Regional Underwriter Reports Second-Quarter Growth
October 15, 2009
Westcor Land Title Insurance Co., an independent underwriter based in Florida, reported continued growth despite the challenging economic market conditions.
According to second quarter reports released by the American Land Title Association (ALTA), Westcor has increased market share in many of the states in which they are licensed, with the most significant growth occurring in the Western region.
Westcor advanced its national market share from the second quarter of 2008 to second quarter 2009 and reported a 62 percent increase in premiums written for the period. The company credits its independent agents for the ability to sustain and grow in this market.
“The ability of our agents to remain consistent during challenging market environments is confirmation that service-oriented business philosophy and practices work. Believing in a standard of excellence and providing outstanding personalized service to our agents strengthens their position in the marketplace,” commented Mary O’Donnell, CEO and President of Westcor.
Westcor continues its expansion by working with quality independent title agents and providing them with personal service, O’Donnell said. The underwriter attributes their steady growth and success, despite market conditions, to their solid business model.
“Had all underwriters stayed true to these practices, we could have avoided the turmoil we are currently suffering,” said Shawn Patrick Abrahms, President of Trinity Abstract in New York. “Westcor’s business model is soundly based on good old-fashioned common sense and best business practices.”