I have read the bill also.  My concern is that the abstractors are unregulated and that this bill really puts the burden and consequences on the title agents.  I would rather see the state institute licensing for the abstractors, but maybe that will come eventually.  I think this is a good start though. 

You do have a good point about the foreign abstracting services that are becoming VERY popular.  I don't think this will affect any of that, since a lot of those companies are owned by the underwriters who are outsourcing to India.  The underwriters are obviously covered.

I am with you, though.  I have E&O also and I would never consider working without it. 

Jarrod is working on an article regarding the bill and he conducted a nice interview with Dan Dozer, the executive director of the Ohio Land Title Association.  It should be up sometime today.

Best,
Robert A. Franco
SOURCE OF TITLE