made it illegal to pay a title closer pick-up fee or gratuity except in limited circumstances. Although only binding in NY county, this decision comes a welcome relief to title and abstract companies in NY.  See a copy of the decision here.

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