Bank Sued Over Title Agent Embezzlement

Litigation continues in a $3.8M title agent embezzlement in 2005, this time with the bank who oversaw the escrow accounts being sued.

InsureTitleAgents.com works with title agencies to protect their organizations against the costs of defending themselves against allegations of wrongdoing.

American Bar Association report reveals risk management tips for title agents

The American Bar Association (ABA) completed a study analyzing the types of claims made against law firms during 2008-2011.  Claims stemming from errors in real estate transactions were the most frequent.  The report outlines that “preparation, filing, and transmittal of documents” was the primary source of claims with “advice” being the second largest.  Previous ABA reports show that “failure to file a document – no deadline” was also a leading source of mistakes.

Calculated Risk Advisors explains that individual title agents and owners of title agencies can also learn from this study.  All personnel should be well versed in document handling protocols and timelines in order to prevent lawsuits.  “Advice” should also be carefully researched and within the scope of the agent’s work and knowledge.  Contact a broker today to further discuss ways to further mitigate your title agency’s risks.

Hiring and Social Networks

The Governor of Illinois signed H.B. 3782 into law on August 1st.  The bill addresses an employer asking for potential employee’s social networking information by making that practice illegal.  Social networking is evolving quickly and the laws are trying to keep up.  InsureTitleAgents.com stresses the importance for a company to be careful when using social websites in the hiring process.  Employment practices liability insurance and counsel from a labor law attorney are two necessities for any firm.  Contact us today for additional information on ways to protect your firm from lawsuits.

Olympic Employment Risks

The second athlete from the London Olympics was expelled for a comment made on Twitter today.  The comment was made against another team competing in the games and deemed racist.  The first athlete – Voula Papachristou – was similarly expelled for her racist Twitter post.  ProtectTitleAgents.com reminds clients that social network sites can be used to post discriminating and harassing language in the workplace just as easily as it can be posted at the Olympics.  Social media policies and employment practices liability insurance are necessary in today’s society where social media is constantly increasing.