In its upcoming issue, Forbes publishes an exposé on the title insurance industry's outlandish margins that seem so obvious to anyone associated with real estate. It's an "On The Cover" story and the first impact article I've seen about the industry from a major business magazine.
I've been making waves about the title insurance industry for the past couple of years so I don't need to comment on the article, it's an aggregation of these various well known facts and news items - the industry has unbelievable 5% payout ratios, kickbacks/gifting do happen, record profitability is almost analogous to the oil companies' last quarter earnings.
Instead, I'll propose what title insurance companies should do next in this open letter to them (pardon the length of the article, you may want to print it out):
Dear Title Insurance Companies:
In California, you've been under pressure from…