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Showing posts from January 13, 2008

“Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense”

Pulitzer Prize-winning journalist David Cay Johnston joins us to talk about his new book, “Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (And Stick You with the Bill).” Johnston reveals how government subsidies and new regulations have quietly funneled money from the poor and the middle class to the rich and politically connected.

Guest: David Cay Johnston, Pulitzer Prize-winning investigative journalist for the New York Times. His latest book is titled Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (And Stick You with the Bill). He is also author of the bestselling book Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich—and Cheat Everybody Else.JUAN GONZALEZ: As voters head to the polls in Nevada and South Carolina Saturday, the economy remains one of the top issues for voters across party lines. Today, we’re going to spend the rest of the hour examining the growing income gap in the …

Commonwealth Land Title Insurance Co., Lawyers Title Insurance Corp. and Transnation Title Insurance Co.

Insurance department settles with title underwriters for $3.5M
by Kelly Johnson, www.bizjournals.com
The California Department of Insurance reached a $3.5 million settlement with three title underwriters within LandAmerica Financial Corporation Group Inc. over unfair rating practices.

From the settlement with the Virginia corporation, $2 million will be refunded to consumers, department officials said in a Wednesday news release.

Commonwealth Land Title Insurance Co., Lawyers Title Insurance Corp. and Transnation Title Insurance Co., principal title underwriters of parent company LandAmerica Financial, were accused of failing to comply with agreed-to rates, incorrectly rating policies and failing to apply discounts, which resulted in consumers being overcharged. The insurance department made these accusations after examining the companies between Jan. 1 and March 31, 2005.

In the settlement, LandAmerica agreed to stop its unfair practices in rating and underwriting and to follow its own r…

First American Title Insurance Company

FERNLEY--First American Title Insurance Company is seeking "new, young, old and in-between Fernley and Wadsworth artists," to display their work in the upcoming year.Since the title company moved an office to the Fernley area, each month an artist has been displayed in the business, through the company's Fernley Artist on Display series.Artwork ranged from watercolor, oil to photography and computer works of art."It has been our privilege and pleasure, here at First American Title, to sponsor these wonderful artists and hope that more will come forward and share their artwork with us and the community," said Sher LaGault, branch manger and local artist.Not only did local artists receive publicity but also a reception for the artists was held at the of the show period.This upcoming year, the company is seeking artists that would like to participate and display their work.First American Title can only accept work that can be hung on the walls; in frames when appr…

Attorney general wants to cut title insurance rates

SANTA FE — Attorney General Gary King has asked the state insurance superintendent to reduce title insurance rates by more than 11 percent, saying insurance companies have no incentive to compete on prices charged to customers.According to 2007 information from BankRate.com, New Mexico has the 15th most expensive title insurance rates. The average New Mexico policy costs $755.27; the national average is $707.30.

Title Insurance Is A Cover That Protects A Potential Owner Of A Property Against Loss From Defects In Title

Property title insurance in the offing
Bajaj Allianz, ICICI Lombard in talks with American company to launch the product.

Property transactions in India will soon have an insurance cover to fall back in case something goes wrong in the deal. The country?s two large private sector insurers, ICICI Lombard General Insurance and Bajaj Allianz General, are planning to launch title insurance covers this year.

Title insurance is a cover that protects a potential owner of a property against loss from defects in title. The policy is a retrospective one, where the insured is protected against losses arising from the events that occurred prior to the date of issuing the policy. Globally, the policy is bought by investors, occupiers and financiers.

At present, none of the property transactions, be it large acquisitions or a simple sale of a land or a flat, is covered through an insurance policy by an Indian insurer.

The reason is that Indian insurance companies do not have the underwriting expertise t…