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Conestoga Title Insurance Company may have improperly overcharged consumers for title insurance when those home owners were refinancing their homes
Investigation Source
- Pennsylvania
Investigation Scope
Category Information
Investigation Topics
- Unfair and Deceptive Services
- Over Charge
- Excessive or Unauthorized Fees
Product or Service
- Title Insurance
Injury Type
- Monetary Loss
Investigation Details
This is a class action lawsuit against Conestoga Title Insurance Company on behalf of all Pennsylvania consumers who were overcharged by Conestoga Title Insurance Company.
Title insurance in Pennsylvania is pervasively regulated by the Title Insurance Act. The only allowed rates for title insurance are approved by and filed with the Commonwealth's Insurance Commissioner. The approved rates are published in the Manual of the Title Insurance Rating Bureau of Pennsylvania (TIRBOP Manual). If a property owner applies for title insurance within ten years of obtaining a policy issued on the same property, the reissue rate includes a ten percent discount. TIRBOP Manual 5.3, 5.50. If the application is within three years of a previous policy, the refinance rate is eighty percent of the reissue rate.
This class action lawsuit alleges that Conestoga Title Insurance Company among other wrongs failed to give Pennsylvania residents the 20% discount for title insurance when refinancing.
Title insurance in Pennsylvania is pervasively regulated by the Title Insurance Act. The only allowed rates for title insurance are approved by and filed with the Commonwealth's Insurance Commissioner. The approved rates are published in the Manual of the Title Insurance Rating Bureau of Pennsylvania (TIRBOP Manual). If a property owner applies for title insurance within ten years of obtaining a policy issued on the same property, the reissue rate includes a ten percent discount. TIRBOP Manual 5.3, 5.50. If the application is within three years of a previous policy, the refinance rate is eighty percent of the reissue rate.
This class action lawsuit alleges that Conestoga Title Insurance Company among other wrongs failed to give Pennsylvania residents the 20% discount for title insurance when refinancing.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Conestoga Title Insurance Company | Conestoga Title Insurance Company is a title insurance company. |