CLTA annual meeting

Rich Macaluso, president of the California Land Title Association, comments on the group's ongoing talks with state regulators on a plan to collect expense data from title insurance companies which would be used to set rates. Macaluso said some smaller companies might go out of business and title insurance costs could go up if the state insists on collecting historical data, rather than information going forward. Sherwood "Woody" P. Girion, deputy commissioner of the California Department of Insurance's Consumer Services and Market Conduct branch, said regulators are considering the industry's alternative statistical plan "very seriously."

"We are not wedded to our plan, we are not totally sold on their plan, hopefully thorugh the process once its fully vetted we'll come up with the correct answer," Girion said.

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