Professional Liability Insurance for Commercial Title and Escrow Agents
The commercial real estate industry has undergone one of the most difficult times in recent history with an influx of lawsuits and claims resulting from the mortgage and foreclosure crises of 2008. This litigious environment has underscored the need for Professional Liability Errors and Omissions Insurance for all professionals throughout the commercial real estate sector, including Title and Escrow Agents.
Professional Liability insurance for Title and Escrow Agents from Axis Insurance Services, LLC is designed to provide defense and indemnity coverage for covered claims relating to an error or omission that occurs in the course of providing professional services.
For Title Agents, claims can arise based on allegations involving: failure to find mortgage assignment; failure to find land subdivision; failure to find deed entry or deed fraud; failure to find will and probate entry; failure to find liens, encumbrances, easements or encroachments; an incomplete review of title; improper or inadequate documentation; a search performed on wrong parcel; or breach of contract.
Escrow Agents could find themselves embroiled in a lawsuit over allegedly failing to collect all funds; releasing funds before all conditions are met; breach of contract; breach of fiduciary duty; failing to make appropriate payment; improper or inadequate documentation; or wiring funds to the wrong account.
Even if a lawsuit is without merit, the cost of defending it can be significant, making Professional Liability insurance coverage even more critical.
The Axis Insurance Services Professional Liability Program is Ideal for Larger Firms:
Our products are designed primarily for larger firms, including:
- Commercial Title Agents
- Escrow Agent
- Abstractors
- Mortgage Processors
Coverage Highlights
- Limits up to $5M
- Privacy Coverage
- Contingent Bodily Injury/Property Damage
- Breach of Security
- Innocent Insured Coverage
- Unintentional Failure to Pay
Our longstanding relationships with top-rated insurance carrier partners allow us to provide customized coverage at a competitive cost. Furthermore, you can rely on our team’s knowledge and guidance to help you mitigate risk and stem losses – especially important in today’s litigious climate.
Let Us Provide the Title and Escrow Agents E & O Coverage Right for You.
For more information, call or email us, or fill out the convenient form on this page. Contact us now.
