Title Insurance; Public Hearing [39 Pa.B. 2067]
[Saturday, April 18, 2009]The Insurance Department (Department) will hold a public informational hearing on title insurance issues on Thursday, May 28, 2009, at 10 a.m. in Hearing Room 4 at the Commonwealth Keystone Building, 400 North Street, Harrisburg, PA 17120. The hearing will consider the full scope of issues currently under consideration within the Department, including the public policy issues raised by the current rating system and market practices such as how rates are implemented by companies and agents, compensation to title agents, the use of affiliated business arrangements and the payment of compensation or profit-sharing based on the referral of business. Additional focus will be given to recent comments by the Office of Attorney General and broader reform proposals suggesting that economic trends, changes in the financial services industry and technological changes create opportunities for new efficiencies in the title business. A list of topics on which the Department requests information and testimony is available from the Department's web site at www.ins.state.pa.us. To access it, click on ''Topical Information'' at the right side of the screen, then click on ''Title Insurance Hearing.'' The list is not intended to be exclusive.
There are competing views on all of these topics, and the Department wants to emphasize that the purpose of this hearing is to take account of the full range of viewpoints before determining whether to take any specific actions. Individuals wishing to testify may contact the Department's Office of Insurance Consumer Liaison and Market Analysis at the address and telephone number below to schedule to testify at this hearing. Individuals may also appear at the hearing without advance notice and will be afforded the opportunity to testify after all individuals scheduled in advance have testified. Testimony will be limited to a 10-minute presentation. The Department requests that individuals provide a written copy of their testimony the day of the hearing, with no limit on the length of written submissions.
Interested parties are also invited to submit written comments, information or suggestions about these topics to Title Insurance Hearing, Insurance Department, Office of Insurance Consumer Liaison and Market Analysis, 1326 Strawberry Square, Harrisburg, PA 17120, (717) 525-5884, ra-in-consumerliaison@state.pa.us. The deadline for written comments will be June 4, 2009.
JOEL SCOTT ARIO,
Insurance Commissioner[Pa.B. Doc. No. 09-718. Filed for public inspection April 17, 2009, 9:00 a.m.]
