Why buy Title Agents E&O/Title Agents Errors and Omissions Insurance?
Legal fees from frivolous lawsuits are the driving factor but there are also public relations costs and the time it takes to manage the process of defending your title agency. By purchasing errors and omission insurance for your firm your are protecting yourself against both the cost of and time required to manage the process.
E&O insurers provide a claims manager to oversee the process, a critical value added. In addition insurance companies specializing in this space have specialized lawyers contracted and extremely competitive rates.
What should I expect as I obtain insurance?
Your InsureTitleAgents.com broker makes the insurance procurement process as easy as 1… 2… 3…
- Your broker’s first step is to compile information about your organization. This often entails completing an application followed by a quick discussion on the phone or in person
- Your broker will then contact specialized insurance companies and negotiate various options for you
- After receiving quotes we will walk through the comparison and analysis with you and together determine the best option
Click here to get started with the quote process.
What is the cost to me?
Nothing. The services we render will not cost your firm anything additional. We are paid on commission by the insurance company you choose to buy insurance from.
What makes us different?
We differentiate ourselves through our expertise and our approach. An unsophisticated broker is like an amateur archer – every so often, even the amateur can hit the bulls-eye and win a competition. The brokers you will work with through InsureTitleAgents.com are far from amateurs, however, and we hit the bulls-eye frequently. What makes us experts in the field of professional liability is our background and our approach. The brokers we employ have decades of experience in professional liability and our approach is unique. The approach we use has made us the premier insurance broker for title agent professional liability. Our process allows us to secure each client the best coverage at the best price available in the market. We do this using our proprietary brokering process:
Superior data collection – Each broker you will meet through InsureTitleAgents.com is a former underwriter. That means each person you talk to has worked for an insurance company and has reviewed hundreds of firms just like yours. Because of this, we know how to assess your company and gather information that is relevant to the insurance companies we now help you buy from. This assures that the process is as smooth and easy for you as possible.
Superior analytics – We employ financial and statistical analytics to better understand and model your firm’s risk. By discussing the risks you face, your firm’s future business plans and your firm’s capital structure, we can be sure to obtain coverage options that meet your exact needs.
Superior negotiation – Leveraging the information and understanding we gain about your firm, we can then negotiate your professional liability insurance on a level that is unmatched in the industry. Our brokers are trained in classic negotiation techniques and are able to navigate each policy – adding and removing coverages according to your needs. This drives your premium to the lowest available level.
A smooth process, tailored insurance coverage and the lowest available price. This is what separates us from every other broker.
What insurance companies does we represent?
We will approach the companies who are most competitive for a firm of your profile. With over 15 companies offering professional liability insurance for title agencies, navigating the market can be daunting. As an independent broker, we will NOT favor one insurance company over another. We are able to assess each option impartially, keeping our interests aligned with you, our client.
Is my firm too small to need insurance?
Your firm may be too small for insurance if you have zero clients and zero revenue. Otherwise, you need insurance. In many states it’s required. If you or your firm renders professional services, then there is a potential for a lawsuit – and a need for insurance.
What other insurance products are available to my title agency?
We specialize in the professional liability and management liability insurance products needed by title firms today. This includes:
• Professional liability insurance (protects you in the case of an error or omission in the rendering of your professional service)
• Employment practices liability (protects against claims related to employment such as discrimination or wrongful termination)
• Crime/Fidelity (protects against losses related to theft by an employee)
• Fiduciary liability (protects against allegations of breach of duty as a fiduciary for your firm’s retirement plans)
• Directors and officers insurance (insures the directors and officers of a company against allegations of mismanagement or wrong doing)
Please contact us to discuss whether these insurance products might be right for your firm.
Will my ancillary services be covered?
Yes. Our firm specializes in responding to your individual firm’s needs. The policy forms we have access to has option coverages for other non-title related activities your firm provides.
How does my claims made coverage function?
Below gives an example of how claims made coverage is triggered:
Do you offer payment plans for my insurance premium?
Many professional liability insurance companies that we work with offer payment plans. If the insurance company is not able to offer such an option, we have partnered with a regional bank to offer our clients with premium financing options. Payment plans are an important part of any risk financing program.