Kudos to the American Land Title Association (ALTA) and Old Republic Title, who hosted a “A Day in the Life of a Title Insurer” for NAIC’s Title Working Group. ALTA Agents’ Chair Anne Anastasi led the meeting, during the quarterly meeting of the NAIC in Minneapolis, where regulators spent an hour and a half learning about title insurance claims, searches, exams, commitment preparation, clearing title, curative work, etc.
The meeting was designed both to facilitate an ongoing relationship with regulators, and to assist NAIC’s Title Working Group as they labor through survey questions for state insurance regulators to evaluate whether a national data collection plan can be implemented to give regulators a better idea of agent and underwriter expenses.
In this author’s opinion, title insurance clearly belongs under the auspices of each state’s regulators, as title issues vary too much state to state to be governed under a national regulator.