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Jan
06

Landtech is NAIC compliant!

The National Association of Insurance Commissioners (NAIC) has added a new reporting requirement for Title Agents, requiring that the Property Type (either residential or non-residential) must be provided for each reported title policy. Landtech XML version 2011.01.0030 added this feature to the existing Landtech program as a drop-down menu in the Title Insurance dialog box. Different title underwriters have different ideas about whether the Property Type has to be reported on the forms as well. We are waiting to hear from several of them. Westcor Land Title Insurance is the only underwriter to request a change on the title policy forms themselves. Any title forms that are updated with this feature will be available on the Landtech Forms web site. To update your Landtech program to add the Property Type feature, from within Landtech program, click on Online, Check for Updates and download and install the latest version of Landtech, and then download the updated forms.