When you transact with a Title Insurance Company, you will hear the word, “Underwriter" numerous times. But, only a few truly understand the duty of a title insurance underwriter.

What does a Title Insurance Underwriter do?

It is the job of a title insurance underwriter to work with the client, arrange title research, verify the authenticity of the title, evaluate the risks connected to the property, and to solve it, if possible.

It also involves various tasks and duties, such as:

  • To confirm that there will be no ownership claim in the property that will affect the buyer
  • To ensure if all land transfer were made legally, and there are no omitted heirs in the negotiation
  • To check if there are outstanding liens for the property
  • To provide expert advice about the advantages and disadvantages of the property, and if it"s worth the risk.
  • To defend the client in case of any legal issues filed against the property.

Insurance Premium

Why are the qualities of a good underwriter?

According to the United States Department of Labor – Bureau of Labor Statistics, there are five crucial qualities of a title underwriter:

  1. Analytical skills. Underwriters should have the ability to collect, evaluate, visualize, and analyze useful information from different sources.
    Having excellent analytical skills will help an underwriter to see problems from a broader perspective, and it will allow them to solve complex problems in the most advantageous way.
  2. Decisionmaking skills. Good decision-making skill is the key to a successful transaction. There are numerous things at stake in this job, and a wrong decision might lead to a costly disaster.
    When we talk about good decision-making skill, it is not merely a yes or a no. It also includes the ability to evaluate the risk associated with the transaction and to decide whether it is worth taking the risk. One must also have the decisiveness when setting insurance coverage and levels of premiums.
  3. Detail oriented. Underwriters must pay considerable attention to detail. Underwriters read and research hundreds of data every day. They need to know the history of the property and be sure that the title is clean and authentic. Every detail must be carefully analyzed, and no problem should be overlooked.
    A detail-oriented underwriter also includes being patient because he/she needs to proofread the arrangement dozen of times to make sure that there are no holes in the paper, and that his/her client is at the advantage side.
  4. Interpersonal skills. The job of a title insurance underwriters involves a lot of interaction. You need to deal with the client, attorney, government employees, real estate agent, and maybe with even another underwriter. Whether you are a local or national title insurance underwriters, you can never miss this skill because an excellent communication and interpersonal skills are mandatory to be able to do this job well.
  5. Math skills. There is a lot of computation, analyzation, estimation, and other mathematical skills involve in this job. An underwriter must be able to calculate the suitable premium for the client and find the probability of losses in an insurance policy.

Like what is mentioned before. There are costly things at stake in real estate transaction. There is no room for any mistake. That is why, when searching for local or national title services, you should carefully review your options, and you should choose a company who has competent employees and proven background.

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