Stewart Reaches Settlement with California Commissioner of Insurance in Richmond Title Proceeding
July 19, 2007
HOUSTON -- Stewart Title Guaranty Co. (Stewart) joined Commissioner Steve Poizner to announce a settlement in the amount of $1.5 million over charges that two of its agents conducted their business illegally in the State of California. Stewart has advised those agents not to prepare title searches, title examinations, title reports and/or certificates of abstract of title where a Stewart title insurance policy is being issued on property located in California.
By entering into the Stipulation and Waiver, Stewart did not admit any wrongdoing, and Stewart entered into the stipulation as a compromise to avoid the cost of further litigation.
Source: Stewart Title Guaranty Co.