North American Title Enters Washington State
October 18, 2012
Miami-based North American Title Insurance Co. (NATIC) announced Oct. 18 that they have finally received the certificate of authority from Washington State’s Office of the Insurance Commissioner granting it the ability to insure real estate titles in the state.
This increases the total number of states NATIC can do business in to 29, and brings the company closer to accomplishing its growth strategy, in which it will reach all the major metropolitan areas of the United States. New York, Indiana, Idaho and Oregon are currently pending applications.
NATIC is among the Top 10 title insurance underwriters in the United States, being ranked sixth in the nation (by policyholder surplus). Having already expanded over half the country, NATIC earned the highest ranking in its class, with a Demotech Rating of A’ Unsurpassed. Kroll Bond Rating Agency has previously rated NATIC one of the best capitalized and managed underwriters in the title insurance industry.
"We are all very excited about entering the Washington State title insurance market, which ranked 14th in the nation last year with over $217 million in premiums written,” said Emilio Fernandez, president of NATIC. “NATIC will provide a fresh and new alternative in the marketplace, which will be attractive to those Washington State independent title agents who are looking for a true business partner in their underwriter. A different kind of underwriter is in town and we're looking for the best agents around."