Wednesday, February 13, 2008

It's all curative

How title insurance differs from P&C

Title insurance is a frequently misunderstood business. That is hardly a novel concept, but seldom is it more apparent than when title insurance is compared to property and casualty insurance. Over and over we read that title claims are extremely low when compared to the claims ratios of the P&C world. As a result, some believe that because title insurers pay claims at a much lower rate than P&C insures we must retain virtually all of the revenue from policy premiums. Were that true I’d have retired to a desert island long ago.

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Author: Frank Pellegrini, President, Prairie Title

TitleTalk Article originally published in February 2008 issue of
Metro Chicago Real Estate Magazine.

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