Bill > A03818

This bill amends the New York Insurance Law to clarify and expand rules regarding marketing activities for title insurance corporations and agents. Specifically, the bill allows title insurance companies to engage in standard marketing practices while prohibiting certain types of inducements or rewards. The legislation explicitly permits activities like advertising at market rates, sponsorships, promotional items, providing meals with business discussions, offering continuing legal education materials, and making charitable contributions. However, the bill strictly forbids providing vacations, trips, travel, gift cards, or other specific monetary gifts to current or potential customers. The bill maintains existing penalties for violations, which can include fines up to five thousand dollars or up to ten times the amount of any improper compensation received. The key goal appears to be preventing inappropriate financial incentives in the title insurance industry while allowing legitimate marketing and professional networking activities. The changes aim to create clearer guidelines for title insurance professionals about acceptable marketing practices, protecting consumers from potentially unethical business conduct.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A3818