Title insurance firms reach settlements

Title insurance firms reach settlements: "ORLANDO, Fla. -- Dec. 12, 2005 -- Lawyers Title Insurance Corp., American Pioneer Title Insurance Corp. (now known as Ticor Title Insurance Company of Florida) and Fidelity National Title Insurance Corp. are the latest title insurance companies to settle class action lawsuits with borrowers who allege they were overcharged for title insurance when they refinanced their homes.

Florida law requires title insurers to charge a discounted premium, known as the reissue rate, when a property is refinanced. In settling the lawsuits, the three insurers agreed to pay settlements ranging from $824,536 to $1.4 million, and agreed to institute wide-ranging changes to their business practices."