2011 Annual Review Of Title Ins Agent Escrow Accounts

Monday, 26 September 2011 15:29

The Ohio Department of Insurance has released the following information regarding a new form for the 2011 Annual Review of Title Insurance Agent Escrow Accounts.

According to Ohio Revised Code 3953.33, every title insurance agent and agency that handles escrow, settlement, closing or security deposit accounts must have an independent annual review made of its accounts each year, unless the individual or entity qualifies for an exemption. Ohio Administrative Code 3901-7-01 goes on to outline specific information which must be filed with the Department by all licensed title agents and agencies on an annual basis.

In order to streamline the annual title review filing process, the Department of Insurance created the 2011 Annual Title Agent / Agency Review Form (INS3283). This form replaces the forms previously known as Appendix/Form A, Appendix Form B and Appendix/Form C, and can be downloaded from the Department’s website below:

http://www.insurance.ohio.gov/forms/documents/INS3283.pdf

*The INS3283 form must be submitted by all title agents and agencies, even if a title agent or agency qualifies for an exemption. Further, if an individual holds both an individual and business entity license, two (2) separate filings are required.

When completing the INS3283 form, it will be necessary for sections 1, 2, 3 & 4 to be completed in their entirety. Section 4, entitled “Determination Of Filing Status,” will assist agents and agencies in determining if they qualify for an exemption to the independent annual review requirement. Section 5 is to be completed by all agents and agencies who have independent annual review findings or by those who need to provide additional information regarding their filing.

2011 annual review filings should either be e-mailed to This e-mail address is being protected from spambots. You need JavaScript enabled to view it ,or mailed to the address noted below, by January 15, 2012:

The Ohio Department of Insurance

Attn: Enforcement Division - Annual Title Insurance Filing

50 West Town Street - Suite 300

Columbus, OH 43215-4186

Filings can also be dropped off to the Department, in person, Monday through Friday, between the hours of 8:00 AM and 5:00 PM. All filings mailed or dropped off to the Department should be unbound, unstapled, and unfastened, and printed on single sheets of 8 ½ x 11 paper. As the annual filing requirement is mandated by law, it will be necessary for the Department to pursue administrative action against agents and agency’s who fail to file the INS3283 as required.

For more information regarding annual reviews of title agent escrow accounts, please visit http://insurance.ohio.gov/Agent/Pages/TitleAgentRuleAmended.aspx

Specific questions regarding the 2011 Annual Title Filing process may be directed to the Department’s Enforcement Division at (614) 644-2560 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .