Title Insurance

Specifically, after a real estate sales contract has been executed and escrow opened, a title skilled will search the general public data to search for any issues with the home’s title. This search typically includes a evaluation of land records going again a few years. More than one-third of all title searches reveal a title drawback that title professionals will insist on fixing before the transaction closes. For occasion, a previous owner could have had minor construction done on the property, but by no means fully paid the contractor (leading to a mechanic’s lien), or the earlier owner may have failed to pay native or state taxes . Title professionals search to resolve issues like these earlier than the transaction closes, since in any other case, their employer, the title insurer, might be required to repair such title defects by paying such unpaid fees or taxes. A recording system combined with title insurance decentralizes records, creating redundancy.

The Provident companies was founded in Chattanooga, Tennessee in May 1887 as Mutual Medical Aid and Accident Insurance Company. The company originally specialised in providing both medical-assist and accident insurance to workers in excessive-danger industries, together with miners and coal staff. Within a few months, the company’s founders became concerned that a single illness epidemic would bankrupt the company. Mutual Medical Aid and Accident purchased again all outstanding medical-assist policies and reincorporated as Provident Accident Insurance Company.

Old Republic manages its business via greater than 139 corporate entities, of which 27 are insurance subsidiaries masking all 50 states, 3 US territories, and all 10 Canadian providences. Old Republic companies market, underwrite, and provide danger administration providers for a mess of coverages, predominantly within the general and title insurance arenas. A small life and medical health insurance enterprise is also carried out within the U.S. and Canada, principally as an adjunct to the Company’s common insurance operations. The breadth of coverages ensures wide diversification and dispersion of risks.

Obviously, there could be no dispute if the plaintiffs’ declare against Island Creek was tried to a verdict or settled for a lump sum amount. As it happened, the plaintiffs entered into a structured settlement with Island Creek. The Old Republic settlement agreement was silent as to the effect of a structured settlement with Island Creek, and the parties acknowledged at oral argument of these appeals that the potential of a structured settlement with Island Creek was not thought-about.

old republic title insurance company

A16A0258, we affirm the trial courtroom’s grant of abstract judgment in favor of Old Republic as to RM Kids’s unhealthy-religion declare and its grant of a directed verdict in favor of Old Republic as to RM Kids’s prejudgment interest claim. Here, genuine points of fabric truth exist as as to whether Peachtree Bank was conscious of Exhibit C previous to closing and, thus, whether RM Kids’s declare was excluded under the insurance coverage as an “assumed” title defect. And certainly, as we held in Division 1, Old Republic’s competition in this regard was perfectly cheap. Given these specific circumstances, Old Republic had an affordable basis to refuse RM Kids’s demand.45 And consequently, the trial court did not err in granting Old Republic’s motion for abstract judgment on this problem. Prior to trial, Old Republic filed a movement for abstract judgment, arguing, inter alia, that RM Kids’s dangerous-religion claim failed as a matter of law because it had affordable grounds for denying RM Kids’s declare under the coverage.

Old Republic Insurance Company carried legal responsibility insurance for Adkins Coal Company and workers’ compensation insurance for Incoal, Inc. UnumProvident acquired Sun Life Financial’s United Kingdom-primarily based group insurance business in 2003. Thomas Watjen replaced Orr as UnumProvident’s chief executive later that yr. The company additionally offered its Japanese and Argentine businesses. Company Chief Operating Officer J. Harold Chandler, who had served as Provident’s chief government previous to the merger, succeeded Orr as UnumProvident CEO in November 1999. The company offered Provident National Assurance, a holding company for its life insurance and variable annuity enterprise, to Allstate in 2001.

Satisfaction And Selection Types

FSRs are a number one indicator of monetary stability, providing an objective baseline of the longer term solvency of an insurer. Demotech’s philosophy is to evaluation and evaluate insurers based mostly on their area of focus and execution of their business model somewhat than solely on financial size. Demotech was the primary to evaluation and rate independent regional and specialty insurers.

Finally, the plaintiffs assert that their settlements did not totally compensate them for their losses, and that “double restoration” would not result if subrogation had been denied. Other than the circuit court approval of the settlements, there isn’t any adjudication of the worth of the plaintiffs’ damages. Future compensation advantages have been estimated at $450,000, and the plaintiffs obtained over two million dollars on the time of the settlements. The plaintiffs are further guaranteed payments of $1,680,000.

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We notice, however, that the courtroom did not suggest that an employer’s negligence does not foreclose its right to subrogation. The prevailing law is that a structured settlement must be valued at its current money value. The circuit courtroom didn’t err by determining the quantity of the plaintiffs’ settlement with Island Creek was less than $2,000,000, and that Old Republic waived its rights to subrogation for past benefits.

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  • This disclosure informs homebuyers they are not required to make use of the affiliate and are free to buy other providers.
  • If such a transaction goes unrecorded for any purpose or size of time, an unscrupulous grantor may sell the property to another grantee.
  • While each Old Republic General Insurance Group company is a specialist, collectively our expertise is broad and encompassing throughout the Property & Casualty marketplace.
  • Accordingly, we reverse the trial court docket’s ruling on this regard, and remand the case for retrial.

This means nearly all of the premium dollar, about eighty percent, covers the work performed by title professionals, such as the search examination, healing work, policy issuance and, frequently, the settlement or closing. The remaining 20 percent covers the insurance policy, a significant portion of which is put into reserves for claims that could happen 10 or 20 years in the future. According to a 2006 survey by ALTA, title issues that required healing action have been found in 36 % of all residential real estate transactions in 2005. This was up from 25 % in 2000, as a result of booming real estate market and an increase in transactions. The first title insurance company, the Law Property Assurance and Trust Society, was fashioned in Pennsylvania in 1853. Typically the actual property pursuits insured are payment easy ownership or a mortgage.

In the choice, it could except from the coverage’s coverage those items not eliminated. Title vegetation are generally maintained to index the general public records geographically, with the objective of increasing searching effectivity and decreasing claims. In some states title vegetation are required to index the real-property records geographically and likewise keep a reputation file for judgments, probates and other general matters. A16A0257, Old Republic contends that the trial court docket erred in ruling that the date of RM Kids’s loss was the date its predecessor-in-interest closed on the loan for the subject property quite than the date RM Kids foreclosed on the property. Moreover, Old Republic argues that even when the date of the loss was, in reality, the closing date, the trial court, nonetheless, erred in ruling that RM Kids had standing to assert a declare for a loss that its predecessor actually incurred.

Responsible for the examination of title information, issuance of title insurance commitments, and owner and encumbrance reviews. As a matter of coverage, BBB does not endorse any product, service or business. at 446 (holding that whether title policy lined damages of diminished worth attributable to survey defect was jury issue, and, thus, trial court did not err in denying insurer’s motion for directed verdict). 121, (holding that for purposes of title-insurance policy, distinction exists between financial lack of marketability, which pertains to physical situations affecting use of property, and title marketability, which pertains to defects affecting legally recognized rights and incidents of possession). Old Republic first contends that the trial courtroom erred in ruling that the date of RM Kids’s loss was the date that its predecessor-in-curiosity, Peachtree Bank, closed on the subject loan somewhat than the date RM Kids foreclosed on the topic property.

A16A0257, we conclude that the date for the purpose of measuring any loss by RM Kids was the date it foreclosed on the topic property, and we reverse the trial court’s ruling that the date of the loss was the date that Peachtree Bank closed on the subject loan. And as a result of that misguided ruling entirely governed the manner in which the case was tried, we must remand the case for retrial. Based on our ruling, Old Republic’s contention that RM Kids lacked standing is moot, and we’d like not tackle its competition that the evidence was inadequate to help the jury’s verdict that the “environmental stigma” constituted a title defect covered by the insurance coverage. However, we affirm the trial court docket’s admission of RM Kids’s professional’s testimony and its denial of Old Republic’s motion for directed verdict concerning consideration of any diminution of worth to the Wages tract.

If you have not uploaded your notary fee and E&O insurance policy or stuffed out your W-9, you will be prompted to take action earlier than having the ability to fill out the Old Republic Title settlement. Some companies could require additional agreements when you’re excited about working with them. While filling out the Old Republic Title settlement is completely elective, it’s required if you would like to work with the company. BBB Business Profiles typically cover a 3-12 months reporting period. BBB Business Profiles are topic to change at any time.

We hope you discover what you might be in search of, please contact us when you have any questions. You are solely licensed to depart one evaluation per company. This online directory makes it straightforward and convenient to attach with a select group of trusted vendors who stand ready to provide the highest-notch customer service you anticipate and deserve. Take advantage of our Real Estate Calculators designed to make estimating closing costs easier and more efficient. Calculate the Florida home buyer and seller closing costs, including the paid closing costs and real estate fee.

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Title insurance coverage lasts so long as the insured retains an interest within the land insured and sometimes no additional premium is paid after the policy is issued. Co. of Dallas v. Hutsell,12 RM Kids argues that Georgia law has established that a loss under a title-insurance coverage is measured as of the time limit. Accordingly, we reverse the trial court docket’s ruling in this regard, and remand the case for retrial.

In 2012 and 2013, Unum partnered with the Consumer Federation of America to release reviews which examined using disability insurance by American workers. According to numbers released by the Bureau of Labor Statistics that were cited by the report, two-thirds of American workers don’t carry incapacity insurance policies. In addition, the report found that, amongst different things, workers know little about incapacity insurance, regardless of anticipating financial hardship if they have been to become unable to work. In 1892, Thomas Maclellan and John McMaster bought a 50% stake within the company for $a thousand. The two men purchased the remaining 50% equity in 1895 and Maclellan was the company’s sole owner and president by 1900. Maclellan reorganized the corporate from being mutually held to a stock company in 1910.

Our extremely educated claims professionals know tips on how to handle workers’ compensation, commercial vehicle, and commercial basic legal responsibility claims. They average 20 years of expertise and concentrate on all kinds of construction exposures. Because they’re strategically positioned, these folks understand your native jurisdiction.

Assuming a $3.00 per thousand average national rate of insurance premium and over $5.6 trillion in unbiased service provider-related written title insurance liability per annum. In some states, the regulated premium cost does not include a part of the underwriting costs necessary for the method. In those states, title insurers can also charge search or abstracting fees for looking out the general public data, or examination charges to compensate them for the title examination.

In 2010, she was named Senior Litigation Counsel to manage the anti-trust and sophistication-actions that have been plaguing the industry. In that function, she managed 35 national class-actions. In 2014 she relocated to Tampa, Florida to become Old Republic’s Chief Claims Counsel.

Homeowners insurance – who knows the place the value lies in an insurance coverage in terms of something as native-specific as insurance for a construction, constructing, home in a selected location – your native insurance agent – that’s who! Let us showcase our knowledge of the realm in and around Nashville, TN. You might be assured that you simply found the best local partner in your insurance wants. Not for us at Old Republic National Title Insurance Company, nonetheless. While it is a serious business, we don’t see insurance as boring – it is after all the enterprise of maintaining folks of their houses, from going out of business and getting back on the street – basically helping people lead regular lives and recuperate from catastrophe.

The circuit court docket judgment of April 20, 1985 is due to this fact affirmed. While the circuit courtroom didn’t state whether it discovered the contract in query to be ambiguous, the appellate court might affirm the judgment if the report on attraction discloses any ground on which the decision might correctly have been made. It is usually recognized that if a contract is silent on a certain level, the law will indicate an obligation to hold out the aim for which the contract was made. Warfield Natural Gas Co. v. Allen, 248 Ky. 646, fifty nine S.W.2nd 534 . Terms are implied in a contract to offer the contract the impact the parties would have agreed on if they might have considered the possibility of subsequent events.

For pennies a day, Home Title Lock posts a virtual perimeter round your house’s online title and mortgage. As a Home Title Lock member, you may by no means have to worry about home title theft again. Because even in the unlikely occasion you must go to courtroom to fight a fraudulent title change, we will help you each step of the best way. ENTERPRISE ACCESS Your whole office will have the ability to use your search subscription. In addition, all pages on Bizapedia will be served to you utterly ad free and you will be granted access to view every profile in its entirety, even when the company chooses to cover the personal information on their profile from the general public. RECAPTCHA FREE SEARCHING While logged in and authenticated, you’ll not be requested to resolve any difficult Recaptcha V2 challenges.

See, e.g., General Motors Corp. v. Reagle, 714 P.2d 176 (Nev.1986); Franck v. Polaris E-Z Go Div. The current worth strategy is also utilized in figuring out the amount of legal professional’s charges in a contingent payment association when recovery ends in a structured settlement. 112 (D.N.J.1982); Merendino v. FMC Corp., 181 N.J.Super. In 2004, Unum entered into a regulatory settlement settlement with insurance regulators in over forty states.

Generally talking, it follows the assignment of the mortgage loan, meaning that the coverage benefits the purchaser of the mortgage if the mortgage is offered. For this cause, these policies greatly facilitate the sale of mortgages into the secondary market. That market is made up of high volume purchasers such as Fannie Mae and the Federal Home Loan Mortgage Corporation as well as private institutions. Examine the indexes within the recorders’ places of work, pursuant to varied guidelines established by state legislatures and courts. A recording system can provide for conveyance of land for conditions beyond the capability of public information, similar to homesteading and inheritance. Morris’ aunt bought the primary policy, valued at $1,500, to cover a house on North 43rd Street in Philadelphia.

Try one other search question or take our wage survey to get a personalised wage report in your job title. Any dispute, declare or controversy arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation or validity thereof, together with the willpower of the scope or applicability of this settlement to arbitrate, shall be determined by arbitration. This Agreement and the rights of the parties hereunder shall be governed by and construed in accordance with the legal guidelines of the State of Nevada. Old Republic National Title Insurance Company has as much as 999 sq. footage of space with 5 to 9 employees.

Today, title insurance protects against errors in public records, unknown liens or easements, or lacking heirs. Homebuyers should buy title insurance to protect themselves, however largely, they’re buying title insurance to guard their mortgage lender. Most lenders don’t buy their own title insurance; they force debtors to buy it for them. Old Republic National Title Insurance Company is a mortgage signing or title company. To touch upon this company, please visit our discussion board, and use the search operate to locate Old Republic National Title Insurance Company after which add to the existing post somewhat than creating a brand new post.

In many states, the worth of title insurance is regulated by a state insurance commission. In these states, the title insurance companies foyer state legislators and different politicians and donate to their campaigns, in the hopes of sustaining the charges high. Unlike different types of insurance , title insurance just isn’t paid for yearly, because it has one cost for the time period of the policy, which is in effect till the property is resold or refinanced. Title insurance is substantially different from different traces of insurance because it emphasizes threat prevention rather than threat assumption.

old republic title insurance company

Charging a graduated rate like insurance companies do isn’t necessary, nevertheless it offers excess revenue to these companies at instances when home costs are up, like right now. And should you’re in Iowa, there’s no purpose to make use of anything aside from Iowa Title Guaranty due to the unbelievable value it provides. The agency started charging a flat payment of $110 in the mid-2000s as an alternative of the graduated rate title insurance companies use. It additionally offers a free owners policy to guard homebuyers; you’d have to purchase that individually in one other state. For many years, conservative dogma has preached that non-public enterprise is both cheaper and extra efficient than a government entity.

Title insurance for construction loans require a Date Down endorsement that acknowledges that the insured quantity for the property has elevated because of construction funds which were vested into the property. In a recording system, an impartial authority critiques government land transfers. In a registration system authorities can decide registration disputes in its favor, preventing separation of powers and the constitutional right to due process of law. Demotech, Inc. is a monetary analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, dependable, and proven Financial Stability Ratings® for Property & Casualty insurers and Title underwriters.

The kickback to real estate professionals is the way in which they safe sales. If a title insurance company tries to compete by providing a lower price, that’s much less cash they need to chill to real estate professionals and safe sales. Some title insurance startups have found that they actually have to boost their charges to be competitive. Title insurers also don’t market their services to homebuyers, but to real estate professionals—real estate agents, mortgage lenders and brokers, attorneys.

A title is unmarketable if it might be unacceptable to an affordable purchaser exercising reasonable business prudence, who’s knowledgeable of the facts creating or affecting it and their legal which means, as a result of it appears topic to material defect, grave doubt or to the likelihood of litigation. However, the title need not be dangerous in reality to be “unmarketable.” Black’s Law Dictionary 4th Ed. West Publishing Co. 1951) defining “Marketable Title” and “Unmarketable Title.” The OAITA stands in stark distinction to 2 Harris Interactive surveys utilized by the Real Estate Services Providers Council in a January 2011 assembly with Federal Reserve staff to assert that homebuyers had been more happy with the ABA settlement service providers. Further, 58% of respondents stated they believe that ABAs are a battle of interest. A recent survey from the Ohio Association of Independent Title Agents , performed from 2009 via 2010, confirmed when homebuyers are made totally aware of ABAs, they turn into uncomfortable and prefer a title company or title agent to be a 3rd get together (i.e., independent) to the transaction.

“The real act of discovery is not find new lands, however in seeing with new eyes.” This disambiguation page lists articles related to the title Old Republic. This dataset contains 357 thousand attorneys registered with New York State, Office of Court Administration. Each legal professional is registered with registration quantity, full name, company name and tackle, cellphone quantity, email, year admitted, and so forth. By using our web site, and not disabling cookies in your browser, you consent to this. REPUBLIC NATIONAL LIFE INSURANCE COMPANY is a Foreign Profit Corporation from DALLAS in Texas, United States.

Old Republic Insurance Company appeals from a judgment denying its declare for subrogation on workers’ compensation benefits paid previous to a date agreed by the parties to temporarily suspend compensation advantages. The appellants in the second enchantment, widows and administratrices of five coal miners killed in the explosion, appeal from a judgment permanently suspending staff’ compensation advantages. “Disability insurance rivals be a part of forces to capture almost half of nation’s market”. The company has extra workplaces in Portland, Maine; Columbia, South Carolina; Worcester, Massachusetts; Glendale, California; Milton Court, Dorking, Surrey, England; and at Carlow, Co.

And if the accident / insurance event occurs, the insurance company will bear all or all of the costs in full or in part. And these costs may be from $ 100 to several tens or even tons of of hundreds of dollars, depending on the subject of insurance. Do you need insurance before you can execute on a job/contract?

The events conceded they did not ponder a structured settlement with Island Creek, and we’re of the opinion that the circuit court docket was appropriate in considering the present value of the Island Creek settlement. The plaintiffs reached a settlement with Island Creek January 25, 1985. Island Creek agreed to pay $1,000,000 inside twenty-one days of the agreement and to arrange for the purchase of annuities having a assured payout of $1,680,000 over twenty years, and an estimated yield of $2,853,000. After the plaintiffs settled with Island Creek, Old Republic requested reimbursement of the previous staff’ compensation benefits. These appeals are from final judgments within the litigation regarding the December 7, 1981 mine explosion near Topmost in Knott County, Kentucky.

In this regard, the probability of damage is repeatedly increased. To be calm and protected, you should use the old republic title insurance company. old republic title insurance company – this is a vital concern within the life of recent man. Practically each particular person has insurance coverage right now. fifty four, (holding that trial court did not err in granting summary judgment in favor of insurer on unhealthy-faith declare as a result of affordable dispute existed as as to whether coverage lined insured’s declare). In summary, and for the foregoing causes, in Case No.

old republic title insurance company

A mortgage coverage supplies no coverage or profit for the buyer/owner and so the choice to buy an owner policy is independent of the lender’s choice to require a loan coverage. FSRs summarize Demotech’s opinion of the monetary stability of an insurer no matter common economic conditions or the section of the underwriting cycle. FSRs utilize statutory financial knowledge based on insurance accounting ideas prescribed or permitted by the National Association of Insurance Commissioners .

Infofree.com reserves the right to terminate your subscription if for any reason a Payment Method is cancelled, terminated, declined or if Infofree.com believes a payment could also be challenged or dishonored. However, you are nonetheless liable for the stability of funds for the rest of the Term. Multiple instances of simultaneous utilization from a couple of location, or sharing your account, may result in the suspension or cancellation of your account. We reserve the right to terminate or limit your use of our service and to terminate this Agreement, without discover.

Our clients depend on us to provide insurance solutions for the latest challenges impacting their industry. Backed by the energy of Old Republic Title, solely The Fund delivers next-level providers and best-in-class training designed particularly to offer you and your practice the competitive edge you have to reach Florida. Join more than 4,000 Members statewide who rely on us to help them close real estate transactions easily, efficiently and confidently.

We most often work with companies that have 10 or more full-time attorneys and also think about smaller practices under special circumstances. We specialize in Directors & Officers (D&O) liability coverage for America’s main companies. Our group averages greater than 20 years of expertise underwriting complex exposures, such as preliminary public choices, bankruptcies, and corporate “turnarounds”. We serve all industry sectors, with market management in expertise, biotechnology and life sciences.

In Baio v. Commercial Union Insurance Co., 410 A.2nd 502 (Del.1979), the court stated that when an insurer has a battle of curiosity, its conduct and right of restoration is governed by equitable rules. The insurer in Baio was denied subrogation as a result of it used the employee’s statement gained as compensation provider to defend the action on behalf of its third-party insured. The employer in Brown v. Leighton, 434 N.E.second 176 (Mass.1982), did not procure workers’ compensation insurance.

Unfortunately, home buyers are not asked which company they would like to purchase a title insurance coverage previous to closing, so they have no idea any higher. If this company’s name is on your HUD, demand an accounting of every penny that you just paid for the coverage. If you might be given the runaround, file a grievance with the insurance commissioner in your state.

The U.S. title insurance industry has efficiently opposed land registration systems by saying that they’re susceptible to fraud and that an inherently contingent property system more effectively protects property rights. While it is attainable to fortify land registration systems to prevent the registration of forged deeds, the necessary countermeasures are complicated and expensive. A 2007 book attacking the American title insurance “cartel” acknowledged that “ore extensive use of Torrens certification would require establishing a particular judicially supervised bureaucracy.” Title insurers conduct a title search on public information before they agree to insure the purchaser or mortgagee of land.

A16A0258, RM Kids contends that the trial court docket erred in denying its claims for bad-religion damages and prejudgment interest as a matter of law. A federal law called the Real Estate Settlement Procedures Act entitles a person homeowner to decide on a title insurance company when purchasing or refinancing residential property. Typically, homeowners do not make this determination for themselves and instead rely on their bank’s or legal professional’s selection; however, the homeowner retains the proper to choose a unique insurer.

The plaintiffs and Island Creek objected to intervention by Old Republic, and an agreed order was entered holding the motion to intervene in abeyance till the motion was settled or tried to verdict. Massive discovery ensued, and numerous motions have been filed and argued before the circuit courtroom. The seventy-six volume document on enchantment attests to the nice extent this motion was litigated. The company was concerned with the UK’s controversial Welfare Reform Bill in 2007 and was investigated by the BBC in England at the moment.

For instance, when many information were destroyed in San Francisco’s 1906 earthquake, out-of-town title companies maintained information that allowed landowners to show ownership of their property. Provide title insurance policies and associated real estate transaction and mortgage lending services to particular person consumers. The ease with which companies can guard against a claim reveals within the claim charges. While home insurance and automobile insurance companies pays upwards of 80 percent of their premium dollars on claims, title insurers solely pay round three or four percent of their premium dollars on claims. old republic title insurance company is a device to cut back your risks. Depending on the chosen program, you possibly can partially or utterly protect yourself from unexpected bills.

RESPA makes it unlawful for any bank, dealer, or lawyer to mandate that a particular title insurance company be used. Doing so is a violation of federal law and any person or business doing so can be fined or lose its license. The legal responsibility restrict of the owner’s policy is typically the acquisition price paid for the property. As with different types of insurance, coverages can be added or deleted with an endorsement. There are many forms of standard endorsements to cover a variety of common points. The premium for the coverage could also be paid by the vendor or buyer because the events agree.

The purchase of Paul Revere made Provident the nation’s largest provider of particular person incapacity policies. Thomas Maclellan served as president of Provident till he was struck by an car and unexpectedly died 1916. Robert Maclellan, the son of Thomas, assumed the presidency of Provident following his father’s demise. Provident started selling life insurance the next year, in 1917, and the first life insurance coverage issued by the company covered Robert Maclellan’s life.

The company issued its first policy, which coated the life of founder and company president Elisha B. Pratt for $5000, on October 1, 1849. Union Mutual’s principal office on the time was situated in Boston, Massachusetts, the place Pratt resided. Union Mutual remained headquartered in Boston till 1881, when the state of Maine handed a law that required the principal office and headquarters of all insurance companies integrated by the state to be situated throughout the state.