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The Arizona Department of Insurance (ADOI) reached a Regulatory Settlement Agreement with LandAmerica Financial Group, Inc. (LandAmerica) to resolve ADOI’s investigation into LandAmerica’s three title companies in Arizona, Commonwealth Land Title Insurance Company, Lawyers Title Insurance Company and Transnation Title Insurance Company, regarding their use of Captive Reinsurance Arrangements from 1997 to February, 2005, when the LandAmerica companies voluntarily terminated these Captive Reinsurance Arrangements nationwide.
As a result of a multi-state settlement with the Fidelity National Title Insurance Group, 3,946 title insurance policyholders in Arizona will receive refunds totaling $644,152 from Fidelity title insurers active in Arizona: Fidelity National Title Insurance Company, Chicago Title Insurance Company, Ticor Title Insurance Company, and Security Union Title Insurance Company.
Media Contact: Erin Klug Public Information Officer (602) 912-8456
For Immediate Release February 23, 2005