LandAmerica Financial Corp.

The Department of Insurance accused LandAmerica of setting up a captive reinsurance company to funnel illegal rebates to banks, builders and real estate agents to direct business back to the title companies. The lawsuit claimed LandAmerica was engaged in illegal title insurance rebating. LandAmerica has agreed to pay a $4.5 million settlement; $2.6 million will be refunded to customers and $1.9 million will be paid in penalties and legal costs. (Feb-28-06) [SACRAMENTO BUSINESS JOURNAL]

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