Must title insurers provide the Director of the Department of Insurance with a copy of the annual review report of each agent?

Title insurers are mandated by law to provide the Director of the Department of Insurance with a copy of the annual review report for each agent. This requirement is in place to ensure regulatory oversight and maintain standards within the insurance industry. By submitting these reports, title insurers demonstrate compliance with legal obligations, allowing the Department of Insurance to monitor agents' performance and practices effectively.

This process helps keep the operations of title insurance in check, ensuring that agents adhere to regulations and fulfill their roles responsibly. The oversight provided by annual reviews aids in protecting consumers by ensuring that agents operate within the established guidelines and maintain a level of trustworthiness in their dealings.