I’ve seen it again, and I can’t stand it anymore. The fourth estate has again declared that normal accounting rules don’t apply to title insurance agents. At least once a month I’ll see something similar to this in the press:
“Resnick also charges that, unlike property and casualty insurance companies that pay out an average of 70 percent of what they collect in claims, title insurance companies pay only a maximum of $125 for the title check and an average of $74 in claims, leaving them a profit of more than 90 percent, the lawsuit says.” (emphasis added)
