E&O Insurance for Title and Escrow

We offer errors and omissions (E&O) insurance and fidelity bonds to the following title and escrow professionals:

Title agents are in charge of transferring the property title from the seller to the buyer and closing the transaction. Title agents make sure that the funds are transferred from the buyer to the seller. Title agents also make sure that title insurance is in place.

Escrow professionals act as a neutral third party in a transaction. Escrow professionals are typically employed by an independent escrow company, a title insurance company, or a real estrate broker. Escrow professionals handle the transfer of funds and documents between the parties to a transaction and ensure that all conditions are met before money is paid and a deed is recorded.

Title abstractors research the history of transactions impacting the ownership of a property. The examination performed by title abstractors determines if a property has a free and clear title or if anyone else has a claim on the property. Title abstractors prepare an abstract of title document which summarizes the history of a property.

Title and escrow professionals can be sued for a variety of reasons and are often included in a lawsuit with every party that participated in a real estate transaction. Because of the importance of the work performed by title and escrow professionals and the opportunity of making an error or omission which may be the basis for a lawsuit, it is important for title and escrow professionals to be covered by E&O insurance.

What coverage does an E&O insurance policy provide title and escrow professionals?

A basic E&O insurance policy is designed to provide title and escrow professionals with protection against accusations of an actual or alleged negligent act, error, omission, or misstatement. The insurance company provides legal defense and pays for covered damages up to the policy limit. An E&O insurance policy can also provide additional coverages, such as personal injury, disciplinary proceedings, defense against Consumer Financial Protection Bureau matters, and employee dishonest acts.

Most E&O insurance policy available to title and escrow professionals provide little or no protection against funds transfer fraud, which should be obtained through a seperate cyber policy. As the coverage varies between insurance companies, title and escrow professionals should carefully review the coverage provided by their insurance policy.

Give us a call to discuss your title and escrow errors and omissions insurance needs.

We operate in the following states: Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Utah, Vermont, Washington, Wisconsin, Wyoming