Insurance companies might be unlawfully engaged in price fixing and illegal kickbacks to artificially inflate cost of title insurance.

The title insurance industry is a profitable one. In 2003, according to ALTA, the industry paid out about $662 million in claims, about 4.3% percent of the $15.7 billion taken in as premiums. A substantial portion of these premiums are wrongfully charged to home purchasers. Title insurance fraud lawsuits have been filed in New York state and in California, alleging that title insurers engaged in price fixing and kickback schemes in an attempt to enrich themselves. Title insurance fraud always results in consumers paying inflated prices, and the New York title insurance fraud lawsuit alleges that such practices have resulted in residents paying some of the highest title insurance premiums in the country. Because most consumers don't understand what they are buying, they often depend on their real estate agents or mortgage brokers to recommend the title insurance company that best suits their needs. If you have purchased title insurance any time from February 2004 to the present, you are urged to contact our law firm now to protect your legal rights.