Understanding your title insurance coverage doesn’t have to be taxing

Nov 23rd, 2015 | By FCT

Let me begin this post by introducing myself . . . my name is Teresa Occhiuto and I’ve been with FCT for over 16 years (wow, time flies!). In my current role as Senior Business Development Specialist, I focus on providing support to legal professionals in the Greater Toronto Area. I educate my customers on the value of residential title insurance and its role in building more successful businesses. I also try to ensure that lawyers understand the ways in which title insurance can help safeguard their reputation as well.

Say what you mean and mean what you say

Having spent many years in a law-office environment, I know how complicated the due diligence process can be. In my current role I enjoy taking the time to work one-on-one with lawyers to create efficiencies, specifically for purchase transactions. In doing so, I hope to help build a better, transparent experience for both my customer and their clients. I’ve always felt that it’s the quality and integrity of the service that separates the good from the great. Customers need to know that their business is valued and that you “say what you mean and mean what you say.”

A taxing discovery

Recently I discovered that one of my customers was ordering a tax verification service from a third party. He was doing this to satisfy his own due diligence, mandating that each transaction had the accompanying tax certificate. However, in the particulars of his third-party policy, there were a few red flags that actually jeopardized the exact protection he was trying to secure for his clients. In the fine print, his policy stated that if the deal had time constraints, this service would not be completed on time and would result in an exception being placed on the policy for property taxes.

The supposed “value-added” service he was paying extra for was ultimately putting both his clients and his reputation at risk by undermining coverage!

You can imagine how stressed he was, realizing the potential impact to his reputation had there been a claim. All along he had been paying extra for inferior coverage and support from the third party he thought had his best interest at heart.

In the end FCT’s title insurance provided a solution that saved him money and provided him with coverage he knew that he could rely on — transparent, comprehensive coverage he fully understood.

Because, after all, that’s my job. (A job I love, by the way!)

To learn more about how your FCT dedicated business development manager can help you make the most of your business while protecting your reputation, email us at info@fct.ca or add a comment below.

Categories: Title Insurance

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