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New York re-introduces title agent licensing bill
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Legislative Developments
Tuesday, September 17, 2013
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A bill that would require the state’s insurance regulator, the Department of Financial Services (DFS), to regulate title insurance agents for the first time, was introduced in the New York General Assembly.
The bill, SB 5923, was introduced on Aug. 7 by Sen. James Seward, R-Oneonta. Robert Treuber, executive vice president of the New York State Land Title Association (NYSLTA) explained how the NYSLTA played a large part in the crafting of the bill, working with agents, underwriters and other stakeholders to draft a bill focused on licensing, building it from their experience and previous bills that the association and the department of insurance had crafted over the years. He said this issue is very important for the industry and for consumers.
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