Title Education, Title School, and Insurance Courses at Affordable Price
Title education is the study undertaken by land title professionals for title insurance studies. These professionals need to pass their title agent licensing exam. There are plenty of institutes that offer courses for this examination.
What is Title Insurance?
Title Insurance is a kind of indemnity for an owner of a property to safe guard his or her financial interest in a property against loss due to title defects, liens, or other matters. Although title insurance exists in other countries such as United Kingdom, Mexico, Canada, Australia, New Zealand, China, Korea, Japan, and so on, it is found predominantly in United States due to an alleged comparative deficiency of the U.S. land records laws.
The indemnity will defend against any lawsuit that challenges the title to a property as the property has been insured. Alternatively, it will reimburse the insured for the actual monetary loss incurred, up to the amount the title insurance guarantees. A title insurance agent will perform the required formalities for you. A title insurance course is one of the specialized insurance courses a title insurance agent undertakes.
Who are Title Insurance Agents?
A title insurance agent is a person appointed in writing by a title insurer for the purpose of issuing and countersigning binders, commitments, policies of title insurance, or guarantees of title in its behalf. Each state has different qualification requirements for a title insurance agent.
In the state of Florida, the condition is the person must be a natural person, resident of the state, and at least 18 years of age. If the person has been licensed in another state within three years, a letter of clearance has to be submitted along with the license application. The license applicant has to be a U.S. citizen or a legal alien who is authorized to work in U.S.
There are some conditions stipulated to be undertaken within four years of the application date of the license. The applicant must have successfully completed 40 hours of insurance education in title insurance approved by the Department of Insurance and should have completed at least one year in responsible title insurance duties while working for a title agency, title insurer, title agent, or an attorney.
Who needs Insurance CE?
Insurance agents in the U.S. need to undertake Insurance Continuing Education (CE) in order to be able to continue to sell different types of insurance products. The same is true for title insurance agents. Insurance agents are licensed by individual states and hence there are no licenses that are valid across the nation. CE usually has a set credit hour requirement for a period of time, sometimes with specific hour requirements for special topics.
The number of credit hours required for insurance renewal varies from state-to-state. The requirements are set by the state’s Department of Insurance. As an example, in the state of California, CE requirement for a title agent is 24 credit hours for non-attorney agents and 3 credit hours for licensed attorneys. The same can be obtained by undergoing courses in title school.
In a recent development, CE also can be undertaken online. This has been a matter of great convenience for the insurance agents. A portion of the requirement can be achieved through reading and self-study also. The insurance agent can undertake the CE at the convenience of their home or workplace. Many institutions offer online courses at highly affordable prices to enable the agents to take the CE for license renewal.
James Thomas has expertise in insurance education and having deep knowledge about insurance courses. You can get info about title education, insurance education and title school online at http://www.online.titleacademyofnewjersey.com/
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