DFS Wins New York State Appeal Reinstating Portions of Regulation Aimed at Controlling Title Insurance “Marketing” Expenses

February 27, 2019
Steven Ostrow, Steven Coury & Patrick Haggerty - White and Williams LLP

On January 15, 2019, a New York appellate court reinstated portions of Insurance Regulation 208, which was promulgated by the Department of Financial Services (DFS) in December 2017. The regulation prohibited title insurers from “wining and dining” attorneys and other agents in the real estate market in exchange for business referrals, while passing those costs through to the consumers. The appellate court decision overturned a 2018 New York lower court ruling that annulled Insurance Regulation 208 in its entirety on the grounds that its provisions were arbitrary and capricious and that the regulation exceeded DFS’ regulatory authority in violation of separation of powers.

Reprinted courtesy of White and Williams LLP attorneys Steven Ostrow, Steven Coury and Patrick Haggerty
Mr. Ostrow may be contacted at ostrows@whiteandwilliams.com
Mr. Coury may be contacted at courys@whiteandwilliams.com
Mr. Haggerty may be contacted at haggertyp@whiteandwilliams.com



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