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Remittance Requirements PDF Print E-mail

01/22/2010

To Our Agents:
 
As you are aware, the title insurance industry has gone through a significant transition in the last two years.  FNF, the parent company of Chicago, Ticor, Lawyers and Commonwealth (the "Companies"), has emerged with strength due to its industry-leading response to the challenges of the marketplace, both locally and nationally.
 
As is customary in difficult economic times, claims against policies have increased significantly, and as such, the need for timely remittances by our agents to the Companies is required in order to maintain adequate reserves.
 
In order to meet this shared goal and maintain an agency in good standing, the Companies are strictly requiring that all of our agents remit issued policies on a monthly basis and within 30 days of the policy effective date.  This policy "lag time" (the length of time between the date of policy and remittance) is averaged and measured in reviews and audits conducted by the Companies.
 
Please feel free to contact your agency representative for further explanation of this requirement and/or if you would like them to arrange for monthly pick up of your policies.
 
We greatly appreciate your business and cooperation, and wish you a successful and prosperous 2010.

 
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