fromwww.housingwire.com
4 days agoVirginia insurance commissioner issues warning regarding AOLs
Consumers should be aware AOLs are being offered as substitutes for title insurance but they do not, and legally cannot, offer the same protection as title insurance, the letter states. The gap in coverage may leave consumers without protection that they believe they purchased. White states that as long as the AOL does not offer consumers coverage that meets the definition of insurance as outline in the Code of Virginia, it is not subject to his Bureau's regulation.
Law