American Land Title Association
Home  >  News Room
News Room


SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software


Industry News

Fidelity National Financial, Inc. Announces Closing of Bankers Insurance Flood Insurance Acquisition

January 10, 2003

IRVINE, Calif., /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF - News), a national provider of title insurance and real estate related products and services, has announced the closing of its acquisition of certain assets of Bankers Insurance Group ("Bankers"). The assets include the rights to issue new and renewal flood insurance policies underwritten by Bankers and its subsidiaries, Bankers Insurance Company, Bankers Security Insurance Company and First Community Insurance Company ("FCIC"). As part of the transaction, FNF also acquired FCIC, a fifty-state licensed insurance carrier, to act as the underwriter for the policies.

The transaction involves more than 360,000 flood insurance policies originated through a nationwide network of 10,000 independent agents in conjunction with the National Flood Insurance Program. Under the program, the Federal Government makes flood insurance available to owners and renters of residential and commercial properties as financial protection against flood losses and maintains the risk associated with potential claims. Borrowers are required to purchase flood insurance to obtain financing associated with a residential or commercial structure located in a federally designated Special Flood Hazard Area.

Source: Fidelity National Financial, Inc.



Print Friendly


How To Find Us:
American Land Title Association
1828 L Street, NW, Suite 705
Washington, DC 20036-5104
P. 202.296.3671 F. 202.223.5843
www.alta.org
service@alta.org
Copyright © 2004-2014 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment