Title Insurance Agent / Agency Licensing
The title insurance industry is a specific field within the insurance industry. Title insurance licensing requirements vary by state. Licenselogix will address the specific needs of your title insurance business to ensure you are informed about which license type you need and how to obtain the license. We streamline the process so that you can get back to business and feel confident that you are in full compliance with state regulations.
Title Insurance agents and title agencies must obtain a license in the states where they plan to work. Separate licenses may be required for agencies to do business within the state. Some states license business entities and others only license individual agents and producers. Each individual agent and each business entity must generally obtain different licenses. Residents of a state are often licensed differently than non-residents. Application and title agent/agency license fees range from $10 to $250 depending on the state and every state requires some type of renewal of the license every 1-3 years.
Ramifications of Non-Compliance
Common penalties include blocked commissions and large fines ranging from a couple hundred to a couple hundred thousand dollars. A state may also suspend or revoke a future title insurance license. Some states will issue an order of Cease and Desist from engaging in the business of insurance in that state. States may also have the unlicensed insurance agency or agent pay all valid unpaid claims of their customers.
How we help your business:
- We save you time because our licensing specialists are well-versed in all state insurance license types, requirements, and applications.
- Our flat-rate service fee saves you money by taking a time consuming task off of your desk for a fraction of what it would cost elsewhere.
- We will ensure that your application is filed correctly and that you are operating in compliance with the law.
More Resources:- American Land Title Association
CHOOSE A STATE BELOW FOR SPECIFIC BUSINESS LICENSING INFORMATION:
AL AK AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS
MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY