Web Site Adds Consumer Protection Rating

November 17, 2009

Web Site Adds Consumer Protection Rating TI Services LLC announced that it has recently upgraded its title insurance website myTitleIns.com to include a new Consumer Protection Rating (CPR) feature. This CPR feature is the first rating system for the title insurance industry that compares and rates subscribing title companies on a scale of 1 to 10 based on various consumer oriented factors. Subscribing title companies will be first compared and rated based on various tangible determining factors that include company information, services, policy coverages and available closing protections, then compared by costs.

Colorado title companies can now provide information about their company through myTitleIns.com to real estate professionals and consumers, allowing for a more educated and informed decision when recommending or selecting a title company. Real estate professionals are now able to provide their clients with added value and protections previously unknown to many real estate professionals, as well as the consumers who are paying for the necessary title insurance and closing services. Such unknown protections are equal to the FDIC insurance that consumers expect from their banks in protecting their hard earned monies.

myTitleIns.com and its new CPR feature provides an online solution that incorporates consumerism and a new marketing paradigm for the title insurance industry. This new feature also provides more transparency of information and the ability for consumers to shop and effectively compare services, as the lack of these consumer issues were identified in the April 2007 report issued by the Government Accountability Office (GAO) titled; Title Insurance – Actions Needed to Improve Oversight of the Title Industry and Better Protect Consumers.

In response to the April 2007 GAO report, the American Land Title Association and the Land Title Association of Colorado adopted a new consumer initiative focused on education and “Principles of Fair Conduct - To provide consumers with timely and comprehensive information regarding their policies, services, products, and prices to enable consumers to shop effectively among providers of title-related services.”

Contact ALTA at 202-296-3671 or communications@alta.org.