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Demotech responds to favorable results for title underwriters
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Industry News, Market Data
Tuesday, April 1, 2014
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Demotech’s Chief Ratings Officer Barry Koestler and Senior Financial Analyst Douglas Powell told
The Title Report that title insurance underwriters are reporting positive financial results for 2013.
Financial information examined by Demotech includes the underwriters’ statutory information quarterly and annually, the statement of actuarial opinion as well as audited financials. Underwriters are encouraged to submit management discussions quarterly or annually with their statements. Demotech talks with the management of the company, examines industry trends and reviews the underwriter’s history.
“We also conduct an annual data call that looks at reinsurance as well as agency appointment information and defalcation prevention and procedures,” Koestler said. “That’s a critical piece, especially with title underwriters where that’s been an issue. This information is particularly relevant to reviewing smaller underwriters.”
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