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Claims ScenarioTitle Agents
Errors and Omissions Insurance
The well-publicized problems in the real estate market are making it more difficult for Title Agents, Abstractors and Escrow/Closing Agents to find affordable Errors & Omissions (E&O) insurance. Fox Point Programs has the answer! Our knowledgeable underwriters can help you secure coverage uniquely tailored to the exposures faced by:
- Title Agents
- Escrow Agents
- Closing Agents
- Title Abstractors/Examiners*
- Notaries
- Witness Closers
*For 100% Abstractors, click here for our Abstractors, Examiners and Searchers Program.
The financial impact of an E&O suit on a company can be devastating and can potentially wipe out corporate and personal assets. Even if the allegations prove to be groundless, the firm could still incur substantial legal defense costs. Fox Point Programs is here to help.
Fox Point offers:
- Multiple Limit and Deductible options*
- Escrow coverage (Ask for details about requirements)*
- Prior Acts coverage with proof of prior coverage
- Coverage in all 50 states*
- Optional General Liability insurance available
*Some restrictions may apply
Claim Scenario:
During the sale of a property, it is discovered that a lien was still outstanding. The seller claimed that because he relied on the report from the title agent/title abstractor, the purchase price of the property dramatically changed and he was unable to complete the original sale, costing him a significant amount of money. The seller filed a claim for failing to report the outstanding lien.
