How we work Consistent Expertise Atrium have been maintaining a disciplined underwriting approach for over 80 years, this has seen the Syndicate operate through many market cycles and significant changes in the Lloyd's market.
Fidelity Bond policies Stateside Underwriting Agency is one of the leading writers of fidelity bonds for title agents. Stateside also provides fidelity bonds for escrow agents and fidelity bonds for closing agents.
A title agent fidelity bond is also referred to as a title agent crime bond, a title agent employee dishonesty bond or a title agent dishonesty bond. A fidelity bond for title agents should be written on a Surety and Fidelity Association http: We often see title agents relying on commercial crime bounds imbedded in the business owners policy BOP to address the unique exposures of title agents however buyer beware.
The most important clause of the Form 15 fidelity bond for title agents or coverage part of the form 15 is Clause A.
Employee embezzlement is the most common type of loss covered under a fidelity bond for title agents. Fidelity bonds do not cover losses caused by the principal owner of the assured.
By extension, therefore, fidelity coverage typically does not cover loss caused by a person who is the alter ego of the insured, e.
Some title underwriters and the state of Washington via The Washington State Department of Financial Institutions are requiring their escrow, title or closing agents who handle settlement funds to purchase a bond which obviates the alter ego defense.
The Escrow Security Bond is tailored for title, closing and escrow agents because the basis of the Escrow Security Bond is a Fidelity and Surety form The form 15 is then modified to include computer crime coverage via the Computer Crime rider, owner defalcation cover via the Theft of Settlement Funds and Title Premium rider and Special Loss Payee rider naming the sponsoring title underwriter.
In addition the Escrow Security Bond is further modified to address nuances unique to the title industry which provides more clarity when a loss is sustained by the title or escrow agent. Under that scenario, a standard fidelity bond would become void and of no value because of the owner exclusion however the Escrow Security Bond allows the title underwriter to report and pursue a claim to Underwriters as long as their interests were affected and they were named on the Special Loss Payee rider of the Escrow Security Bond.
You can find the requirement of this new Washington State Escrow Agent Endorsement at the following link http: Regardless of whether there is a specific requirement for a title agent to carry a fidelity bond, title agents should carry fidelity bond coverage as a peace of mind and to protect them from employees stealing money, including escrow and operating funds from the agency.
SUA forms require the free Adobe Acrobat reader.Oklahoma City Insurance We are ECI Agency, Inc., specializing in Oklahoma City insurance including home, auto, liability, motorcycle, life & health, business & commercial and workers compensation insurance in Oklahoma City, Edmond, Yukon and Piedmont and surrounding areas in Oklahoma.
DO YOU NEED EARTHQUAKE INSURANCE? You probably have a standard home owner’s insurance . The insurance underwriter is the insurance company's appointed risk taker, the one who decides to take on the financial responsibility to the insured if he believes in the risk.
He reviews all the information your agent provides and decides if the company is willing to take a gamble on you. Welcome.
Welcome to Wrightway Underwriting Limited, Ireland's largest underwriting agency and winner of the Best Product Producer Award , & Insurance Carrier: An insurance carrier is a manufacturer of insurance services and products that the insurance agency sells to the insurance companies, insurers etc.
They control the underwriting process, claims process, pricing and the overall management. Home > Services > Underwriting Direct Access (UDA) Prime’s management has been underwriting specialty risks for over 30 years.
UDA underwrites business for Prime Insurance Company and Lloyd’s of London and is structured to provide careful underwriting as a third party administrator. 2 Table of Contents Society Insurance Agency Manual Table of Contents Table of Contents 2 Section I: General Information 15 Chapter 1: Personnel List