Resources Malpractice carriers: Lawyers Mutual, Zurich, CNA, and others Procedures to meet this best practice: The Company maintains professional liability insurance or errors and omissions insurance. The Company complies with requirements for professional liability insurance, errors and omissions insurance, fidelity coverage or surety bonds, as provided by state law or title insurance underwriting agreements. See (later in this handbook) Sample Insurance Checklist This sample is designed to help you develop the and procedures which demonstrate that your business meets or exceeds the ALTA Best Practices. It is intended to be used as a starting point and should be customized to suit the specific needs of your law firm. PERSON DATE ISSUE ACTIONS NOTES RESPONSIBLE COMPLETED Obtain professional liability policy covering the from certifying title and handling closings If you rely upon independent searchers, verify Adequate coverage of they obtain a policy covering searching errors attorneys and firm for and that your policy covers searching errors professional liability from these sources or errors & omissions Respond thoroughly to questions concerning insurance coverage title search procedures, closing services, transaction volume, revenue and number of employees Ensure policy covers the risks created by your law firm’s size, services and procedures
Resources Malpractice carriers: Lawyers Mutual, Zurich, CNA, and others Procedures to meet this best practice: The Company maintains professional liability insurance or errors and omissions insurance. The Company complies with requirements for professional liability insurance, errors and omissions insurance, fidelity coverage or surety bonds, as provided by state law or title insurance underwriting agreements. See (later in this handbook) Sample Insurance Checklist This sample is designed to help you develop the and procedures which demonstrate that your business meets or exceeds the ALTA Best Practices. It is intended to be used as a starting point and should be customized to suit the specific needs of your law firm. ISSUE ACTIONS NOTES PERSON RESPONSIBLE DATE COMPLETED Adequate coverage of attorneys and firm for professional liability or errors & omissions insurance coverage Obtain professional liability policy covering the from certifying title and handling closings If you rely upon independent searchers, verify they obtain a policy covering searching errors and that your policy covers searching errors from these sources Respond thoroughly to questions concerning title search procedures, closing services, transaction volume, revenue and number of employees Ensure policy covers the risks created by your law firm’s size, services and procedures
CFPB%20-%20CTNC%20Presentation%20Materials%209-22-13.docx