TITLE AGENTS ERRORS & OMISSIONS INSURANCE

Errors and omissions insurance provides title agents and title agencies the protection needed to defend and pay claims that may arise from acts, errors or omissions in the rendition of services as an abstractor, title agents and/or escrow agent.

Exposures include:

• Escrow agents have a duty of care to the parties to the escrow.  Title Insurance Companies are not responsible, as the agent’s principal, for the agent’s escrow and closing acts.
• Title agents may be liable to a non-party for negligent performance of contractual obligations where the non-party’s reliance upon proper performance is known and anticipated.
• Title Agents conduct and accept responsibility for the details and conditions of loan transactions.  They must comply strictly with the closing instructions of the principals and properly draw and record a deed of trust.
• Title agents can be found negligent for failure to inform an underwriter of the existence of an unrecorded contract for the sale of a property to a party other than the insured.

Best Practices Insurance Agency, Inc. has several markets that can provide this special coverage at competitive rates. We can help you save on premiums while maintaining the protection you need to defend and pay claims that may arise from your activities as an abstractor, title agent or escrow agent.

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