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The real estate bust that triggered the Great Recession was brutal on title-insurance providers, but many have survived by switching their professional focus. A form of indemnity insurance, title insurance protects against financial losses from defects in real property and from mortgage liens that become invalid or unenforceable (defaults, for instance). Common to the mortgage process, there are two main types of title insurance policies - one for owners, one for lenders - offering a range of customized provisions that provide assurances for both sides. Naturally, when the mortgage market dries up, the title insurance market follows.
At 2:42 p.m. Tuesday, Agents National Title Insurance Co. had underwritten title insurance for just less than $29.97 billion worth of property. By the end of the day, it crossed $30 billion. Photo by Ryan Henriksen
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