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CA Department of Insurance
CA Department of Insurance
CA Department of Insurance

Investigation reveals alleged unlawful title insurance transactions by corporation headquartered in Southern California

News: 2013 Press Release

For Release: May 8, 2013
Media Calls Only: 916-492-3566
Email Inquiries: cdipress@insurance.ca.gov

Investigation reveals alleged unlawful title insurance transactions by corporation headquartered in Southern California
Leads to $65,000 settlement with unlicensed corporation

SACRAMENTO - Insurance Commissioner Dave Jones announced today that the California Department of Insurance reached a settlement agreement with Timios, Inc., a Delaware corporation allegedly doing title and escrow business in California without a license.

Under the enforcement action agreement, Timios, Inc. agreed to pay a $65,000 penalty and another $20,000 to reimburse the department for its investigative and legal costs, and stop the illegal activities.

"Licensing requirements for companies and agents are designed to protect consumers," said Insurance Commissioner Dave Jones. "Timios was conducting title business in California without a license, which disregards the regulatory process and disrupts the competitive market."

In 2010 and 2011, the company allegedly solicited and received title and escrow orders from national lenders and performed escrow services while not licensed to do so in California. Timios, Inc. is headquartered in Westlake Village California.

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Media Note: The Department of Insurance was made aware of the allegations through a complaint received via Consumer Services. Links to enforcement action documents:

Stipulation and Waiver
Order to Show Cause 



Led by Insurance Commissioner Ricardo Lara, the California Department of Insurance is the consumer protection agency for the nation's largest insurance marketplace and safeguards all of the state’s consumers by fairly regulating the insurance industry. Under the Commissioner’s direction, the Department uses its authority to protect Californians from insurance rates that are excessive, inadequate, or unfairly discriminatory, oversee insurer solvency to pay claims, set standards for agents and broker licensing, perform market conduct reviews of insurance companies, resolve consumer complaints, and investigate and prosecute insurance fraud. Consumers are urged to call 1-800-927-4357 with any questions or contact us at www.insurance.ca.gov via webform or online chat. Non-media inquiries should be directed to the Consumer Hotline at 800-927-4357. Teletypewriter (TTY), please dial 800-482-4833.

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